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Gbeminiyi Ogunleye
1 month ago
Overview
Google to acquire cloud security platform Wiz for $32bn
Google said Tuesday it will acquire cloud security platform Wiz for $32 billion, citing the need for greater cybersecurity capacity as artificial intelligence embeds itself in technology infrastructure.
The all-cash deal brings Wiz into the Google Cloud operation, boosting the capacity of consumers to use “multiple clouds” and providing “an end-to-end security platform for customers, of all types and sizes, in the AI era,” the companies said in a joint statement.
The deepening influence of AI makes “cybersecurity increasingly important in defending against emergent risks and protecting national security,” they added.
The transaction, the largest ever sought by Google or parent Alphabet, will test US President Donald Trump’s openness to large takeovers after resistance to such deals by the administration of his predecessor Joe Biden.
Alphabet had been close to a Wiz takeover last summer, but company leaders opted to stay independent at the time with an eye towards an initial public offering, CEO Assaf Rappaport said in a message to employees after the earlier deal fell apart.
