Google to acquire cloud security startup Wiz for $32 billion after deal fell apart last year

The Wiz website on a smartphone arranged in New York, US, on Tuesday, July 16, 2024. Google on Tuesday signed a "definitive agreement" to acquire Wiz, a New York-based cloud security startup, for $32 billion in an all-cash deal. The deal, Google's largest ever, will bolster the company's security technology in a world of advancing artificial intelligence and cybersecurity threats. Wiz will become a part of the company's cloud business, and Google said it expects the deal to close in 2026. "Google Cloud is a leader in cloud infrastructure, with deep AI expertise and a track record of industry-leading security innovation," Google said in a release. "Bringing all this to Wiz will help make their solutions even better and more scalable, benefiting customers and partners across all major clouds." Last year, Wiz walked away from a potential $23 billion acquisition by Google and told employees that it would pursue an IPO instead. However, the IPO market has yet to open in a significant wa ... Read full article.