Google : Letest Update, Google is close to making its biggest acquisition ever

Google is close to making its biggest acquisition ever

The potential agreement details have yet to be settled, and discussions could still fall apart, according to a source.

The Wall Street Journal first announced the talks between Google and Wiz.

Neither Wiz nor Google responded to CNN's requests for comment.

The proposed deal would likely be larger than Google's acquisition of Motorola for $12.5 billion around a decade ago, which was the largest corporate takeover in history. Google sold Motorola just two years later at a significant loss.

A deal valued at $23 billion for Wiz is almost twice as much as the $12 billion valuation the startup received in its most recent funding round.

In March 2022, Alphabet acquired cybersecurity firm Mandiant for $5.4 billion as part of its strategy to help businesses better combat cyber threats and strengthen its cloud computing division.

Google Cloud plays a key role in the company's strategy to expand its revenue streams beyond its primary search advertising business. Although its cloud services have seen growth, it has faced competition from similar offerings from Microsoft and Amazon.

Acquiring Wiz would be a bold move against Microsoft and Amazon, demonstrating Google's commitment to the cybersecurity sector as a complement to its main cloud offering, according to Dan Ives, managing director and senior equity research analyst at Wedbush, in a note to clients on Monday.

In recent years, cloud security has become increasingly important as companies have invested heavily in moving their data to cloud platforms. Last week, AT&T disclosed that almost all of its wireless customers' call and text records were exposed in a large-scale breach due to an unauthorized download on a third-party cloud service.

The discussions between Google and Wiz are taking place despite the intense antitrust scrutiny from the Biden administration of major tech companies.

However, this antitrust scrutiny could ease somewhat if President Trump were to return to the White House, Ives noted, making the Federal Trade Commission "significantly weaker" and leading to a more rapid pace of mergers and acquisitions among Big Tech companies.

Should the deal be finalized and completed, it would represent a significant exit for Wiz and its founders — Assaf Rappaport, Ami Luttwak, Yinon Costica, and Roy Reznik. The four executives first came together years ago while serving in Unit 8200, the cyber intelligence division of the Israel Defense Forces.

Since its launch in March 2020 during the Covid-19 pandemic, Wiz has seen explosive growth. Today, the company boasts that 40% of Fortune 100 companies are its clients.

Notable clients include BMW, Slack, and Salesforce, and it collaborates with major cloud providers such as Amazon, Microsoft, and Google.

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