Google plans to acquire cybersecurity company ‘Wiz’ for USD23B
Date
7/17/2024 3:18:45 AM
(MENAFN) Google is planning to acquire the cybersecurity company "Wiz" for a staggering $23 billion, according to a US news agency. Sources familiar with the matter suggest that the deal could be finalized soon, provided there are no major obstacles during negotiations. If successful, this Acquisition would mark the largest in Google’s history, highlighting the tech giant's commitment to enhancing its cybersecurity capabilities.
"Wiz," valued at $12 billion, is one of the few startups outside the artificial intelligence sector that managed to attract high funding in 2024. This achievement underscores the growing importance of cybersecurity in today's digital landscape. Wiz operates in this critical field and has garnered significant attention and investments, reflecting the increasing need for robust security measures to protect data and digital infrastructure.
Google's intensive efforts in cybersecurity demonstrate its strategic commitment to improving cloud computing services. The potential acquisition of Wiz aligns with Google's broader initiative to enhance its cybersecurity offerings. This focus is also evident from Google’s previous major acquisition in the cybersecurity sector: the purchase of "Mandiant" for $5.4 billion two years ago. This deal was not only significant in the cybersecurity domain but also marked Google’s second-largest acquisition ever.
The acquisition of Wiz would strengthen Google’s position in the cybersecurity market, enabling it to provide more comprehensive and secure cloud computing solutions. As demand for these services continues to grow, especially in an era characterized by increasing cyber threats and data breaches, enhancing its cybersecurity capabilities has become a strategic priority for Google. This move would allow Google to better protect its users and customers, ensuring more resilient and secure digital environments across its platforms.
MENAFN17072024000045015839ID1108448417
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.