deal has been finalized as part of Alphabet’s goal to make Wiz part of the Google Cloud division.
It’s important to mention that this is Alphabet’s second attempt to buy the cloud security Wiz because last year the company tried to purchase it at a much lower valuation of about $23 billion.
Working with other big companies such as Amazon and Microsoft, Wiz Cybersecurity is a startup that started with the goal of providing cybersecurity solutions. In May last year, cybersecurity Wiz received a valuation of about $12 billion, which managed to grow up to $16 billion later in the year.
“We expect this change to enable us to execute and innovate even faster. Becoming part of Google Cloud is effectively strapping a rocket to our backs: it will accelerate our rate of innovation faster than what we could achieve as a standalone company.”, the Wiz cybersecurity CEO stated in a recent blog post.
According to various reports, the deal that was supposed to be closed last year did not end as expected due to the fact that the board of directors and investors from Wix had concerns over Google’s antitrust requirements. As expected, this new deal will experience various examinations, but both Alphabet and Wix cybersecurity companies are hoping that the administration that is currently operating in the U.S. along with Andrew Fergurson, the new FTC chair will consider this deal profitable for both sides.
In order to avoid any potential antitrust concerns, Google stated that all the cloud security Wiz products will remain available for the competitor cloud platforms such as Microsoft Azure, Amazon Web Services, or Oracle Cloud.
Even more so, the cloud security Wiz services will not be the only services available in the Google Marketplace, because the company promises that other security facilities will be available directly in this Marketplace.
The Wiz acquisition represents the biggest one that happened in recent years as in 2022 Google acquired other two cybersecurity firms called Siemplify and Mandiant. The two deals were closed with $500 million for Siemplify and about $5.4 billion for the Mandiant cybersecurity firm.
We can observe that Alphabet, Google’s parent company is working hard to boost Google’s cybersecurity services in order to surpass its competitor, Microsoft, which is known for not having the most perfect facilities for cloud security.
Stay tuned for more updates!
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