If the deal goes through, it will be biggest ever acquisition by Google’s parent
it is reported that Alphabet’s negotiations to buy cybersecurity start-up Wiz are progressing although have not reached the point of no return. In addition, anti-trust regulators might take a dim view of a leviathan like Alphabet snapping up a potential new leader in a sector. Alphabet acquired cybersecurity firm Mandiant for $5.4 billion in 2022.
According to Reuters, Wiz started life in Israel and now has headquarters in New York. It is one of the fastest-growing software startups globally, providing cloud-based cybersecurity solutions with real-time threat detection and responses powered by artificial intelligence. Wiz works with 40% of Fortune 100 companies, its website says.
Since Wiz was founded in 2020, it has raised about $2 billion in funding since from the likes of Sequoia Capital. It was recently valued at $12 billion and is led by former Microsoft exec Assaf Rappaport.