Why Google is willing to spend over $20 bn to buy cybersecurity startup Wiz

Remember when Google made waves in 2012 by acquiring Motorola Mobility for $12.5 billion? Well, Google it seems is back in the acquisition game with an even bigger move that’s set to shake up the industry!

Google's parent Alphabet is eyeing a record-breaking acquisition of Wiz, a New York-based cybersecurity startup, valued at a staggering $23 billion! If this deal goes through, it will be Google’s largest acquisition ever. This move signals a major push into cybersecurity for Alphabet, just two years after their $5.4 billion acquisition of Mandiant.

So, who is Wiz, and why is Google so interested in the company? Founded in Israel and now based in New York, Wiz is a rapidly growing company specializing in cloud-based cybersecurity services. Their advanced AI technology detects and responds to threats in real-time, making them a leader in the industry. They partner with major cloud service providers like Microsoft and Amazon and have a prestigious client list that includes Morgan Stanley and DocuSign. As per reports, in 2023, Wiz generated around $350 million in revenue and works with 40% of Fortune 100 companies!

If this deal goes through, it could solidify Google’s reputation as a top-tier secure cloud platform. This isn’t just about expanding their portfolio; it’s about setting new standards in cybersecurity and cloud services.