Alphabet's Bold Move: The $32 Billion Acquisition of Wiz

Alphabet, Google's parent company, plans to acquire cybersecurity startup Wiz for over $32 billion, enhancing its cloud services with AI-driven solutions. This move aims to boost competition against Amazon and Microsoft. The acquisition marks Alphabet's largest purchase, revisiting a previously stalled deal due to antitrust concerns.

Google-parent Alphabet has taken a significant step by agreeing to acquire the cybersecurity startup Wiz for a staggering sum of at least $32 billion, revealed by the Financial Times on Tuesday. Sources close to the transaction suggested the move is aimed at enhancing Google's cloud service offerings.

The acquisition of Wiz, known for its advanced AI-powered cybersecurity solutions, will empower Google to address critical risks businesses face. This strategic buy positions Alphabet to better compete with cloud service giants like Amazon and Microsoft. Notably, this would be Alphabet's largest acquisition, far surpassing the prior $23 billion value discussed a year ago.

Initially, Wiz called off negotiations over antitrust concerns, opting instead to pursue a public offering. However, with hurdles presumably cleared, the deal is set for announcement on Tuesday morning. While both Google and Wiz did not immediately respond to requests for comment, industry observers are closely watching the developments.

(With inputs from agencies.)