Google parent Alphabet in talks to buy cloud security firm Wiz for $39.91 billion
Sign up now: Get ST's newsletters delivered to your inbox
The deal has not been signed and could still change, the person familiar with the development said.
PHOTO: REUTERS
Follow topic:
BENGALURU – Google’s parent Alphabet is in advanced negotiations to buy Israeli cyber-security company Wiz with an offer of more than US$30 billion (S$39.91 billion), according to a source familiar with the matter, marking its largest potential acquisition to date.
Alphabet’s latest offer is higher by roughly a third of the US$23 billion deal it offered in 2024
Wiz had said in an internal memo at the time that it would focus on an initial public offering. Neither company has publicly acknowledged a deal. They did not immediately reply on March 17 to Reuters requests for comment.
The deal has not been signed and could still change, the person familiar with the development said. The Wall Street Journal on March 17 first reported the news of the talks between the companies, citing sources.
If the Wiz acquisition goes ahead, it would help Alphabet tap the cyber-security market and expand its booming cloud infrastructure business, which generated more than US$43 billion in revenue in 2024.
While US President Donald Trump’s administration is widely expected to drop some antitrust policies pursued under the administration of former president Joe Biden, a deal that creates a cyber-security behemoth is still likely to draw scrutiny.
Wall Street had expected a bump in dealmaking after Mr Trump’s election, but the tariffs he has imposed or threatened have roiled global markets and left businesses and investors uncertain about big decisions.
Wiz provides cloud-based cyber-security solutions powered by artificial intelligence that help companies identify and remove critical risks on cloud platforms.
It works with multiple cloud providers such as Microsoft and Amazon and counts companies from Morgan Stanley to DocuSign among its customers. With 900 employees across the United States, Europe, Asia and Israel, Wiz previously said it planned to add 400 workers globally in 2024.
Interest in the cyber-security industry has surged since the global CrowdStrike outage in 2024, making enterprises more concerned about protecting their digital infrastructures.
Wiz was last valued at US$12 billion in a private funding round in May 2024. REUTERS
