Google is reportedly close to acquiring cloud security company Wiz in a deal worth up to $23 billion. The move would be Google’s most expensive acquisition to date and would significantly strengthen its cloud security offerings for large organizations, a prime target for hackers.
Wiz specializes in comprehensive cloud security solutions, offering tools for scanning infrastructure and software for threats, providing organizations with a comprehensive view of their security posture. The company has experienced rapid growth since its founding in 2020, fueled by the shift to cloud environments and remote work.
Advertisement
Hey there! Want to support us? If you’re planning on shopping on Amazon, please consider using amzn.to/4bPDFNL. It doesn’t cost you anything extra, but helps us keep the lights on. Thanks for your support!
The acquisition is expected to help Google compete more effectively with cloud rivals Amazon Web Services (AWS) and Microsoft Azure. The cloud security market is booming, driven by the increasing reliance of organizations on cloud-based services and the growing sophistication of cyberattacks.
The deal highlights the growing importance of cloud security and the increased activity in the cybersecurity market. The potential acquisition comes at a time when cybersecurity dealmaking has surged, with 120 global cybersecurity deals announced in the first half of 2024, compared to 137 deals in all of 2023.