Google is close to acquiring cybersecurity startup Wiz for $23 billion, marking their largest acquisition yet.

From Investing.com: 2024-07-14 15:32:05

Alphabet Inc, Google’s parent company, is close to acquiring cybersecurity startup Wiz for around $23 billion, making it their largest acquisition yet. This follows Alphabet’s decision to not pursue HubSpot due to antitrust concerns despite HubSpot’s $24 billion market cap. Wiz saw its annual revenue grow from $100 million in 2020 to $350 million in 2023 under CEO Assaf Rappaport, and had a $12 billion valuation earlier this year. The potential deal would be nearly double Google’s previous largest acquisition of Motorola Mobility for $12.5 billion in 2012, with Wiz being backed by venture capitalists who see potential in the cybersecurity firm’s growth.



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