Alphabet is finishing plans to buy Israeli cybersecurity startup Wiz for $23 billion. If the deal gets realized, it would be the company’s largest acquisition.
Wiz, established in Tel Aviv and now based in New York, provides cybersecurity products including AI-powered threat detection and responses to some of the biggest corporations including Microsoft, Amazon, Morgan Stanley, and Shell. Alphabet would mostly pay cash and a deal could come together soon, according to a source.
Wiz has raised $2 billion in funding and is valued at around $12 billion. Earlier this year, the startup acquired cloud detection and response specialist Gem Security for $350 million. Alphabet has stepped up its cybersecurity portfolio in recent years, spending $5.4 billion to acquire specialist Mandiant in 2022.
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