Google, the world’s largest tech company, is reportedly on the verge of acquiring Wiz, a prominent cybersecurity firm, in a deal valued at $23 billion. According to sources familiar with the matter, the agreement could be finalized soon, as reported by the Wall Street Journal on Sunday. This acquisition marks a significant move for Google in strengthening its cybersecurity capabilities.
Founded in 2020 by CEO Asaf Rappaport, Wiz has rapidly grown and gained a valuation of $12 billion. Initially considering an IPO as early as May, the company’s cloud security solutions have attracted major enterprises with extensive computing needs. Wiz’s innovative approach allows cybersecurity professionals to monitor the entire cloud infrastructure of a company. It has garnered support from notable investors such as Sequoia Capital, Index Ventures, Insight Partners, and the Israeli venture capital firm CyberStarts.
If completed, this acquisition will be Google’s largest to date, surpassing its $5.4 billion purchase of Mandiant two years ago. Amid rising cyberattacks on businesses and nations, this move represents a significant enhancement in Google’s cybersecurity portfolio. However, the company faces ongoing antitrust scrutiny, having been sued twice by the Justice Department for antitrust violations, including a recent lawsuit in 2023 targeting its acquisition practices.
