Google is reportedly in the final stages of talks to acquire cybersecurity startup Wiz. Citing people familiar with the matter, The Wall Street Journal reports that Google plans to pay roughly $23 billion for the startup, marking its largest acquisition to date.
Wiz offers cybersecurity software for cloud computing. The Journal notes that the acquisition could potentially help boost Alphabet’s cloud computing efforts, which currently lag behind its peers.
Google’s largest acquisition to date is its $12.5 billion acquisition of Motorola Mobility in 2012.
Wiz’s website currently notes that it has several high-profile clients, including Bridgewater, FOX, and Colgate-Palmolive.
Wiz was founded in 2020 and raised $1 billion earlier this year at a $12 billion valuation. The startup is one of the few that has been able to raise money at a higher valuation in 2024 outside of the AI space.
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Wiz reported $350 million in annual recurring revenue in 2023. The company is backed by Sequoia Capital, Andreessen Horowitz, Index Ventures, and Lightspeed Venture Partners, amongst others.
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