Google has confirmed its acquisition of cloud security firm Wiz for $32 billion, a move that significantly exceeds its past largest buyout. The deal aims to capitalize on increasing demand for cloud security and multi-cloud capabilities, which are crucial in the AI era. After previous negotiations for a $23 billion agreement collapsed, the all-cash acquisition will see Wiz integrated into Google Cloud. Founded in 2020, Wiz has grown rapidly, boasting a diverse clientele that includes nearly half of the Fortune 100 companies.
Google's acquisition of Wiz for $32 billion marks its largest deal, aimed at enhancing capabilities in cloud security and multi-cloud services.
This acquisition represents a bold investment for Google, signaling a strategic pivot towards expanding its cloud security offerings amid growing competition.
Wiz has shown remarkable growth since its inception in 2020, leveraging the increased demand for remote operations, with a significant customer base that includes key Fortune 100 firms.
Assaf Rappaport, co-founder of Wiz, had previously indicated ambitions for the firm to stand independently against major players like Crowdstrike, which adds depth to the acquisition's implications.
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