Google owner Alphabet will buy cybersecurity company Wiz for $32 billion in a transaction set up to boost Tech Giant’s in-house cloud computing amid the rapid growth of artificial intelligence.
If it closes, the cash deal announced on Tuesday would be Google’s most expensive acquisition in the company’s 25-year history. Wiz reported a $23 billion purchase proposal from Alphabet last July.
With this purchase, Google will bring new momentum to its efforts to compete in the cloud computing business by providing more security for its services.
“Both Wiz and Google Cloud are spurred by the belief that cloud security needs to be easier, more accessible, more intelligent and democratized, allowing more organizations to safely adopt and use the cloud and AI,” Wiz CEO Assaf Rappaport said in a blog post.
The company says Wiz will join Google Cloud. The transaction says it “represents corporate investments to accelerate two major growth trends in the AI era.” “Improved cloud security and the ability to use multiple clouds.”
Google CEO Sundar Pichai said in a statement that Google Cloud and Wiz “have improved cloud security and the ability to use multiple clouds.”
Co-founder and CEO Assaf Rappaport added that the deal “strengthens our mission to improve security and prevent violations by providing additional resources and deep AI expertise.”
New York-based Wiz was founded in 2020 and creates security tools designed to store information stored in remote data centers from intruders.
The proposed acquisition will appear in-depth to antitrust regulators. Many hope that the Trump administration will become more accessible to business transactions, but it also shows big technology skepticism.
Andrew Ferguson, chairman of the new Federal Trade Commission, vowed to maintain a rigorous review process for mergers and acquisitions.
