Alphabet in talks to acquire cloud security company Wiz for 23 billion dollar

Alphabet is on the verge of making an acquisition. Google’s parent company is in advanced talks to annex cybersecurity startup Wiz. Alphabet is allegedly willing to pay 23 billion dollar for the acquisition.
Sources familiar with the matter tell The Wall Street Journal that the deal hasn’t been finalized yet, but could come together very soon.
Wiz is a cloud security company that was founded in 2020. It offers an all-in-one approach to cloud computing security, using data from Amazon Web Services, Microsoft Azure, Google Cloud and other cloud platforms. It then scans the cloud platforms for security risk factors.
The New York-based company is one of the fastest growing startups, generating about 350 million dollar in revenue in 2023. It works with almost half of the Fortune 100 companies in the United States. A few months ago it raised 1 billion dollar in private funding, rating the company at 12 billion dollar.
Over 900 employees across the U.S., Europe, Asia and Israel work at Wiz. By the end of the year the company wants to add 400 more workers to its workforce.
According to The Wall Street Journal, Alphabet sees the acquisition as a way to reinforce its cloud business, which grew 28 percent to almost 9.6 billion dollar in the first quarter of this year.
If a deal is made, this would be Alphabet’s biggest acquisition to date. Back in 2022, Alphabet acquired cybersecurity firm Mandiant for 5.4 billion dollar. This acquisition would be more than four times that number.
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