Google-Wiz deal is 'litmus test' for Trump administration's handling of Big Tech

In this article GOOGL Follow your favorite stocks CREATE FREE ACCOUNT The Wiz logo on a smartphone arranged in New York, US, on Tuesday, July 16, 2024. Gabby Jones | Bloomberg | Getty Images Seven months ago, Alphabet lost a marquee case against the Biden administration's Justice Department, which accused the company of maintaining an illegal monopoly in search. Weeks earlier, Google's pursuit of cybersecurity vendor Wiz, in what would have been its largest deal ever, fizzled in part because of antitrust concerns. With Donald Trump's return to the White House, Alphabet is back on the offensive. Alphabet on Tuesday agreed to buy Wiz for $32 billion in cash, almost $10 billion more than the proposed price in mid-2024, and said it expects the deal to close next year, subject to regulatory approvals. Wiz will sit in Google's cloud division, which is far from the company's dominant search business. Google is behind Amazon and Microsoft in cloud infrastructure, a standing that would make t ... Read full article.