Alphabet Inc., the parent company of Google, is reportedly in advanced negotiations to acquire cybersecurity startup Wiz for a staggering $23 billion. This potential deal, if finalized, would mark Alphabet’s largest acquisition to date and is expected to be completed in the near future, as reported by the Wall Street Journal.
The acquisition of Wiz could significantly bolster Alphabet’s presence in the competitive cloud computing market, where they have been trailing behind other major players. This move follows the company’s $5.4 billion acquisition of cybersecurity firm Mandiant Inc. in 2022, which was one of their largest acquisitions at that time.
Wiz, headquartered in New York, was valued at $12 billion during a recent funding round in May. Notable investors in the company include Andreessen Horowitz, Lightspeed Venture Partners, and Thrive Capital. Founded in 2020, Wiz specializes in identifying and eliminating risks within cloud environments.
This potential acquisition underscores Alphabet’s commitment to expanding its cybersecurity capabilities and strengthening its position in the cloud computing industry. Stay tuned for further updates on this developing story as Alphabet continues to make moves to solidify its position in the tech sector.
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