Google’s Parent Company Close to Achieving Largest Acquisition

According to Reuters, Google’s parent company Alphabet is in deep talks to acquire Israeli cybersecurity startup Wiz for $23 billion, which will be its largest ever acquisition.

Wiz was founded in Tel Aviv and is currently headquartered in New York. It provides network security products, including artificial intelligence threat detection and response, to some large companies such as Microsoft, Amazon, Morgan Stanley, and Shell.

According to sources, Alphabet will primarily use cash payments, and the transaction “may be completed soon”.

Wiz has previously raised $2 billion in funding, with a valuation of approximately $12 billion. Earlier this year, this startup acquired Gem Security, a cloud detection and response expert, for $350 million.

Alphabet has strengthened its cybersecurity investment portfolio in recent years, including the $5.4 billion acquisition of professional company Mandiant in 2022.