In mid-last year, news emerged that Alphabet, the parent company of Google, had negotiated to acquire the cybersecurity company Wiz for a whopping $23 billion. However, the deal was ultimately called off due to concerns raised during the regulatory scrutiny about business ties.
Recently, The Wall Street Journal reported that Alphabet has re-engaged in talks to buy Wiz, this time with a higher offer of $30 billion. The deal is expected to be finalized soon, with insiders believing that the current situation might lead to less regulatory scrutiny this time around.
Google sees the acquisition of Wiz as a way to enhance the security aspect of its cloud services, making its cloud offerings standout in terms of security. If this deal goes through, it will mark the largest acquisition in Google’s history, surpassing the previous record of acquiring Motorola Mobility for $12.5 billion.
Source: The Wall Street Journal
TLDR: Alphabet, Google’s parent company, initially tried to purchase cybersecurity company Wiz for $23 billion but canceled the deal. Now, they are back in talks with a higher offer of $30 billion, aiming to strengthen their cloud security services. If successful, this would be Google’s largest acquisition to date.
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