Google parent Alphabet is in advanced talks to acquire cybersecurity startup Wiz for roughly $23 billion, an insider said on Sunday, this deal would represent the technology giant’s biggest acquisition ever.<\/p>\n
The deal, being funded mostly in cash, could come together soon, the source added, speaking on condition of anonymity. Wiz, founded in Israel and now headquartered in New York, is one of the fastest-growing software startups globally, providing cloud-based cybersecurity solutions with real-time threat detection and responses powered by artificial intelligence.<\/p>\n
If Alphabet moves ahead with the deal, it would be a rare example of a major technology company attempting a mega-deal amid heightened regulatory scrutiny of the sector under U.S. President Jeo Biden\u2019s administration. In recent years, U.S. regulators have indicated growing aversion to large technology companies getting bigger through acquisitions.<\/p>\n
Wiz generated about $350 million in revenue in 2023 and works with 40% of Fortune 100 companies, according to its website. It recently raised $1billion in a private funding round that valued the company at $12 billion.<\/p>\n
Alphabet and Wiz did not immediately respond to requests for comment.<\/p>\n
Wiz works with multiple cloud providers such as Microsoft, Amazon and counts companies from Morgan Stanley to DocuSign 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.<\/p>\n
Alphabet recently decided not to pursue a takeover of online marketing software company HubSpot<\/p>\n
In January, design software company Synopsys\u00a0to buy\u00a0smaller rival Ansys for about $35 billion. Hewlett Packard Enterprise\u00a0struck a deal in January to\u00a0buy networking gear maker Juniper Networks\u00a0for $14 billion.<\/p>\n
Technology accounted for the largest share of mergers and acquisitions during the first half of the year, jumping more than 42% year-on-year to $327.2 billion, according to data from Dealogic.<\/p>\n","protected":false},"excerpt":{"rendered":"
Google parent Alphabet is in advanced talks to acquire cybersecurity startup Wiz for roughly $23 billion, an insider said on Sunday, this deal would represent the technology giant’s biggest acquisition ever. The deal, being funded mostly in cash, could come together soon, the source added, speaking on condition of anonymity. Wiz, founded in Israel and […]<\/p>\n","protected":false},"author":27,"featured_media":38852,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173,180,249],"tags":[],"class_list":["post-38847","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-technology","category-world-news"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/38847","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/27"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=38847"}],"version-history":[{"count":1,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/38847\/revisions"}],"predecessor-version":[{"id":38853,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/38847\/revisions\/38853"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/38852"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=38847"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=38847"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=38847"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}