Interest in the cybersecurity industry has surged since the global CrowdStrike outage last year, making enterprises more concerned about protecting their digital infrastructures
[BENGALURU] Google-parent Alphabet is in advanced talks to acquire cybersecurity startup Wiz for around US$30 billion, a source familiar with the matter said on Monday (Mar 17), potentially marking the tech giant’s largest deal to date.
The deal has not been signed and could still change, the source said.
Alphabet and Wiz did not immediately reply to Reuters requests for comment.
The Wall Street Journal on Monday first reported the news of the talks between the companies, citing sources familiar with the matter.
Wiz had called off a US$23-billion deal with Alphabet last year to focus on its initial public offering.
The startup provides cloud-based cybersecurity solutions powered by artificial intelligence that help companies identify and remove critical risks on cloud platforms.
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A buyout of this size will most likely face regulatory scrutiny as tech giants are kept under close watch for possible monopolistic practices.
If the deal goes through, it could help Alphabet tap into the cybersecurity industry and expand its booming cloud infrastructure segment, which generated more than US$43 billion in revenue last year.
Alphabet walked away from a deal to acquire online marketing software company HubSpot last year.
Interest in the cybersecurity industry has surged since the global CrowdStrike outage last year, making enterprises more concerned about protecting their digital infrastructures.
Wiz was last valued at US$12 billion in a private funding round in May 2024. REUTERS
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