Google in advanced negotiations to acquire cyber startup Wiz for $23 billion – Report

Search engine giant Google is reportedly in advanced talks to acquire internet startup Wiz for $23 billion.

If the deal is completed, it would be the company’s largest acquisition ever.

The Wall Street Journal reported on Sunday, citing people familiar with the matter.

The newspaper added that a deal could be imminent and would also underline a clear and ongoing bet on cybersecurity.

Wiz provides a complete solution for cloud security by ingesting information from Google Cloud, Microsoft Azure, Amazon Web Services, and other cloud platforms, then analyzing it all to find security risks.

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The transaction is likely seen by Alphabet management as a means to strengthen Google’s cloud business, which grew 28% to $9.57 billion in the first quarter of this year.

Wiz raised $1 billion in Series E funding at a valuation of $12 billion two months prior to the release of this report.

Yinon Costica, Roy Reznik, Assaf Rappaport, and Ami Luttwak, all former Microsoft employees, founded Wiz four years ago.

The company has raised $1.9 billion to date.

The business had recurring revenue of $350 million annually at the time of its last investment round.

Google in advanced negotiations to acquire cyber startup Wiz for $23 billion – Report first appeared on Latest Nigeria News | Headlines from Ripples Nigeria.