Confirmed: Google is buying Wiz for $32B to beef up in cloud security

Google is making the biggest acquisition in its history. The company’s parent company Alphabet is acquiring Wiz, the cloud security startup, for $32 billion in an all-cash transaction. The deal has now been confirmed. Wiz will remain an independent platform that will work across all cloud providers, not just Google Cloud Platform. There will be more hiring to expand the business, and likely more acquisitions, which is something Wiz has been working to do for the last year. Our sources tell us that Wiz is at $700 million in annual recurring revenue at the moment. The deal is being described to us as akin to the one between LinkedIn and Microsoft, in terms of autonomy within the bigger organization. (It should be noted that LinkedIn does use a lot of Microsoft services, and has increased that over time, so perhaps that’s a more meaningful analogy than was intended.) The deal will still need regulatory and other approvals before closing. Previously, Google’s biggest acquisition had bee ... Read full article.