Google is about to make its biggest acquisition ever

Talks between Google and Wiz began after the startup raised $1 billion from venture capitalists earlier this year, according to the people, but terms have yet to be finalized and talks could still fall through.

The acquisition of Wiz, which develops cybersecurity software for cloud computing, would be Google's biggest bet on cybersecurity, marking the tech giant's biggest acquisition ever.

Photo: Plexi

If successful, the deal would easily surpass Google’s $12.5 billion purchase of Motorola about a decade ago, the largest acquisition in the company’s history. Google sold Motorola just two years later at a huge loss.

Wiz's $23 billion valuation is nearly double the startup's $12 billion valuation in its most recent funding round.

In March 2022, Alphabet bought cybersecurity company Mandiant for $5.4 billion as part of an effort to help companies better address cyber threats and strengthen its cloud computing business.

Google Cloud is central to the company’s efforts to diversify revenue beyond its core search advertising business. While Google’s cloud sales have grown, the company has struggled to compete with similar services from Microsoft and Amazon.

Dan Ives, managing director at financial advisory firm Wedbush, said buying Wiz would be a “big blow” to Microsoft and Amazon, showing Google is “making a big bet on cybersecurity to complement its core cloud offering”.

Cloud security has become especially important in recent years as companies spend huge sums of money moving data to cloud platforms. Just last week, telecommunications company AT&T revealed that nearly all of its wireless customers’ call and text message records had been exposed in a massive breach that was “illegally downloaded” from a third-party cloud platform.

Since its founding in March 2020 amid the COVID-19 pandemic, New York City-based Wiz has seen explosive growth. Today, the company says 40% of Fortune 100 companies are customers.

Notable clients include BMW, Slack, and Salesforce. The company also partners with major cloud computing companies including Amazon, Microsoft, and Google.

Ngoc Anh (according to CNN)

Source: https://www.congluan.vn/google-sap-thuc-hien-thuong-vu-thau-tom-lon-nhat-trong-lich-su-cong-ty-post303609.html