Google’s parent company, Alphabet is preparing to close a historic deal to acquire Israeli startup Wiz for $23 billion.
This deal is historic on several levels. It is Google’s largest acquisition and the largest in Israel’s history.
Google is buying cybersecurity firm Wiz at a time when search engines are facing significant antitrust scrutiny.
The search engine giant is hoping that Wiz will increase its presence on the cloud, where it is perceived as somewhat lagging behind the competition.
Wiz deals with cybersecurity in the cloud and raised $1 billion on a valuation of $12 billion in 2024, a rare strong performance given the general slump in the startup sector.
