Alphabet in talks to buy cyber startup Wiz for $23bn - report

15th Jul 2024 10:19

(Sharecast News) - Google parent company Alphabet is reportedly closing in on a deal to buy Israeli cybersecurity startup Wiz for $23bn, according to Dow Jones.

Citing people familiar with the matter, the two parties are in "advanced talks" regarding a takeover, and if completed the deal would represent Alphabet's largest acquisition in history following the $12.5bn purchase of Motorola Mobility in 2012 and $5.4bn takeover of Mandiant in 2022.

Wiz, founded in 2020 by Assaf Rappaport, Yinon Costica, Roy Reznik, and Ami Luttwak, is a cloud-based cybersecurity solutions firm with headquarters in New York and offices in Israel.

The company secured a valuation of $12bn in May after raising $1bn and was thought at the time to be considering a potential stock-market listing. It has raised a total of $1.9bn in fundraising since its launch.

Wiz is backed by several different groups including Sequoia, Geenoaks Capital Partners, Blackstone and Salesforce Ventures.

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