Google Parent Alphabet in Talks To Acquire Cybersecurity Startup Wiz for USD 23 Billion: Report
Google's parent company, Alphabet, is reportedly nearing a deal to acquire cybersecurity firm Wiz for approximately USD 23 billion, which would be its largest acquisition ever.
New Delhi, July 15: Google's parent company, Alphabet, is reportedly in negotiations to acquire the cybersecurity firm Wiz for approximately USD 23 billion. If the deal is finalised, it will be a major investment by Alphabet to enhance its security infrastructure and services. Google's interest in acquiring Wiz, a company that focuses on cloud-based cybersecurity solutions, shows that the tech giant will likely strengthen its presence in the cybersecurity sector.
As per a report of WSJ, Google is close to finalising the USD 23 billion deal for Wiz. Companies are investing more in advanced security solutions to avoid the rise in cyber threats and attacks. Alphabet’s interest in Wiz is expected to align with its strategy to expand its security measures for its cloud services. Google Maps Introduces Sheet-Based Design Interface for Navigation on Android Devices; Check Details.
According to a report of Money Control, Google is in the process of acquiring Wiz, in what could potentially be its largest acquisition ever. The deal is said to be nearing completion and an official announcement is expected soon. However, both Google and Wiz have remained silent and have not provided any information regarding the reported acquisition. If Google successfully buys Wiz for the reported USD 23 billion, it will be their biggest purchase ever. Google has also bought other companies like Mandiant, a cybersecurity firm, in 2022 for USD 5.4 billion. Previously, in 2011, Google purchased Motorola for USD 12.5 billion, but later, it was sold to Lenovo. Google Maps New Feature Update: Tech Giant Rolls Out Speedometer and Speed Limit Feature for iPhone, Apple CarPlay Users; Know How To Use.
Wiz is a cybersecurity startup that was started in Israel in 2020 and is now located in New York. Initially, Wiz has received funding from various well-known investors. In 2021, Wiz also received investments from Salesforce and Blackstone. Additionally, investors like Sequoia and Index Ventures are listed on Wiz's official website. The founders of Wiz previously had a company called Adallom, which focused on cloud security. Microsoft acquired Adallom in 2015 for USD 320 million.
(The above story first appeared on LatestLY on Jul 15, 2024 03:43 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).