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Reuters
Tue, Mar 18, 2025, 4:41 AM 2 min read
In This Article:
(Reuters) - Alphabet (GOOG, GOOGL) has agreed to buy cybersecurity startup Wiz for at least $32 billion, the Financial Times reported on Tuesday, citing people familiar with the matter.
The deal will be announced on Tuesday morning, the report said.
News of advanced negotiations between the Google parent and the Israeli startup emerged overnight, with sources saying Alphabet had offered more than $30 billion to mark its largest potential acquisition to date.
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The agreement price is at least one-third higher than the $23 billion deal Alphabet put forward last year. Wiz called off those talks in July 2024 over concerns it would not clear antitrust hurdles. The security startup said in an internal memo at the time that it would focus on an initial public offering.
The acquisition promises to help Alphabet tap the cybersecurity market and expand its booming cloud infrastructure business, which generated more than $43 billion in revenue last year.
While US President Donald Trump's administration is widely expected to drop some antitrust policies pursued under the administration of President Joe Biden, a deal that creates a cybersecurity behemoth is still likely to draw scrutiny.
Wall Street had expected a bump in dealmaking after Trump's election, but the tariffs he has imposed or threatened have roiled global markets and left businesses and investors uncertain about big decisions.
Wiz provides cloud-based cybersecurity solutions powered by artificial intelligence that help companies identify and remove critical risks on cloud platforms.
It works with multiple cloud providers such as Microsoft (MSFT) and Amazon (AMZN) and counts companies from Morgan Stanley (MS) to DocuSign (DOCU) among its customers. With 900 employees across the United States, Europe, Asia and Israel, Wiz previously said it planned to add 400 workers globally in 2024.
Interest in the cybersecurity industry has surged since the global CrowdStrike outage last year, making enterprises more concerned about protecting their digital infrastructures.
Wiz was last valued at $12 billion in a private funding round in May 2024.
(Reporting by Deborah Sophia in Bengaluru; Editing by Anil D'Silva)
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