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Google's Major Move: Acquiring Wiz for Cybersecurity Dominance

Google’s Major Move: Acquiring Wiz for Cybersecurity Dominance

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Alphabet, Google’s parent company, is said to be close to acquiring the fast-growing cybersecurity startup Wiz for about $23 billion. This deal would be Google’s biggest ever, showing how much the tech giant is investing in cybersecurity.

Major Bet on Cybersecurity

Wiz, which makes cybersecurity software for cloud computing, caught Google’s attention after it raised $1 billion from investors earlier this year. If this deal goes through, it will be bigger than Google’s $12.5 billion purchase of Motorola ten years ago, which they later sold at a big loss. Wiz is now valued at $23 billion, almost double its $12 billion value from the latest funding round.

Strategic Move for Google Cloud

Acquiring Wiz fits with Google’s plan to strengthen its cloud computing business. In March 2022, Alphabet bought the cybersecurity company Mandiant for $5.4 billion to improve its ability to handle cyber threats. Even though Google Cloud has seen growth in its cloud sales, it has faced challenges in competing with similar services from Microsoft and Amazon. Dan Ives, who works at Wedbush as a managing director and senior analyst for stocks, said that acquiring Wiz would be a strong move against competitors. This shows Google is serious about cybersecurity to support its cloud services.

Increasing Importance of Cloud Security

Cloud security has become increasingly important as companies move their data to cloud platforms. Recent events, like AT&T’s large data breach due to an “illegal download” on a third-party cloud platform, highlight the urgent need for strong cybersecurity measures. Wiz, founded in March 2020 during the Covid-19 pandemic, has quickly grown and now serves 40% of Fortune 100 companies. Wiz counts BMW, Slack, and Salesforce among its prominent clients and works closely with major cloud providers such as Amazon, Microsoft, and Google.

Potential Regulatory Challenges

The Google-Wiz deal discussions are happening while the Biden administration is closely watching big tech companies for antitrust issues. Discussions about the Google-Wiz deal are happening while the Biden administration closely examines big tech companies for antitrust issues. Dan Ives suggested that if former President Trump were to return to the White House, the scrutiny on tech companies might decrease. This could make it easier for tech mergers and acquisitions to happen.

A Significant Exit for Wiz Founders

If the deal is completed, it would be a notable achievement for Wiz’s founders, Assaf Rappaport, Ami Luttwak, Yinon Costica, and Roy Reznik. The executives, who met in Unit 8200, the cyber intelligence division of the Israel Defense Forces, have driven Wiz to rapid growth since it started.The company based in New York City has become an important player in cloud security  within a short period.

In conclusion, While terms of the potential acquisition are still being finalized and discussions could collapse, the Google-Wiz talks signify a major strategic move for Alphabet. The acquisition of Wiz would not only be Google’s biggest purchase ever but also make its position stronger in the competitive cloud computing market by improving its cybersecurity abilities.

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