Google Eyes $23 Billion Buyout of Israeli Cybertech Giant Wiz

Google's parent company, Alphabet Inc., is reportedly in advanced negotiations to acquire Israeli cybersecurity firm Wiz for a staggering $23 billion. If successful, the acquisition would highlight the significant role of Israel's military intelligence units in fostering technological innovation.

Wiz, founded by Assaf Rappaport and his colleagues from the famed 8200 military unit, has quickly become a major player in cloud security. The potential deal signifies confidence in Israel's tech industry, despite economic challenges posed by the ongoing conflict in Gaza. The tech sector accounts for approximately 20% of Israel's GDP and 15% of its workforce.

The acquisition would be one of the largest in Israel's history, surpassing Intel's $15.3 billion purchase of Mobileye in 2017. Experts believe this move could prompt further significant investments in Israeli tech companies, reinforcing the nation's status as a global technology hub.

(With inputs from agencies.)