Alphabet Inc (NASDAQ:GOOG) has confirmed it will be acquiring Israeli cloud cybersecurity startup Wiz for $32 billion in cash, marking its largest-ever acquisition.
Wiz will become part of Google Cloud once the deal is finalized, aiming to enhance cloud security and multi-cloud capabilities.
Its products will continue to be available across major cloud platforms like Amazon Web Services, Microsoft Azure, and Oracle Cloud.
“Wiz and Google Cloud share a vision to improve security by making it easier and faster for organizations of all types and sizes to protect themselves, end-to-end, across all major clouds,” Google Cloud CEO Thomas Kurian said in a blog post.
“This will help spur the adoption of multi-cloud cybersecurity, the use of multi-cloud, and competition and growth in cloud computing.”
The companies did not provide a timeframe for when the deal is expected to close but noted it is subject to customary closing conditions, including regulatory approvals.
Shares of Alphabet Inc (NASDAQ:GOOG), Google’s parent company, traded lower on the news, down 2.8% at about $160.