Google reportedly in talks to acquire cloud security company Wiz for $23B

Alphabet is in talks to acquire Wiz for $23B to strengthen Google’s cloud security business, following Wiz's recent $1B Series E at a $12B valuation.

: Alphabet is nearing a $23 billion acquisition deal for Wiz, a cloud security company. This move aims to bolster Google's cloud business, which saw a 28% growth in Q1. Wiz, founded by ex-Microsoft employees, recently secured $1 billion in Series E funding, valuing the company at $12 billion.

Alphabet is reportedly in advanced talks to acquire cloud security company Wiz for around $23 billion. If the deal is finalized, it would mark Alphabet’s largest acquisition to date. Wiz is known for its comprehensive cloud security solutions, scanning data from major cloud platforms like AWS, Azure, and Google Cloud for security risks.

With Google's cloud business growing 28% to $9.57 billion in the first quarter of this year, Alphabet likely sees this acquisition as a strategic move to further fortify this segment. The report surfaces just two months after Wiz raised a $1 billion Series E at a $12 billion valuation. Founded by former Microsoft employees Assaf Rappaport, Ami Luttwak, Yinon Costica, and Roy Reznik, Wiz has accumulated $1.9 billion in funding.

Wiz boasted $350 million in annual recurring revenue at the time of its latest funding round and was seemingly poised for further acquisitions and an eventual IPO. Its backing comes from prominent investors such as Andreessen Horowitz, Lightspeed Venture Partners, and Sequoia Capital. However, integration into Alphabet could change its future trajectory, potentially diverting from an independent public offering.

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