Google makes the greatest acquisition in its history. Alphabet’s parent company gets WIZ, the Cloud Security startup, for $ 32 billion, our sources say.
The agreement will still need regulatory and other approvals before closing. From what we can see, Google and Wiz still need to confirm anything official. Other outlets also report that the deal is made. Earlier, Google’s biggest acquisition bought Motorola mobility for $ 12.5 billion in 2011.
The agreement was again off-almost part of a year and appeared to Revive again this -week at a price of $ 30 billion. Thomas Kurian-the general manager of Google Cloud is in Europe at the moment, and Assaf Rappaort, the Director General of New York Wiz, is currently in Israel. According to what we understand, Kurian led this deal, and Wiz would come under his wing leading a major push to cloud security for the company.
Last year, Google offered to buy Wiz for $ 23 billionBut the talks collapsed, sources say about concerns about anti -trustee, Wiz’s autonomy for development under Google Cloud and maybe even the price tag. At the time of the agreement talks, WIZ was estimated at $ 12 billion on the basis of $ 1 billion financial round earlier in the year.
In the meantime there is now a new US president and Some believe The new regulatory regime will appear in a more favorable climate for large technological acquisitions that may have been ignited previously.
For its part, Google was interested in Wiz to Turbo loading in two areas: Enterprise Cloud, a company where it still stays behind AWS and Microsoft Azure; and security, an area where it offers some products but nothing by the size, scale or growth trajectory of WIZ.
Not long after the deal collapsed, WIZ arranged a secondary sale at $ 16 billion. Rumors were that it was in the process of fundraising at an even higher rating. And business has grown, with the company crossing $ 500 million in ARR last year and in the way to double this year up to $ 1 billion.
Last year On stage at interruptionRappaport did not discard the possibility of acquisition in the future, but he also confirmed that it was Wiz, who left the deal, describing it as “the hardest decision ever”, but also keeping it “the right choice.”
As for a mere financial result, it looks like his instinct has come true.
More next.
