Google nears $23B deal for cybersecurity startup Wiz: report

The move comes as Alphabet and other tech firms are under immense antitrust scrutiny. An acquisition could also help the search giant’s efforts in cloud computing, a important growth driver for the business.Launched by Chief Executive Assaf Rappaport and a handful of colleagues in 2020, Wiz has seen its valuation balloon in recent years. Wiz, which offers cybersecurity software for cloud computing, raised $1 billion earlier this year, giving it a $12 billion valuation at the time.

Wiz reached $100 million in annual recurring revenue after 18 months, and achieved $350 million in annual recurring revenue in 2023, The Journal said. The cybersecurity firm is backed by prominent Silicon Valley venture capitalists including Sequoia Capital, Andreessen Horowitz, Index Ventures, and Lightspeed Venture Partners.

Wiz, which is headquartered in New York with additional offices in the US and Israel, partners with a number of the biggest cloud companies, including Google, Amazon and Microsoft.Google has been a rather conservative acquirer ahead of the Wiz transaction, which would be one of the largest tech deals of late.

Technology Technology Latest News, Technology Technology Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Google near deal to acquire cybersecurity startup Wiz for $23 billionGoogle near deal to acquire cybersecurity startup Wiz for $23 billion - WSJ
Source: Investingcom - 🏆 450. / 53 Read more »

Google near deal to acquire cybersecurity startup Wiz for $23 billionGoogle near deal to acquire cybersecurity startup Wiz for $23 billion - WSJ
Source: Investingcom - 🏆 450. / 53 Read more »

Google parent close to $23 billion deal to buy cybersecurity startup Wiz, WSJ reportsGoogle parent close to $23 billion deal to buy cybersecurity startup Wiz, WSJ reports
Source: Investingcom - 🏆 450. / 53 Read more »

Google announces early Pixel hardware 'Made by Google' event for August 13Johanna 'Jojo the Techie' is a skilled mobile technology expert with over 15 years of hands-on experience, specializing in the Google ecosystem and Pixel devices. Known for her user-friendly approach, she leverages her vast tech support background to provide accessible and insightful coverage on latest technology trends.
Source: PhoneArena - 🏆 322. / 59 Read more »

Google's June Pixel Feature Drop now reaching T-Mobile and Google Fi usersJohanna 'Jojo the Techie' is a skilled mobile technology expert with over 15 years of hands-on experience, specializing in the Google ecosystem and Pixel devices. Known for her user-friendly approach, she leverages her vast tech support background to provide accessible and insightful coverage on latest technology trends.
Source: PhoneArena - 🏆 322. / 59 Read more »