Alphabet, Google's parent company, is in advanced discussions to acquire cloud cybersecurity startup Wiz, with discussions now focusing on a $30 billion valuation. Previous talks faltered primarily due to disagreements on Wiz's operational structure within Google Cloud and regulatory scrutiny. Despite failing to secure a deal last summer when the valuation was pegged at $23 billion, the renewed interest is fueled by Wiz’s impressive annual recurring revenue of $500 million and its projected growth. The hiring of a CFO by Wiz hints at potential plans for an IPO, although they’ve stated no immediate intentions for a public offering.
Google Cloud sees Wiz's cloud security products as a good fit for its customer base, particularly with Wiz's annual recurring revenue forecasted to reach $1 billion in 2025.
This time, the price being discussed is higher, around $30 billion, compared to Wiz's previous valuation of $12 billion and $16 billion in later tender offers.
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