Google struck a deal to acquire Israeli cybersecurity company Wiz in a deal worth $32 billion, an agreement coming less than a year after talks between the pair fell through.
The Alphabet-owned company stated Wiz would join Google Cloud once the deal is completed, subject to customary closing conditions.
Adding Wiz to Google Cloud will help the unit accelerate what the company said are two “large and growing trends in the AI era: improved cloud security and the ability to use multicloud”.
Google explored the acquisition of Wiz in the middle of 2024, however talks were abandoned as the cybersecurity player opted to focus on a potential IPO instead.
The Financial Times reported Wiz’s management were also concerned about potential antitrust challenges.
At the time, a deal worth $23 billion was mooted, $9 billion less than the price that has now been agreed.
Should it go through, the buy would represent Google’s largest ever acquisition, which is currently the purchase of device maker Motorola Mobility for $12.5 billion in 2012.
The combined Google Cloud, Wiz entity will target a range of areas, including: improving how security is designed, operated and automated for customers; provide cybersecurity teams with automated platforms; lower costs; protect against new threats; and boost adoption of multicloud security.
Sundar Pichai, CEO of Google, believes the combined entity will “turbocharge improved cloud security”. Thomas Kurian, CEO of Google Cloud, added the pair “share a joint vision to make cybersecurity more accessible and simpler to use for organisations of any size and industry”.
Source: Mobile World Live
