Google parent firm Alphabet on March 18 reported it had acquired Israel-based cloud security startup Wiz in a $32 billion deal, according to SC Media.
The acquisition deal comes eight months after Wiz opted for an initial public offering instead of Alphabet's $23 billion takeover bid. The Wall Street Journal reported that additional investment by Alphabet was said to have allayed investors' worries regarding the potential regulatory challenges that any agreement could face.
Successfully acquiring Wiz made today's deal Google's largest purchase ever, surpassing the $12.5 billion it spent to buy Motorola Mobility in 2011, and the $5.4 billion allocated for the acquisition of Mandiant in 2022.
Shira Shamban, vice president of cloud at CYE, also pointed out that the deal bodes well overall for cloud security. "It signals a broader shift toward holistic security in the cloud and IT industries," said Shamban.
