Google LLC has announced its acquisition of Wiz, Inc. for $32 billion in an all-cash transaction. The acquisition aims to accelerate two major trends in the AI era: improved cloud security and the ability to use multiple clouds. Wiz is a leading cloud security platform that connects to all major clouds and code environments to prevent cybersecurity incidents. Over the last 12 months, Wiz has witnessed rapid business growth with strong adoption, delivering new categories of cybersecurity solutions.
The acquisition is expected to vastly improve the design, operation, and automation of security, providing an end-to-end security platform for customers in the AI era. It will also scale cybersecurity teams by providing them with an automated security platform and lower customers’ cost of implementing and managing security controls. Additionally, it will protect against new threats emerging due to the advancement of AI, prevent breaches, and help organizations respond to breaches more efficiently. Moreover, it will boost the adoption of multicloud security, enhancing customers’ ability to use multiple clouds, thereby spurring innovation in and the adoption of cloud computing.
Wiz’s products will continue to be available across all major clouds, including Amazon Web Services, Microsoft Azure, and Oracle Cloud platforms. The acquisition is poised to provide customers with a wide choice through a variety of partner security solutions available in the Google Cloud Marketplace.
The webcast to discuss this announcement will be hosted on Tuesday, March 18, with key personnel from Google and Wiz. The deal is subject to customary closing conditions, including regulatory approvals.
Sundar Pichai, CEO of Google, stated, “Together, Google Cloud and Wiz will turbocharge improved cloud security and the ability to use multiple clouds.” Thomas Kurian, CEO of Google Cloud, highlighted the joint vision of both companies to make cybersecurity more accessible and simpler to use for organizations of any size and industry. Assaf Rappaport, co-founder & CEO of Wiz, emphasized their commitment to continue supporting and protecting customers across all major clouds.
Wiz's customers include prominent names such as Agoda, BMW, Salesforce, and Slack. The company is backed by notable investors such as Advent, Andreessen Horowitz, Blackstone, and Sequoia.
The acquisition signifies Google's continued focus on strengthening its position in the cloud security space and providing enhanced solutions for its customers. Today the company's shares have moved -2.3% to a price of $160.47. For the full picture, make sure to review Alphabet's 8-K report.
