Google’s parent company, Alphabet, is in advanced talks to acquire cloud security startup Wiz for a whopping $23 billion. If finalized, this would be Alphabet’s largest acquisition, bolstering Google’s cloud business.
Google’s parent company, Alphabet, might be on the verge of making its biggest acquisition.
Alphabet is in advanced talks to acquire Wiz for around $23 billion. While the deal isn’t finalized, it could come together soon. Wiz offers an all-in-one approach to cloud security, ingesting data from Amazon Web Services, Microsoft Azure, Google Cloud, and other cloud platforms and scanning it for security risk factors.
Presumably, Alphabet executives see the deal as a way to fortify Google’s cloud business, which grew 28% to $9.57 billion in the first quarter of this year.
This report comes just two months after Wiz announced raising a $1 billion Series E at a $12 billion valuation. Founded four years ago by former Microsoft employees Assaf Rappaport, Ami Luttwak, Yinon Costica, and Roy Reznik, Wiz has raised $1.9 billion.
At the time of its most recent funding, the company said it had $350 million in annual recurring revenue. It seemed to be on track to roll up smaller security startups through acquisitions and eventually to go public, but it may find a different path as part of Alphabet.
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The company’s investors include Andreessen Horowitz, Lightspeed Venture Partners, Thrive, Greylock, Wellington Management, Cyberstarts, Greenoaks, Howard Schultz, Index Ventures, Salesforce Ventures, and Sequoia Capital.
