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New Delhi. The world’s largest tech company Google may soon buy cyber security firm Wiz. According to information, this deal can be signed for $23 billion. The Wall Street Journal reported on Sunday, citing people familiar with the matter, that this deal could be completed soon.
Wiz was founded in 2020 and has grown rapidly under the leadership of CEO Asaf Rappaport. In May itself, the company started considering an IPO. This cybersecurity company has achieved a valuation of $12 billion.
Google’s biggest bet
Wiz’s cloud security offering gives cybersecurity professionals exposure to the company’s full cloud presence, which is attractive to large firms with significant computing resources. It is backed by a list of blue chip firms, including Israeli VC firm CyberStarts, Index Ventures, Insight Partners, and Sequoia Capital.
If this deal is completed, it will be Google’s biggest acquisition till date. At a time when many countries and companies around the world are facing cyber attacks, this acquisition by Google will be a big step towards cyber security. Google has made big cyber acquisitions in the past as well. The company acquired cyber security firm Mandiant for $5.4 billion two years ago.
But the company now faces an unprecedented level of antitrust scrutiny. The Justice Department has sued Google twice on antitrust grounds. The company’s acquisition practices were highlighted in the most recent lawsuit filed in 2023.
Tag: Google, tech news hindi
first published : July 15, 2024, 10:07 IST
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