Google parent in talks to buy cybersecurity startup Wiz for $23 billion
Google parent company Alphabet is in advanced talks to acquire cybersecurity Startup Wiz for worth $23billion, the wall street journal reported on Monday.
The deal, being mostly funded in cash, could come together soon, the source added. Wiz, established and founded in Israel and now headquartered in New York, as one of the vigorously the fastest-growing software startups worldwide, offering cloud-based cybersecurity solutions with the real-time threat detection and responses powered by artificial intelligence.
If Alphabet moves ahead with the deal, it would be a rare example of a major technology company attempting a mega-deal amid heightened regulatory scrutiny of the sector under U.S President Joe Biden’s admin. Also, in the recent years, U.S regulators have indicated growing aversion to large technology organization getting bigger through acquisitions.
The official website says that in 2023 Wiz made approximately $350M and collaborates with 40% of Fortune 100 companies. For the most part, the company raised around $1 billion from private investors, thus giving it a valuation of $12 billion.
Aslo, recently in January design software company Synopsys agreed to buy smaller rival Ansys for about $35 billion (about $110 per person in the US). Hewlett Packard Enterprise struck a deal in January to buy networking gear mark Juniper Networks for $14 billion.
Technology accounted for the largest shares of mergers and acquisitions during the first half of the year, jumping more than 42% year-on year to #327.2 billion, as per to data from Dealogic.
