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Google To Buy Cloud Security Firm Wiz for $32 Billion in Record-Breaking Deal
Google has reached an agreement to acquire cloud security startup Wiz Inc. in an all-cash deal valued at $32 billion. If completed, the acquisition would mark the largest in Google's history. The deal is pending regulatory approval and customary closing conditions.
Once the deal closes, Google plans to integrate Wiz into Google Cloud to bolster its efforts in two key spaces. "This acquisition represents an investment by Google Cloud to accelerate two large and growing trends in the AI era: improved cloud security and the ability to use multiple clouds (multicloud)," wrote Google in a release announcing the deal.
Google said that Wiz's technology will improve its cloud services in the following ways:
- Automate security operations to reduce manual intervention.
- Lower security costs for businesses of all sizes.
- Enhance breach prevention and response in cloud environments.
- Encourage multicloud adoption, improving flexibility for enterprises.
Wiz has rapidly grown in the cloud security posture management (CSPM) and cloud-native application protection (CNAPP) space since emerging in 2020. Its solutions are widely used by enterprises such asBMW, Salesforce and Slack. Google has pursued the company for some time and offered $23 billion to acquire the company last July – an offer that was rejected.
Google said the acquisition will allow Wiz to scale its technology while continuing to operate independently across major cloud . Wiz said the move will help the company to further grow its technology.
"We expect this change to enable us to execute and innovate even faster," said Assaf Rappaport, CEO of Wiz. "Becoming part of Google Cloud is effectively strapping a rocket to our backs: it will accelerate our rate of innovation faster than what we could achieve as a standalone company."