Google’s parent company, Alphabet, is in advanced talks to acquire cybersecurity startup Wiz for a whopping $23 billion, according to the Wall Street Journal. If finalized, this deal would be Google’s largest acquisition ever, surpassing the $12.5 billion purchase of Motorola Mobility in 2012.
Wiz, founded in 2020, has seen impressive growth, with annual recurring revenue reaching $350 million in 2023, up from $100 million in its first 18 months. This rapid growth has propelled Wiz’s valuation to $12 billion, and this acquisition would value the company at almost double that figure. The deal comes amid Google’s reported decision not to acquire HubSpot due to potential antitrust concerns.
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The acquisition signifies Google’s commitment to expanding its presence in the rapidly growing cybersecurity market. By acquiring Wiz, Google would gain a powerful platform to enhance its security capabilities and offer new services to businesses. While the deal’s finalization and its implications remain uncertain, it’s clear that Google is determined to solidify its position in this critical sector.