Google Will Pay $23B To Acquire Cyber Security Firm Wiz

Uploaded on 2024-07-16 in NEWS-Cybersecurity News, FREE TO VIEW

Google's parent comany Alphabet is in advanced talks with the  aim to acquire the cyber security firm Wiz for a reported $23 billion. The comonay provides cloud-based cyber security solutions with real-time threat detection and responses powered by Artificial Intelligence.

Wiz was created in Israel in 2020 andhas its head office in New York and has grown rapidlyp under CEO Assaf Rappaport. It had been considering  an IPO as recently as May, when the company had a valuation of $12 billion.

If completed, the deal would be Google’s largest ever acquisition, following the $5.4 billion it paid to buy Mandiant in 2022. It would also underline a clear and continued bet on cyber security, at a time when nation state and criminal actors have managed to disrupt governments and large organisations. 

Alphapbet does, however, face unprecedented levels of anti-trust scrutiny and the US Justice Department has previously prosecuted  Google on anti-trust grounds. Furthermore, all the major US technlogy businesses face heightened scrutint by European Union regulators following the recent implementation of the EU Digital Markets Act. 

If it goes ahead with the acquisition, it would be a rare example of a major technology company attempting a a very high profile acquisition amid heightened regulatory scrutiny of the sector in bot the US and the European Union.  

Reuters   |    Business Insider    |   CNBC   |    WSJ   |    Benzinga   |    EdgeME   |   

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