Google Nears Largest-Ever $23 Billion Acquisition of Cybersecurity Startup Wiz

Jul 14, 2024, 06:03 PM

Google's parent company, Alphabet, is in advanced negotiations to acquire the Israeli cybersecurity startup Wiz for approximately $23 billion, as reported by the Wall Street Journal. This acquisition would mark the largest in Google's history, significantly surpassing its previous acquisitions. Wiz, which was last valued at $12 billion, has shown remarkable growth, reportedly achieving close to $400 million in annual recurring revenue (ARR) and growing at a rate of 120%. The acquisition aligns with Google's strategy to bolster its cloud security offerings and represents a significant move in the cybersecurity sector.