Google’s parent company, Alphabet, is reportedly in advanced talks to purchase cybersecurity company, Wiz, for a substantial $23B – making it the largest acquisition in the tech group’s history. Terms of the deal are yet to be finalized and could still fall through, but both companies seem primed to push this deal across the line.
Wiz is one of the fastest-growing cybersecurity startups in the world and has the potential to boost Google’s cybersecurity capabilities and better compete in the cloud market. It’s a big bet from Google on cybersecurity, but one that could better position them against their close competitors Amazon and Microsoft.
What You Need to Know About Wiz
Wiz is a cloud security startup founded a mere four years ago by Assaf Rappaport, Yinon Costica, Roy Reznik, and Ami Luttwak. The company focuses on analyzing cloud infrastructures for potential threats and vulnerabilities, and in essence, helping businesses protect their vulnerable data.
Salesforce is also a customer of Wiz’s and have invested heavily in the company – Salesforce ventures were part of a $250M funding round in 2021, as well as a $1B funding round in May of this year. The company also boasts that 40% of Fortune 100 companies are clients of theirs.
How It Could Help Google Compete In The Cloud Market
This move from Google gives them a significant opportunity to drastically improve their cloud offerings. Amazon and Microsoft currently lead the “cloud wars” by some distance, as both companies had a head start on Google in terms of cybersecurity and overall service offerings. Thus, the acquisition of Wiz would demonstrate Google’s commitment to strengthening its cloud division and signal its willingness to invest heavily in order to catch up to its rivals.
Wiz offers advanced anomaly detection and response capabilities, which will provide Google with a more robust cloud security solution.
Summary
With Wiz’s powerful tech in its arsenal, Google aims to enhance its cloud services, attract more customers, and boost its revenue.
It’s an exciting development in the cloud computing space, and we can expect to see some interesting shifts in the market as a result.