Alphabet, ‘Google’s Parent Company in talks to Acquire Cloud Security Cos Wiz for $23B. The tech giant is about to make its biggest acquisition and the company is in advanced talks to acquire Wiz for around $23 billion and the deal isn’t finalized.
Wiz offers an all-in-one approach to cloud security, ingesting data from Amazon Web Services, Microsoft Azure, Google Cloud scanning it all for security risk factors.
Founded in 2020 and headquartered in New York, Wiz has raised about $2 billion from investors. The company, led by Israeli founder and former Microsoft executive Assaf Rappaport, was most recently valued at $12 billion. Its backers include venture capital firms Sequoia and Thrive. Wiz has research and development facilities in Tel Aviv.
Presumably, Alphabet executives see the deal as a way to fortify Google’s cloud business, which grew 28% to $9.57 billion in the first quarter of this year.
Neither Google nor Wiz immediately responded to TechCrunch’s requests for comment.
This report comes just two months after Wiz announced raising a $1 billion Series E at a $12 billion valuation.
Founded four years ago by former Microsoft employees Assaf Rappaport, Ami Luttwak, Yinon Costica, and Roy Reznik, Wiz has raised a total of $1.9 billion.
At the time of its most recent funding, the company said it had $350 million in annual recurring revenue.
The company’s investors include Andreessen Horowitz, Lightspeed Venture Partners, Thrive, Greylock, Wellington Management, Cyberstarts, Greenoaks, Howard Schultz, Index Ventures, Salesforce Ventures, and Sequoia Capital.
