Wiz, based in 2020 by Assaf Rapaport, has shortly established itself as a pacesetter in cloud safety. The New York-based agency presents a platform that helps companies determine and deal with safety threats in cloud environments in actual time. In early 2024, Wiz efficiently closed $1 billion in funding, valuing the corporate at $12 billion.
For Alphabet, this acquisition would imply a major strengthening of its safety competences and additional safety of cloud providers. At a time when cyber assaults have gotten extra frequent and complex, it’s important for companies to implement strong safety measures.
An funding in Wiz may additionally assist Alphabet achieve new shares within the cloud providers market, the place it presently ranks third behind Amazon and Microsoft. That is regardless of Google’s cloud income rising 26% in 2023 and the division reporting an working revenue for the primary time.
It’s anticipated that an official announcement of the acquisition may come within the coming weeks. If the deal goes by, it will be a uncommon instance of a mega-acquisition within the expertise sector at a time of elevated regulatory oversight below President Biden’s administration.
Supply: Reuters, NOW, CNBC, WSJ