Google in Advanced Talks to Acquire Cybersecurity Firm Wiz for $23 Billion
Google is in advanced talks to acquire cybersecurity company Wiz for $23 billion, the Wall Street Journal reported on Sunday. If the deal goes through, it would be the largest acquisition in the American tech giant's history.
Wiz, a startup founded in 2020, has experienced exponential growth. The company had even considered going public in May 2023, when it was valued at $12 billion. Its security offering provides cybersecurity professionals with a comprehensive view of a company's cloud presence, making it an attractive solution for large enterprises with significant IT resources.
The acquisition would also highlight Google's continued bet on cybersecurity, at a time when cyberattacks have successfully disrupted governments and large organizations. Google has already made significant acquisitions in this space, including the purchase of cybersecurity firm Mandiant for $5.4 billion two years ago. However, the California-based company is currently facing an unprecedented antitrust scrutiny. Its acquisition practices have been under the microscope since 2023. The talks with Wiz show that Google has redeveloped an appetite for mergers and acquisitions, despite competition concerns.
As a result, all cybersecurity companies' stocks will now be under scrutiny, with a premium on valuations. Other deals are likely to mark the end of the year.
