Alphabet, the parent company of Google, has agreed to acquire cybersecurity startup Wiz for at least $32 billion, according to sources cited by the Financial Times.
The deal, set to be announced on Tuesday morning, marks Alphabet’s largest purchase to date and is aimed at strengthening its cloud business.
Wiz, known for its AI-powered cybersecurity solutions that help companies manage critical risks, is expected to bolster Google Cloud’s competitive edge against rivals such as Amazon and Microsoft. The acquisition comes after initial talks last year at a lower valuation of $23 billion were called off over antitrust concerns, with Wiz then signaling its intention to pursue an initial public offering.
As part of the deal, Wiz’s advanced technology will be integrated into Alphabet’s cloud offerings, potentially accelerating the company’s push into the lucrative cybersecurity market. Neither Google nor Wiz immediately responded to Reuters' requests for comment.
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Start your day informed with AnewZ Morning Brief: here are the top news stories for the 8th of November, covering the latest developments you need to know.
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