Google is in advanced talks to accumulate cybersecurity firm Wiz for $23 billion, the Wall Street Journal reported Sunday, citing people aware of the matter.
People aware of the matter told the Journal that a deal may very well be reached soon.
Founded in 2020, Wiz has grown rapidly under CEO Assaf Rappaport. The company was eyeing an IPO as recently as May when it reached a $12 billion valuation.
A representative for Wiz declined to comment.
Wiz's cloud security offering gives executives and cybersecurity professionals visibility into the corporate's entire cloud footprint, which is of interest to large enterprises with significant computing resources. It is backed by plenty of blue-chip corporations, including Israeli VC firm Cyberstarts, Index Ventures, Insight Partners and Sequoia Capital.
If the deal goes through, it could be the biggest acquisition Google has ever made. It would also represent a transparent and ongoing commitment to cybersecurity at a time when nation states and criminal actors have succeeded in disrupting governments and huge organizations. Google has made major cyber acquisitions before: The company acquired cybersecurity firm Mandiant for $5.4 billion two years ago.
But now the corporate is facing unprecedented antitrust scrutiny. The Justice Department has sued Google twice on antitrust grounds, and the corporate's acquisition practices were highlighted in essentially the most recent lawsuit, filed in 2023.
But the alleged talks with Wiz suggest the corporate has regained its appetite for mergers and acquisitions despite competition concerns. As CNBC previously reported, Google had been in talks to accumulate sales software maker Hubspot, but the trouble has reportedly cooled.
Google didn’t immediately reply to a request for comment.
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