Alphabet, the parent company of Google, has agreed to acquire cybersecurity startup Wiz for $32 billion in an all-cash transaction.
This acquisition will enhance Alphabet's position in the cloud computing sector, currently dominated by Amazon and Microsoft. Once the deal is completed, Wiz will become part of Google Cloud.
“Today, businesses and governments that run in the cloud are looking for even stronger security solutions, and greater choice in cloud computing providers,” Google CEO Sundar Pichai stated on Tuesday. He added that the combination of Google Cloud and Wiz will “turbocharge improved cloud security and the ability to use multiple clouds” together.
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Wiz, a cybersecurity company founded four years ago and based in New York, creates security tools designed to protect data stored in remote data centers from cyber threats.
Google has been interested in Wiz for a while. The purchase price announced on Tuesday exceeds a previously rejected offer of $23 billion made by Google last July.