On Tuesday, Google parent Alphabet Inc.
The acquisition marks Alphabet's largest deal to date, surpassing its $12.5 billion purchase of Motorola Mobility in 2012.
Founded in 2020 by former Microsoft Corporation
Headquartered in New York, Wiz was valued at $16 billion in late 2023 and backed by Sequoia and Andreessen Horowitz. Alphabet attempted to acquire the company for $23 billion earlier, but talks fell through over regulatory and structural issues.
To enhance Google Cloud, Alphabet also acquired Mandiant in March 2022 for $5.40 billion to integrate with the Google Cloud platform. It also acquired Looker in June 2019 for $2.60 billion and Apigee in 2016 for $625 million.
Google Cloud's acquisition of Wiz advances its strategy in two rapidly growing areas: cloud security and multicloud adoption in the AI era. As AI-driven cloud usage evolves, the need for scalable, advanced cybersecurity has become critical for businesses and national security.
Wiz offers a user-friendly platform compatible with major cloud providers, serving organizations of all sizes with growing security needs. With Google Cloud's AI and security expertise, it will become more automated, scalable, and cost-effective.
Sundar Pichai, CEO of Google, commented, "From its earliest days, Google's strong security focus has made us a leader in keeping people safe online. Today, businesses and governments that run in the cloud are looking for even stronger security solutions, and greater choice in cloud computing providers. Together, Google Cloud and Wiz will turbocharge improved cloud security and the ability to use multiple clouds."
At the end of the fourth quarter, Alphabet had $95.66 billion in cash on its balance sheet.
Price Action: GOOGL shares are trading higher by 0.03% at $164.34 premarket at the last check Tuesday.
