Betabet, the company that owns Google, may be about to make its biggest purchase ever.
The Wall Street Journal says Alphabet is close to agreeing to pay about $23 billion to buy Wiz. The WSJ says the deal might go through soon, but it’s not official yet. Wiz is an all-in-one cloud security solution that takes in data from Amazon Web Services, Microsoft Azure, Google Cloud, and other cloud systems and checks it all for security holes.
Alphabet officials probably see the deal as a way to strengthen Google’s cloud business, which grew 28% in the first quarter of this year to $9.57 billion.
Asked Google and Wiz for comments, but neither company replied right away.
This story comes just two months after Wiz said it was raising $1 billion in Series E funding at a value of $12 billion. Wiz was started by Assaf Rappaport, Ami Luttwak, Yinon Costica, and Roy Reznik, who used to work at Microsoft. It has raised a total of $1.9 billion.
At the time of its most recent funding round, the business said it made $350 million a year in constant income. It looked like it was on track to buy up smaller security companies and then go public, but now that it’s part of Alphabet, it may take a different road.
Also Read: Google Buys Cameyo So That Windows Apps Can Be Used on Chromeos
Andreessen Horowitz, Lightspeed Venture Partners, Thrive, Greylock, Wellington Management, Cyberstarts, Greenoaks, Howard Schultz, Index Ventures, Salesforce Ventures, and Sequoia Capital are some of the partners in the company.
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