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Alphabet said yesterday it would buy Wiz for $32 billion in its biggest deal as the Google parent doubles down on cybersecurity to sharpen its edge in the cloud-computing race against Amazon.com and Microsoft.
The price tag is much higher than the roughly $23bn Google had offered for Wiz last year before antitrust worries forced the startup to shelve the deal.
The all-cash deal will bolster Google’s cloud business with Wiz’s AI-powered cybersecurity solutions that companies use to remove critical risks, helping it compete better in an industry benefiting from the rise of generative AI services like ChatGPT.
A harsh regulatory environment in 2024 made it difficult for many firms to push through large deals, but Wall Street is optimistic that the Trump administration would drop some antitrust policies.
One of the fastest-growing software startups, Wiz offers cloud-based cybersecurity solutions and was valued at $12bn in a funding round last May.
After the Google deal collapsed, it said in an internal memo that it would focus on an initial public offering and on higher recurring revenue.
Interest in the cybersecurity industry has been rising since last year’s global CrowdStrike outage roiled operations across industries, prompting companies to invest heavily into safeguarding their online domains.
Wiz works with major cloud providers such as Amazon Web Services, Microsoft’s Azure, Oracle as well as Google Cloud, and counts Morgan Stanley, BMW and luxury powerhouse LVMH among its customers.
Shares of Google were down marginally in premarket trading.
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