New Delhi: Google’s parent company, Alphabet, is reportedly close to buying the cloud security company Wiz for around $23 billion, which could be Alphabet’s biggest purchase ever. The Wall Street Journal says that while the deal isn’t final yet, it might happen soon. Wiz offers a complete cloud security service, checking data from Amazon Web Services, Microsoft Azure, Google Cloud, and other platforms for security risks.
Wiz’s investors include well-known firms like Andreessen Horowitz, Lightspeed Venture Partners, Thrive, Greylock, Wellington Management, Cyberstarts, Greenoaks, Howard Schultz, Index Ventures, Salesforce Ventures, and Sequoia Capital.
General partner of Andreessen Horowitz
This news comes just two months after Wiz announced raising $1 billion in a Series E funding round, valuing the company at $12 billion. Founded four years ago by former Microsoft employees Assaf Rappaport, Ami Luttwak, Yinon Costica, and Roy Reznik, Wiz has raised a total of $1.9 billion so far. At the time of its recent funding, Wiz reported $350 million in yearly recurring revenue and seemed ready to buy smaller security startups and possibly go public. However, joining Alphabet could change its path.
Alphabet likely sees this deal as a way to boost Google’s cloud business, which grew 28% to $9.57 billion in the first quarter of this year. Both Google and Wiz have not yet commented on this report.
