A historic deal: Alphabet is in talks to acquire cybersecurity startup Wiz for $23 billion
Alphabet, Google’s parent company, is in talks to acquire cybersecurity startup Wiz for about $23 billion. Reuters reports this with reference to informed sources.
The deal is expected to be finalized in the near future. If this happens, it will be the largest acquisition of the tech giant in its history.
Wiz was founded in Israel and is headquartered in New York. It is one of the fastest growing software startups in the world, providing cloud-based cybersecurity solutions with real-time threat detection and response using artificial intelligence.
According to Wiz, the company generated about $350 million in revenue in 2023 and works with 40% of Fortune 100 companies. It recently raised $1 billion in a private funding round that valued the company at $12 billion.
With 900 employees in the United States, Europe, Asia, and Israel, Wiz previously said it plans to add 400 employees worldwide in 2024.