>>
Platform>>
Google>>
Alphabet in Advanced Talks to ...The potential acquisition comes just two months after Wiz announced a $1 billion Series E funding round
Alphabet, Google's parent company, is reportedly on the verge of its largest acquisition to date. The Wall Street Journal reports that Alphabet is in advanced negotiations to purchase cloud security firm Wiz for approximately $23 billion. While the deal is not yet finalized, it could be completed soon, according to sources.
Wiz, founded by former Microsoft employees Assaf Rappaport, Ami Luttwak, Yinon Costica, and Roy Reznik, offers a comprehensive cloud security solution. It integrates data from Amazon Web Services, Microsoft Azure, Google Cloud, and other platforms, scanning for security risks. This acquisition is seen as a strategic move to bolster Google’s cloud business, which saw a 28% growth to $9.57 billion in the first quarter of this year.
The potential acquisition comes just two months after Wiz announced a $1 billion Series E funding round, which valued the company at $12 billion. Since its inception four years ago, Wiz has raised a total of $1.9 billion. At the time of its latest funding round, Wiz reported $350 million in annual recurring revenue. Initially poised to acquire smaller security startups and eventually go public, Wiz might now take a different path under Alphabet's umbrella.
Wiz’s notable investors include Andreessen Horowitz, Lightspeed Venture Partners, Thrive, Greylock, Wellington Management, Cyberstarts, Greenoaks, Howard Schultz, Index Ventures, Salesforce Ventures, and Sequoia Capital. Neither Alphabet nor Wiz has responded to requests for comment from TechCrunch regarding the potential acquisition.