Google has announced plans to acquire Wiz, a cloud security platform, in an all-cash deal worth $32 billion. The tech giant, owned by Alphabet, expects the acquisition to strengthen its cloud security capabilities and improve security across multiple cloud environments.
The deal, which is one of Google’s largest acquisitions, aims to provide better protection against security threats and offer automated security solutions. By integrating Wiz’s technology, Google hopes to enhance its cloud security services, making them more efficient and scalable for businesses worldwide.
Alphabet’s stock was trading at $164.61, down 1.21% on the Nasdaq following the announcement.
The acquisition follows reports from July that Wiz had previously rejected a $23 billion offer from Google. At the time, the company had planned to pursue an initial public offering (IPO) instead. In a memo to employees, Wiz co-founder Assaf Rappaport acknowledged that turning down such an offer was difficult but necessary. According to a source cited by CNBC, Wiz walked away from the earlier deal due to concerns about antitrust regulations and investor interests.
Founded in 2020, Wiz has experienced rapid growth under Rappaport’s leadership. The company reached $100 million in annual recurring revenue within just 18 months. Wiz specializes in cloud security solutions, including threat prevention, active detection, and incident response. Its services have attracted major businesses looking to protect their cloud infrastructure from cyber threats.
With this acquisition, Google aims to better compete with Microsoft, which has been expanding its own cloud security offerings. Wiz’s portfolio will allow Google to offer more advanced security tools, helping customers detect and respond to threats in real time.
The deal is still subject to regulatory approval, and both companies will continue operating independently until the transaction is finalized. If approved, the acquisition will mark a significant step in Google’s efforts to strengthen its position in the cloud security market.
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