Google's acquisition of Wiz for $32 billion is a landmark deal that represents the largest acquisition in Google's history and the largest exit in Israeli history. Founded in early 2020, Wiz rose quickly in valuation due to the increased demand for cloud security during the pandemic. Wiz has become a key player in identifying vulnerabilities within major cloud platforms. Despite initial rejections of a $23 billion offer from Google, Wiz decided the benefits of joining Google Cloud outweighed the risks of an IPO, having reached a valuation of $12 billion by mid-2023.
It's the biggest exit in Israeli history.
Wiz's founders planned to pursue an IPO after turning down a $23 billion offer.
The deal will be the largest acquisition in Google's history, at $32 billion.
Wiz's rapid growth is attributed to increased demand for cloud security amid the pandemic.
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