Google’s parent company, Alphabet Inc (NASDAQ:GOOG), is reportedly in advanced talks to acquire cybersecurity startup Wiz for around $30 billion, which would make it the tech giant’s biggest deal yet.
The Wall Street Journal reports that a $23 billion agreement was nearly reached last year, but Wiz pulled out to focus on a potential stock market listing. The deal is not yet final and could still change.
Wiz, based in New York with offices in the US and Israel, provides AI-powered cloud security solutions and works with major cloud providers, including Amazon, Microsoft, and Google.
The acquisition would strengthen Alphabet’s position in cybersecurity and enhance its cloud infrastructure business, which generated over $43 billion last year.
A buyout of this scale is expected to attract regulatory scrutiny, given concerns over tech giants consolidating power. Cybersecurity has become a hot sector following high-profile cyberattacks, with Wiz last valued at $12 billion in May last year.