Google parent Alphabet is in advanced talks to buy cybersecurity startup Wiz for roughly $23 billion, according to a report by The Wall Street Journal Monday. If a deal is struck, it would mark the…
The move comes as Alphabet and other tech firms are under immense antitrust scrutiny. An acquisition could also help the search giant’s efforts in cloud computing, a important growth driver for the business.Launched by Chief Executive Assaf Rappaport and a handful of colleagues in 2020, Wiz has seen its valuation balloon in recent years. Wiz, which offers cybersecurity software for cloud computing, raised $1 billion earlier this year, giving it a $12 billion valuation at the time.
Wiz reached $100 million in annual recurring revenue after 18 months, and achieved $350 million in annual recurring revenue in 2023, The Journal said. The cybersecurity firm is backed by prominent Silicon Valley venture capitalists including Sequoia Capital, Andreessen Horowitz, Index Ventures, and Lightspeed Venture Partners.
Wiz, which is headquartered in New York with additional offices in the US and Israel, partners with a number of the biggest cloud companies, including Google, Amazon and Microsoft.Google has been a rather conservative acquirer ahead of the Wiz transaction, which would be one of the largest tech deals of late.
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