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Google in Talks for Fastest $23 Billion Acquisition of Wiz
Jul 15, 2024, 01:07 PM
Google is reportedly in talks to acquire Wiz, a cybersecurity company, for $23 billion. Wiz, which was founded in January 2020, initially raised $100 million to start. In 2023, the company generated $350 million in revenue. The acquisition price is almost double what Wiz was valued at by its venture-capital investors just two months ago. This deal is seen as one of the biggest in the market, potentially marking one of the fastest acquisitions of a $10 billion+ company ever, especially given the current stagnation in the IPO market. Digital giants like Google are looking to buy revenue through acquisitions.
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