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The biggest exit in Israeli high-tech history: Google parent company will acquire Cybersecurity company Wiz for $33 billion, HQ to remain in Israel
Eight months after initial negotiations collapsed, Alphabet, Google's parent company, will announce the largest deal in its history; Israeli company will remain an independent division, the headquarters will remain in Israel, and its founders are expected to receive between $2 billion and $3 billion; Company's 1,800 employees will also benefit from 'sale and retention' grants of hundreds of thousands to millions of dollars.
Just last week, the company held an extravagant Purim party featuring Israel’s top performers, with an estimated budget of 15 million shekels. The earlier leak about Alphabet’s interest in acquiring Wiz also boosted the company’s profile and investor enthusiasm, with major backers such as Andreessen Horowitz and Insight Partners becoming more involved. For Alphabet, acquiring Wiz significantly strengthens its position in cloud computing and cybersecurity — areas currently dominated by competitors Microsoft and Amazon.
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