Google Eyes $23 Billion Deal to Boost Cloud Security with Wiz Acquisition

Google is in advanced talks to acquire cloud security company Wiz for up to $23 billion. The acquisition would strengthen its cloud security offerings against competitors like Amazon and Microsoft. Wiz, founded in 2020, provides tools to scan organisational infrastructure for threats and has grown rapidly, reflecting high demand for cloud security.

Alphabet's Google is in advanced discussions to acquire cloud security specialist Wiz for up to $23 billion, marking its most expensive acquisition to date. If successful, the deal would significantly boost Google's cloud security offerings, allowing it to better compete with Amazon and Microsoft in this critical sector, experts stated.

According to a person familiar with the matter, the acquisition would equip Google with comprehensive cybersecurity tools to combat ransomware and other threats that jeopardize big corporations. Cybersecurity analyst Jerome Seguera from MalwareBytes emphasized the hot demand for cloud security, noting that Wiz provides customers with unparalleled visibility into their assets.

Founded in 2020, Wiz has been riding the wave of increased remote work and cloud adoption, and it has seen rapid growth. At the RSA cybersecurity conference in San Francisco, Wiz announced it was valued at $12 billion and projected an annual revenue of $1 billion by 2025. The prospective acquisition comes amid a surge in global cybersecurity dealmaking, with 120 deals worth $12.4 billion recorded in the first half of 2024.

(With inputs from agencies.)