Google plans to buy Wiz for $23B. Wiz is a cloud cybersecurity startup.
This would be the largest sum of money Google invested in a business—surpassing the amount it paid for Motorola Mobility in 2012. Big brands like Oracle and Amazon are clients of Wiz.
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Based in New York City, Wiz offers solutions to assist companies in safeguarding their cloud computing infrastructure. It builds an interface layer between disparate cloud environments, enabling businesses to promptly identify and address security issues. With Microsoft having experienced several serious security problems lately, Google hopes to better compete with Wiz.
The chief of Google Cloud led the Google project. The acquisition of Wiz by Google might enhance the company’s standing as a reliable cloud security provider. Similar acquisitions by Google include the 2022 acquisition of a second cloud security startup and the $5.4 billion purchase of Mandiant, the firm that discovered the SolarWinds hack.
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Although it appears plausible, the agreement with Wiz could still fail. Additionally, there is a risk that US authorities will examine the agreement. The Department of Justice’s lawsuit against Google’s Search agreement with Apple and the Federal Trade Commission’s attempt to stop Microsoft’s acquisition of Activision are just two examples of the antitrust actions that the Biden administration has taken part in.
