Google announced an agreement to acquire Wiz, a cloud-based security platform developer, for a whopping $32 billion officially. The entire deal will be paid in cash once the process is completed, making Wiz a part of Google Cloud.
Wiz, a startup from Israel that provides cloud security solutions, had a recent valuation of around $16 billion. This acquisition comes after Google couldn’t reach a deal to buy the company last year due to concerns about tying up business. The reported value that Google proposed to acquire the business last year was about $23 billion, indicating Google’s return to negotiations with an almost 40% increased value.
Google states that this deal is a significant investment for Google Cloud in two necessary aspects in the AI era: enhancing cloud security and improving multi-cloud usability, making security even more crucial.
Assaf Rappaport, CEO and founder of Wiz, mentioned that becoming part of Google Cloud will allow the company to develop solutions much faster. While the security services will continue to support multi-cloud, Wiz remains a partner with other cloud providers like Azure, AWS, and Oracle Cloud. Moreover, Google Cloud Marketplace will not limit security solutions to just Wiz but offer other services as well.
This deal marks Google’s highest-valued acquisition, surpassing the previous record of $12.5 billion for Motorola Mobility in 2011.
TLDR: Google acquired Wiz, a cloud security platform developer, for $32 billion, making it the most valuable acquisition in Google’s history, highlighting the importance of cloud security and multi-cloud capabilities in the AI era.
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