Google Parent Alphabet in Talks to Acquire Cybersecurity Startup Wiz for $23 Billion

Google parent in talks to buy cybersecurity startup Wyz for $23 billion Reuters - ExBulletin

NEW YORK (Reuters) - Google parent Alphabet Inc (NASDAQ:) is in talks to buy cybersecurity startup Wizz Inc for about $23 billion, people familiar with the matter said on Sunday, in a deal that would be Google's largest acquisition to date. The deal, which is being funded mostly in cash and could close soon, was announced by the people, who spoke on condition of anonymity. Founded in Israel and now headquartered in New York, Wiz is one of the world's fastest-growing software startups, offering cloud-based cybersecurity solutions with real-time threat detection and response powered by artificial intelligence. If Alphabet goes ahead with the deal, it would be a rare example of a big technology company attempting a big deal amid increased regulatory scrutiny of the tech industry under U.S. President Joe Biden's administration. U.S. regulators have shown growing aversion to big tech companies getting bigger through acquisitions in recent years. According to its website, Wizz expects to generate approximately $350 million in revenue in 2023 and works with 40% of the Fortune 100. The company recently raised $1 billion in a private funding round, valuing it at $12 billion. Alphabet and Wiz did not immediately respond to requests for comment. Wizz has partnerships with multiple cloud providers, including Microsoft (NASDAQ:) and Amazon (NASDAQ:), and its clients include companies ranging from Morgan Stanley to DocuSign (NASDAQ:). Wizz, which has 900 employees across the U.S., Europe, Asia and Israel, previously said it planned to add 400 people globally in 2024. Alphabet recently decided not to pursue an acquisition of online marketing software company HubSpot (NYSE:). This year has seen strong deal activity across the technology sector. In January, design software company Synopsys (NASDAQ:) agreed to buy smaller rival Ansys (NASDAQ:) for about $35 billion. Hewlett Packard Enterprise (NYSE:) inked a deal to buy network equipment maker Juniper Networks (NYSE:) for $14 billion in January. According to Dealogic data, the technology industry accounted for the largest share of mergers and acquisitions in the first half of this year, increasing more than 42% from the same period last year to $327.2 billion. The Wall Street Journal reported on Alphabet's talks with Wizz early Sunday. What Are The Main Benefits Of Comparing Car Insurance Quotes Online

Google's parent company considering $23 billion cloud computing deal: Report - ExBulletin

Google headquarters in Mountain View, California, USA, Monday, January 30, 2023. (Marlena Sloss/Bloomberg via Getty Images) WASHINGTON -- Google's parent company Alphabet Inc. is reportedly planning to acquire cloud server startup Wizz Inc. in what would be the company's largest acquisition to date. The deal, first reported by The Wall Street Journal and later confirmed by Reuters, would be worth about $23 billion. Founded in Israel and now run from New York, Wiz was created by tech mogul and billionaire Assaf Rapaport and uses artificial intelligence to provide real-time threat detection and response for cloud environments. While Wiz is not a defense-focused company, it does business with at least one Department of Defense entity, the Naval Information Warfare Center, and its focus on cloud security makes it likely to be involved in the Defense Department's Joint Warfighting Cloud Capability (JWCC) initiative, a plan to modernize the Department of Defense's information technology infrastructure for which the Defense Department has awarded contracts to Google, Amazon Web Services, Microsoft, and Oracle. RELATED: Defense Department issues first JWCC order of business to all four vendors Wizz is one of the fastest-growing technology companies, according to The Wall Street Journal. The startup generated about $350 million in revenue last year and works with 40% of the Fortune 100, according to its website. It also partners with tech giants such as Amazon Web Services, Google Cloud and Azure. Wiz and Alphabet did not respond to inquiries from Breaking Defense at the time of publication. The deal could be significant for Google, which has lagged behind competitors in cloud computing. Google ranks third in the space behind Amazon and Microsoft, according to The Wall Street Journal. But recent investments and potential acquisitions could strengthen its position. Google's cloud business grew 26 percent last year, and the division turned a profit for the first time, according to The Wall Street Journal. If the Wizz deal goes through, it would be unusual in one respect: Leading tech companies have shied away from big acquisitions in recent years amid increased scrutiny under President Joe Biden's administration and as regulators remain hostile to companies building scale through acquisitions for fear of industry monopolies. Alphabet is currently awaiting a ruling on an antitrust lawsuit brought by the Department of Justice that accuses the company of using illegal tactics to gain dominance in internet search. The Justice Department filed a second antitrust lawsuit last year alleging that Google engaged in unfair practices in its advertising technology business, and is awaiting trial. Recommendation What Are The Main Benefits Of Comparing Car Insurance Quotes Online

Google's biggest acquisition ever: Parent company Alphabet to buy startup Wiz for $23 billion - ExBulletin

Google parent Alphabet is on the brink of acquiring cybersecurity startup Wiz for about $23 billion, which would make it Alphabet's largest acquisition to date. Reuters reports that most of the payment will be in cash and the deal could close soon. Wiz started in Israel and is now based in New York. It is a fast-growing company that provides cloud-based cybersecurity services that use artificial intelligence to detect and respond to threats in real time. In 2023, Wiz is expected to generate approximately $350 million in revenue and works with 40% of the Fortune 100 companies. The potential deal is notable as President Joe Biden's U.S. government is watching more closely to ensure big tech companies don't gain too much power through acquisitions, but Alphabet is still moving forward with its plans. Wiz partners with major cloud service providers such as Microsoft and Amazon. Customers include leading enterprises such as Morgan Stanley and DocuSign. Wiz has 900 employees across the US, Europe, Asia and Israel, with plans to hire an additional 400 in 2024. This would be the tech giant's largest acquisition since it bought Motorola Mobility for $12.5 billion in 2012. However, the company ended up selling Motorola Mobility for just $2.91 billion. A decade ago, Motorola was seen as a direct rival to Samsung in the Android smartphone market. Alphabet recently considered buying online marketing software company HubSpot but dropped the bid, and now appears to be looking at acquiring Wiz and focusing on beefing up its cybersecurity capabilities. For now, neither Alphabet nor Wizz have commented on the potential acquisition. The tech industry is closely watching whether this big deal goes through, as it could have a major impact on cybersecurity and Alphabet's business. What Are The Main Benefits Of Comparing Car Insurance Quotes Online

Google parent in talks to buy cybersecurity startup Wiz for $23bln

NEW YORK: Google parent Alphabet is in advanced talks to acquire cybersecurity startup Wiz for roughly $23 billion, a person familiar with the matter said on Sunday, in a deal that would represent the technology giant's biggest acquisition ever. The deal, being funded mostly in cash, could come together soon, the source added, speaking on condition of anonymity. Wiz, founded in Israel and now headquartered in New York, is one of the fastest-growing software startups globally, providing cloud-based cybersecurity solutions with 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 administration. In recent years, U.S. regulators have indicated growing aversion to large technology companies getting bigger through acquisitions. Wiz generated about $350 million in revenue in 2023 and works with 40% of Fortune 100 companies, according to its website. It recently raised $1 billion in a private funding round that valued the company at $12 billion. Alphabet and Wiz did not immediately respond to requests for comment. Wiz works with multiple cloud providers such as Microsoft and Amazon, and counts companies from Morgan Stanley to DocuSign among its customers. With 900 employees across the United States, Europe, Asia and Israel, Wiz previously said it planned to add 400 workers globally in 2024. Alphabet recently decided not to pursue a takeover of online marketing software company HubSpot. Dealmaking in the broader technology sector has experienced a pickup this year. In January, design software company Synopsys agreed to buy smaller rival Ansys for about $35 billion. Hewlett Packard Enterprise struck a deal in January to buy networking gear maker Juniper Networks for $14 billion. Technology accounted for the largest share of mergers and acquisitions during the first half of the year, jumping more than 42% year-on-year to $327.2 billion, according to data from Dealogic. The Wall Street Journal reported Alphabet's talks with Wiz earlier on Sunday. (Reporting by Milana Vinn in New York and Urvi Dugar in Bengaluru; Editing by Will Dunham, Lisa Shumaker and Andrea Ricci)

Google parent in talks to buy cybersecurity startup Wiz for $23 billion

(Adds background on Alphabet and Wiz, tech sector deals) By Milana Vinn and Steven Scheer NEW YORK, July 14 (Reuters) - Google parent Alphabet is in advanced talks to acquire cybersecurity startup Wiz for roughly $23 billion, a person familiar with the matter said on Sunday, in a deal that would represent the technology giant's biggest acquisition ever. The deal, being funded mostly in cash, could come together soon, the source added, speaking on condition of anonymity. Wiz, founded in Israel and now headquartered in New York, is one of the fastest-growing software startups globally, providing cloud-based cybersecurity solutions with 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 administration. In recent years, U.S. regulators have indicated growing aversion to large technology companies getting bigger through acquisitions. Wiz generated about $350 million in revenue in 2023 and works with 40% of Fortune 100 companies, according to its website. It recently raised $1 billion in a private funding round that valued the company at $12 billion. Alphabet and Wiz did not immediately respond to requests for comment. Wiz works with multiple cloud providers such as Microsoft and Amazon, and counts companies from Morgan Stanley to DocuSign among its customers. With 900 employees across the United States, Europe, Asia and Israel, Wiz previously said it planned to add 400 workers globally in 2024. Alphabet recently decided not to pursue a takeover of online marketing software company HubSpot. Dealmaking in the broader technology sector has experienced a pickup this year. In January, design software company Synopsys agreed to buy smaller rival Ansys for about $35 billion. Hewlett Packard Enterprise struck a deal in January to buy networking gear maker Juniper Networks for $14 billion. Technology accounted for the largest share of mergers and acquisitions during the first half of the year, jumping more than 42% year-on-year to $327.2 billion, according to data from Dealogic. The Wall Street Journal reported Alphabet's talks with Wiz earlier on Sunday. (Reporting by Milana Vinn in New York and Urvi Dugar in Bengaluru; Editing by Will Dunham, Lisa Shumaker and Andrea Ricci)

Google parent in talks to buy cybersecurity startup Wiz for $23 billion

Small figurines are seen in front of displayed Alphabet logo in this illustration taken February 11, 2022. -- Reuters file Google parent Alphabet is in advanced talks to acquire cybersecurity startup Wiz for roughly $23 billion, a person familiar with the matter said on Sunday, in a deal that would represent the technology giant's biggest acquisition ever. The deal, being funded mostly in cash, could come together soon, the source added, speaking on condition of anonymity. Wiz, founded in Israel and now headquartered in New York, is one of the fastest-growing software startups globally, providing cloud-based cybersecurity solutions with 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 administration. In recent years, U.S. regulators have indicated growing aversion to large technology companies getting bigger through acquisitions. Wiz generated about $350 million in revenue in 2023 and works with 40% of Fortune 100 companies, according to its website. It recently raised $1 billion in a private funding round that valued the company at $12 billion. Alphabet and Wiz did not immediately respond to requests for comment. Wiz works with multiple cloud providers such as Microsoft and Amazon, and counts companies from Morgan Stanley to DocuSign among its customers. With 900 employees across the United States, Europe, Asia and Israel, Wiz previously said it planned to add 400 workers globally in 2024. The Wall Street Journal reported Alphabet's talks with Wiz earlier on Sunday.

Google parent in talks to buy cybersecurity startup Wiz for $23 billion

The deal, being funded mostly in cash, could come together soon, the source added, speaking on condition of anonymity. Wiz, founded in Israel and now headquartered in New York, is one of the fastest-growing software startups globally, providing cloud-based cybersecurity solutions with 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 administration. In recent years, U.S. regulators have indicated growing aversion to large technology companies getting bigger through acquisitions. Wiz generated about $350 million in revenue in 2023 and works with 40% of Fortune 100 companies, according to its website. It recently raised $1 billion in a private funding round that valued the company at $12 billion. Alphabet and Wiz did not immediately respond to requests for comment. Wiz works with multiple cloud providers such as Microsoft and Amazon, and counts companies from Morgan Stanley to DocuSign among its customers. With 900 employees across the United States, Europe, Asia and Israel, Wiz previously said it planned to add 400 workers globally in 2024. Alphabet recently decided not to pursue a takeover of online marketing software company HubSpot. Dealmaking in the broader technology sector has experienced a pickup this year. In January, design software company Synopsys agreed to buy smaller rival Ansys for about $35 billion. Hewlett Packard Enterprise struck a deal in January to buy networking gear maker Juniper Networks for $14 billion. Technology accounted for the largest share of mergers and acquisitions during the first half of the year, jumping more than 42% year-on-year to $327.2 billion, according to data from Dealogic. The Wall Street Journal reported Alphabet's talks with Wiz earlier on Sunday. (Reporting by Milana Vinn in New York and Urvi Dugar in Bengaluru; Editing by Will Dunham, Lisa Shumaker and Andrea Ricci)

Google parent in talks to buy cybersecurity startup Wiz for $23 billion

Small figurines are placed in front of a displayed Alphabet logo in this illustration taken Feb. 11, 2022. Reuters-Yonhap Google parent Alphabet is in advanced talks to acquire cybersecurity startup Wiz for roughly $23 billion, a person familiar with the matter said on Sunday, in a deal that would represent the technology giant's biggest acquisition ever. The deal, being funded mostly in cash, could come together soon, the source added, speaking on condition of anonymity. Wiz, founded in Israel and now headquartered in New York, is one of the fastest-growing software startups globally, providing cloud-based cybersecurity solutions with 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 administration. In recent years, U.S. regulators have indicated growing aversion to large technology companies getting bigger through acquisitions. Wiz generated about $350 million in revenue in 2023 and works with 40 percent of Fortune 100 companies, according to its website. It recently raised $1 billion in a private funding round that valued the company at $12 billion. Alphabet and Wiz did not immediately respond to requests for comment. Wiz works with multiple cloud providers such as Microsoft and Amazon, and counts companies from Morgan Stanley to DocuSign among its customers. With 900 employees across the United States, Europe, Asia and Israel, Wiz previously said it planned to add 400 workers globally in 2024. Alphabet recently decided not to pursue a takeover of online marketing software company HubSpot. Dealmaking in the broader technology sector has experienced a pickup this year. In January, design software company Synopsys agreed to buy smaller rival Ansys for about $35 billion. Hewlett Packard Enterprise struck a deal in January to buy networking gear maker Juniper Networks for $14 billion. Technology accounted for the largest share of mergers and acquisitions during the first half of the year, jumping more than 42 percent year-on-year to $327.2 billion, according to data from Dealogic. The Wall Street Journal reported Alphabet's talks with Wiz earlier on Sunday. (Reuters)

Google parent in talks to buy cybersecurity startup Wiz for $23 billion

Small figurines are placed in front of a displayed Alphabet logo in this illustration taken Feb. 11, 2022. Reuters-Yonhap Google parent Alphabet is in advanced talks to acquire cybersecurity startup Wiz for roughly $23 billion, a person familiar with the matter said on Sunday, in a deal that would represent the technology giant's biggest acquisition ever. The deal, being funded mostly in cash, could come together soon, the source added, speaking on condition of anonymity. Wiz, founded in Israel and now headquartered in New York, is one of the fastest-growing software startups globally, providing cloud-based cybersecurity solutions with 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 administration. In recent years, U.S. regulators have indicated growing aversion to large technology companies getting bigger through acquisitions. Wiz generated about $350 million in revenue in 2023 and works with 40 percent of Fortune 100 companies, according to its website. It recently raised $1 billion in a private funding round that valued the company at $12 billion. Alphabet and Wiz did not immediately respond to requests for comment. Wiz works with multiple cloud providers such as Microsoft and Amazon, and counts companies from Morgan Stanley to DocuSign among its customers. With 900 employees across the United States, Europe, Asia and Israel, Wiz previously said it planned to add 400 workers globally in 2024. Alphabet recently decided not to pursue a takeover of online marketing software company HubSpot. Dealmaking in the broader technology sector has experienced a pickup this year. In January, design software company Synopsys agreed to buy smaller rival Ansys for about $35 billion. Hewlett Packard Enterprise struck a deal in January to buy networking gear maker Juniper Networks for $14 billion. Technology accounted for the largest share of mergers and acquisitions during the first half of the year, jumping more than 42 percent year-on-year to $327.2 billion, according to data from Dealogic. The Wall Street Journal reported Alphabet's talks with Wiz earlier on Sunday. (Reuters)

Google near deal to acqurie cybersecurity startup Wiz for $23 billion - WSJ By Investing.com

Alphabet Inc Class A (NASDAQ:GOOGL), the parent company of Google, is in advanced talks to acquire cybersecurity startup Wiz for about $23 billion, the Wall Street Journal reported Sunday, citing people familiar with the matter. If the deal is finalized, it will be the company's largest ever acquisition. The news comes days after reports surfaced that Alphabet has decided not to pursue an acquisition of HubSpot (NYSE: NYSE:HUBS), a company with a market cap of over $24 billion. Antitrust scrutiny was said to have played a part in the company's decision not to acquire HubSpot. Wiz posted annual recurring revenue of $350 million in 2023, up from $100 million in its first 18 months after its founding in 2020 by CEO Assaf Rappaport. The company raised $1 billion earlier this year at a valuation of $12 billion, suggesting the takeover is nearly double from those levels. Wiz is backed by venture capitalists, including Sequoia Capital, Andreessen Horowitz, Index Ventures, and Lightspeed Venture Partners. Wiz was one of the rare startups outside of AI to raise capital at a higher valuation in 2024. Many startups are suffering from a tech boom hangover fueled by the low-interest rate environment.

Five things to know about Microsoft, HubSpot, and the IPO - ExBulletin

Wedbush Securities analyst Dan Ives said it would be a gauntlet to Microsoft and Amazon for Google, and a big bet on cybersecurity to complement its flagship cloud product, GCP. Here are five key things to know about Google's potential $23 billion acquisition of security startup Wizz. Google's acquisition of Wiz could be groundbreaking in the cybersecurity space, with the acquisition valued at a record $23 billion and potentially revolutionizing both the cloud security and AI sectors. The Mountain View, California-based tech giant has more than $24 billion in cash and cash equivalents as of March 31, 2024, making this big acquisition realistic. For Google, it's a warning to Microsoft and Amazon and a big bet on a cybersecurity sector that will complement its flagship GCP. [Google Cloud Platform] The company will launch its cloud offering, Wedbush Securities analyst Dan Ives said in an investor note. [Related: Google Cloud Exec: Microsoft Is Paying Off Complainants After Antitrust Ruling] Importantly, news of Google's potential acquisition of the New York-based startup comes on the heels of the tech giant abandoning its plans to acquire HubSpot, at the same time as antitrust lawsuits are on the rise around the world as government authorities seek to block monopoly-creating acquisitions. Who is Wiz? Founded in 2020, Wiz is a New York-based cybersecurity startup originally founded in Israel by co-founder and CEO Assaf Rapaport. The startup was founded by members of the Israeli military's intelligence unit, Unit 8200. Wiz, which was recently named to CRN's "10 Hottest AI Startups for 2024" list, offers technology that scans all layers of the cloud to provide visibility while also identifying and eliminating risks within it. Additionally, Wiz recently acquired security startup Gem Security to bolster its cloud detection and response capabilities. Wiz will no doubt be a particular benefit to Google's cloud business, Google Cloud, which is the driving force behind the company's cybersecurity, cloud and AI strategy. Google also hasn't shied away from deals with security companies, as evidenced by its acquisition of cybersecurity firm Mandiant for $5.4 billion in 2022. Google and Wiz did not immediately respond to requests for comment on the matter at the time of publication. CRN breaks down five key things partners, investors and customers need to know about Google's potential acquisition of Wiz, including that co-founder and CEO Assaf Rapaport told CRN earlier this year that he wanted to take Wiz public. Google has $24 billion in cash and walks away from HubSpot deal As of March 31, 2024, Google has over $24 billion in cash and cash equivalents. Google had $16.8 billion in free cash flow, defined as net cash provided by operating activities minus capital expenditures. In terms of total cash, cash equivalents, and marketable securities, Google has over $108 billion. All of this means the tech giant has cash on hand to make big acquisitions in 2024. Earlier this year, it was reported that Google was considering spending billions of dollars to acquire HubSpot in order to significantly strengthen its CRM technology and customer base. However, last week it was reported that Google had backed out of the deal. Bottom line: Google has the cash to spend on Wiz. It would cost billions to buy HubSpot, too. Google's moves over the past few months suggest the company may be poised to make a big acquisition. The $23 billion deal represents 70 times Wiz's revenue. Wiz is expected to generate $350 million in annual recurring revenue in 2023. The reported acquisition price of $23 billion for Wiz means Google is willing to spend about 70 times Wiz's total sales. Notably, Wiz is heavily backed by Silicon Valley venture capitalists including Salesforce Ventures, Capital Partners, Lightspeed, Cyberstarts, Sequoia, Insight Partners, Index Ventures and Blackstone. Wiz is one of the world's fastest growing software startups, providing cloud-based cybersecurity services with real-time, AI-powered threat detection and response capabilities. The company has about 900 employees worldwide, mostly based in the U.S., Europe, Asia and Israel, and Wizz recently announced it hopes to hire an additional 400 employees worldwide in 2024. Bottom line: Wiz is currently one of the hottest startups in the world with growing revenue and investor interest, and with Google Cloud's focus on AI and cloud security in 2024, it seems Google is willing to pay a premium for the startup. Wizz to raise $1 billion in 2024, CEO considers going public In May, Wizz announced $1 billion in new venture-led funding, raising the four-year-old startup's valuation to $12 billion. Since its founding in 2020, Wiz has raised a total of $1.9 billion. In an interview with CRN earlier this year, Whiz Rapaport (pictured) said he wanted to take the company public. "We want to be a public company. That's our overall goal," Rapaport told CRN in May. "When we get to probably $1 billion in ARR, that's when we'll start thinking more seriously about an IPO." Wiz has grown rapidly throughout its four-year history by offering Cloud Security Posture Management (CSPM) services to rapidly improve cloud visibility and security. Wiz has since expanded its technology to become a broader Cloud Native Application Protection Platform (CNAPP) provider that encompasses cloud, code, data, and AI security. The bottom line: Wizz CEO Rapaport has already been preparing the startup for its next big step: an IPO in 2024. This suggests Wizz management could be ready to make a big move this year, which could mean a merger with Google. The Wiz acquisition will help Google Cloud's security to compete with Microsoft and Amazon Cloud security is a top priority for customers of all shapes and sizes, so it's no secret that the world's biggest cloud players - Google, Microsoft, and Amazon - are competing for cybersecurity market share. Wiz is currently working with Microsoft and AWS to deliver integrated products, and Wiz products will also be available in online cloud marketplaces such as AWS Marketplace. For Google, it's a challenge to Microsoft and Amazon, and a big bet on cybersecurity to complement its flagship cloud product, GCP, said Ives, the Wedbush analyst. It would give Google an edge in many cloud deployments and allow it to further monetize its cybersecurity cloud business, even though less than 50% of workloads worldwide are still not in the cloud. Ives highlighted the success of Google's cloud and AI strategy over the past year under the leadership of Google Cloud CEO Thomas Kurians. Wiz said it works with 40% of the Fortune 100 companies. Amazon Web Services currently holds the number one cloud computing market share, owning 31% of the global cloud services market as of Q1 2024. Microsoft is in second place with 25% share, followed by Google Cloud with 11% share. The bottom line: Wiz's technology and customer accounts will no doubt help Google Cloud better compete and gain more market share against major cloud and AI rivals AWS and Microsoft Azure. Transaction timeline, regulatory hurdles According to multiple reports, a deal between Google and Wiz may be finalized soon. The deal will be funded mostly with cash, according to multiple media outlets, but Google has ample cash reserves. Notably, the past few years have seen an increase in antitrust actions by government authorities in the United States and Europe against tech giants Google, AWS and Microsoft, signaling a growing aversion among regulators around the world to big tech companies building scale through acquisitions and forming monopolies. But Google's acquisition of Wizz may be a more palatable deal for regulators, said Bank of America analyst Justin Post, in a note, saying Google, which has less than 20% of the global cloud market share, has a better chance of winning in court than a consumer-focused deal. Bottom line: Google and Wiz could close a deal soon. Even as global regulators scrutinize such acquisitions more closely, Google's willingness to face scrutiny shows how important the company sees Wiz as to the future of Google Cloud and AI. What Are The Main Benefits Of Comparing Car Insurance Quotes Online

Google Eyes $23 Billion Acquisition of Cybersecurity Innovator Wiz

Google is reportedly in the final stages of talks to acquire cybersecurity startup Wiz. Citing people familiar with the matter, The Wall Street Journal reports that Google plans to pay roughly $23 billion for the startup, marking its largest acquisition to date. Wiz offers cybersecurity software for cloud computing. The Journal notes that the acquisition could potentially help boost Alphabet's cloud computing efforts, which currently lag behind its peers. Google's largest acquisition to date is its $12.5 billion acquisition of Motorola Mobility in 2012. Wiz's website currently notes that it has several high-profile clients, including Bridgewater, FOX, and Colgate-Palmolive. Wiz was founded in 2020 and raised $1 billion earlier this year at a $12 billion valuation. The startup is one of the few that has been able to raise money at a higher valuation in 2024 outside of the AI space. Wiz reported $350 million in annual recurring revenue in 2023. The company is backed by Sequoia Capital, Andreessen Horowitz, Index Ventures, and Lightspeed Venture Partners, amongst others.

Google reportedly set to make its biggest-ever acquisition with this US-Israeli company - Times of India

Alphabet, Google's parent company, is reportedly in talks to acquire cyber security start-up Wiz for about $23 billion, in what would be the largest acquisition in the company's history. According to a report in Wall Street Journal (WSJ), the discussions are still in process and could fall through, with a number of details still needing to be ironed out. Why Wiz acquisition could be a major test If through, the deal would be a major test for antitrust regulators, who have been increasingly scrutinizing acquisitions by tech giants in recent years. Alphabet's last major acquisition was the $12.5 billion purchase of Motorola Mobility over a decade ago. The acquisition of Wiz would represent a significant push into cybersecurity for Alphabet, following its $5.4 billion acquisition of Mandiant two years ago. Meet Wiz, the US-Israeli startup 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. Wiz helps companies secure their cloud programs, which has become increasingly important as businesses move their software and data storage online. The company has reportedly reached $350 million in annual recurring revenue. A deal to acquire Wiz would be one of the largest acquisitions of a venture capital-backed company ever. Wiz declined to comment on the talks, while Google did not respond to a request for comment. The talks between Alphabet and Wiz come after the technology giant recently decided not to pursue a takeover of online marketing software company HubSpot, as reported by Reuters earlier this month. The TOI Tech Desk is a dedicated team of journalists committed to delivering the latest and most relevant news from the world of technology to readers of The Times of India. TOI Tech Desk's news coverage spans a wide spectrum across gadget launches, gadget reviews, trends, in-depth analysis, exclusive reports and breaking stories that impact technology and the digital universe. Be it how-tos or the latest happenings in AI, cybersecurity, personal gadgets, platforms like WhatsApp, Instagram, Facebook and more; TOI Tech Desk brings the news with accuracy and authenticity.

Google parent in talks to buy cybersecurity startup Wiz for $23B - VnExpress International

The deal, being funded mostly in cash, could come together soon, the source added, speaking on condition of anonymity. Wiz, founded in Israel and now headquartered in New York, is one of the fastest-growing software startups globally, providing cloud-based cybersecurity solutions with 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 administration. In recent years, U.S. regulators have indicated growing aversion to large technology companies getting bigger through acquisitions. Wiz generated about $350 million in revenue in 2023 and works with 40% of Fortune 100 companies, according to its website. It recently raised $1 billion in a private funding round that valued the company at $12 billion. Alphabet and Wiz did not immediately respond to requests for comment. Wiz works with multiple cloud providers such as Microsoft and Amazon, and counts companies from Morgan Stanley to DocuSign among its customers. With 900 employees across the United States, Europe, Asia and Israel, Wiz previously said it planned to add 400 workers globally in 2024. Alphabet recently decided not to pursue a takeover of online marketing software company HubSpot. Dealmaking in the broader technology sector has experienced a pickup this year. In January, design software company Synopsys agreed to buy smaller rival Ansys for about $35 billion. Hewlett Packard Enterprise struck a deal in January to buy networking gear maker Juniper Networks for $14 billion. Technology accounted for the largest share of mergers and acquisitions during the first half of the year, jumping more than 42% year-on-year to $327.2 billion, according to data from Dealogic. The Wall Street Journal reported Alphabet's talks with Wiz earlier on Sunday.

Google parent in talks to buy cybersecurity startup Wiz for $23 billion - VnExpress International

The deal, being funded mostly in cash, could come together soon, the source added, speaking on condition of anonymity. Wiz, founded in Israel and now headquartered in New York, is one of the fastest-growing software startups globally, providing cloud-based cybersecurity solutions with 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 administration. In recent years, U.S. regulators have indicated growing aversion to large technology companies getting bigger through acquisitions. Wiz generated about $350 million in revenue in 2023 and works with 40% of Fortune 100 companies, according to its website. It recently raised $1 billion in a private funding round that valued the company at $12 billion. Alphabet and Wiz did not immediately respond to requests for comment. Wiz works with multiple cloud providers such as Microsoft and Amazon, and counts companies from Morgan Stanley to DocuSign among its customers. With 900 employees across the United States, Europe, Asia and Israel, Wiz previously said it planned to add 400 workers globally in 2024. Alphabet recently decided not to pursue a takeover of online marketing software company HubSpot. Dealmaking in the broader technology sector has experienced a pickup this year. In January, design software company Synopsys agreed to buy smaller rival Ansys for about $35 billion. Hewlett Packard Enterprise struck a deal in January to buy networking gear maker Juniper Networks for $14 billion. Technology accounted for the largest share of mergers and acquisitions during the first half of the year, jumping more than 42% year-on-year to $327.2 billion, according to data from Dealogic. The Wall Street Journal reported Alphabet's talks with Wiz earlier on Sunday.

Google's Parent Company Alphabet Eyeing $23 Billion Startup Cybersecurity Acquisition

You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Google's parent company, Alphabet, are in advanced talks to acquire Wiz, a startup cybersecurity company, in a deal that is worth $23 billion. If the deal goes through, it would be Alphabet's biggest acquisition till date, a source told Reuters. The source, on the condition of anonymity, told Reuters that the deal could potentially be funded mostly in cash and could materialise soon. The cybersecurity startup was founded in Israel and now headquartered in New York. Wiz has quickly become one of the fastest-growing software startups globally, providing cloud-based cybersecurity solutions with real-time threat detection and responses powered by artificial intelligence. If the deal goes through, it would be a significant exception to the recent trend of US regulators cracking down on big tech companies' expansion through acquisitions. Wiz, which boasts an impressive client list including 40 per cent of Fortune 100 companies, has already secured a hefty $1 billion in private funding, valuing the company at $12 billion. With a global workforce of 900 employees and plans to hire 400 more, Wiz is a force to be reckoned with in the cloud security space. While neither Alphabet nor Wiz has confirmed the deal, it's clear that the tech industry is heating up with mergers and acquisitions, as per Reuters. Alphabet recently opted out of acquiring the online marketing software company HubSpot. Cybersecurity is the need of the hour With the world turning into a global digital village, it is now, more than ever necessary to invest in cybersecurity. Multi-million dollar companies invest heavily in cybersecurity to protect their sensitive data from being disseminated. India is a booming market for cyber startups, as well as, cyber giants to sink their teeth into. The cost of cybersecurity tools varies based on their complexity and the level of protection it offers. On an average, organisations in India may spend anything between INR 50,000 to INR 5,00,000 annually on security software and tools. As cyber threats escalate, businesses recognize the critical need for expert cybersecurity talent to safeguard their operations. This heightened demand has driven up salaries, making cybersecurity a significant investment for organisations. However, many are finding cost-effective solutions by partnering with managed security service providers (MSSPs). As per Anjali K, a cyber security analyst, in India, the average annual salary for a cybersecurity professional ranges from INR 6 lakh to INR 15 lakh, while MSSP services offer a more affordable option, costing between INR 3 lakh to INR 10 lakh annually.

Alphabet in Talks to Buy Wiz in $23 Billion Cyber Deal

An acquisition of Wiz, a cloud and cybersecurity company, could help Google catch up to Microsoft and Amazon in an increasingly competitive cloud market. As more startups are moving their apps and data to the cloud, the opportunity in the sector is growing, particularly as generative AI apps and tools continue to gain traction. Such tools often require enormous data sets to be uploaded to the cloud that AI models can train on, in order for them to be able to generate output like images, marketing campaigns or software code, based on what users prompt the generative AI software with.