Get the latest tech news
Google Near $23 Billion Deal for Cybersecurity Startup Wiz
Alphabet, Google's parent company, is reportedly in advanced negotiations to acquire cloud security startup Wiz for approximately $23 billion, Wall Street Journal reported on Sunday. The potential deal, which would value Wiz at nearly double its most recent private valuation of $12 billion, undersco...
The potential deal, which would value Wiz at nearly double its most recent private valuation of $12 billion, underscores the growing importance of cybersecurity in Alphabet's enterprise strategy as it seeks to narrow the gap with cloud computing rivals such as Microsoft, Morgan Stanley said in a note.Founded in January 2020, Wiz has quickly established itself as a leading player in the Cloud-Native Application Protection Platform (CNAPP) space, utilizing an agentless approach to secure cloud application deployments throughout their lifecycle. Wiz has experienced rapid growth since its inception, with annual recurring revenue (ARR) exceeding $350 million as of January 2024, representing a year-over-year increase of over 75%. If confirmed, the acquisition would mark Alphabet's largest to date, significantly expanding its footprint in the burgeoning cloud security market.
Or read this on Slashdot
