Alphabet Inc., the parent company of Google, has announced its acquisition of cybersecurity firm Wiz Inc. for $32 billion. This marks the largest acquisition for Alphabet to date and will allow Google Cloud to enhance its security offerings as it competes with larger rivals like Microsoft and Amazon. Last year, Wiz rejected a lower $23 billion offer from Google due to its desire for independence and a potential IPO. The deal is subject to regulatory approvals and is expected to close next year, amid ongoing market challenges.
"Acquiring Wiz presents an opportunity for Google Cloud to enhance its cybersecurity capabilities, especially as it seeks to compete more aggressively with leading rivals in this essential market."
"Despite regulatory challenges and the initial independence stance from Wiz, Google has shown confidence in securing a deal that promises to bolster its service offerings."
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