Google’s parent company, Alphabet, is making headlines with its largest-ever acquisition: New York-based startup Wiz, which focuses on cybersecurity. This deal marks a significant moment for Google Cloud, as it follows a previous attempt to purchase Wiz that fell through when the valuation was $23 billion.
Wiz is a rapidly growing startup, founded in Israel, and it has already partnered with major companies like Microsoft and Amazon to enhance cloud security. Just this past May, Wiz was valued at $12 billion, and that number jumped to $16 billion in an employee equity offering later in the year. The company has even been gearing up for an initial public offering (IPO), making this acquisition even more strategic for Google if it gets the green light from regulators.
"Wiz helps us innovate faster," said Assaf Rappaport, Wiz’s co-founder and CEO. He believes joining Google Cloud will significantly speed up their growth journey. What’s important to note is that Wiz plans to maintain its products across various competitor platforms like Amazon Web Services and Microsoft Azure. Rappaport emphasizes that they want to stay a multicloud platform, ensuring wider access to their services.
This acquisition comes at a time when Google is facing scrutiny over antitrust issues. The company is involved in two major lawsuits — one concerning its search engine and another about its advertising practices. In fact, Google recently lost the first case but is currently appealing the ruling.
Interestingly, this move is not isolated. Google has been actively acquiring cybersecurity firms to strengthen its position in cloud security. In 2022 alone, they bought Siemplify and Mandiant for a combined total of $5.9 billion. Mandiant is well-known for its role in uncovering the SolarWinds hack, highlighting Google’s commitment to bolstering security for its cloud customers.
These strategic steps underscore Google’s efforts to stay competitive, especially with Microsoft facing criticisms regarding its cybersecurity measures. As businesses increasingly migrate to the cloud, security remains a top priority. In fact, a recent survey showed that 70% of organizations consider cloud security their biggest concern when adopting new technologies.
In conclusion, Google’s acquisition of Wiz signals a bold move to enhance its cybersecurity portfolio and compete more effectively in the cloud space. With the right regulatory approval, this partnership could reshape the landscape of cloud security services.
For more on Google’s latest acquisition and its implications, check out this report by the Wall Street Journal.
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