Google's parent company, Alphabet (GOOG, Financial), just made its biggest acquisition ever, snapping up cybersecurity startup Wiz for $32 billion to boost Google Cloud's security game.
This isn't Google's first try—a $23 billion bid fell through last year over antitrust concerns. Since then, Wiz's value jumped from $12 billion to $16 billion as it geared up for an IPO.
Wiz, an Israeli-founded firm, provides cloud security for tech giants like Microsoft (MSFT, Financial) and Amazon (AMZN, Financial). CEO Assaf Rappaport called the deal a “rocket boost”, saying Google Cloud will speed up its innovation.
To ease regulators' worries, Google promised Wiz's security tools will still work on competing platforms, including AWS and Microsoft Azure. But with Google already fighting two antitrust lawsuits, expect some pushback.
This move adds to Google's recent cybersecurity buys, including Mandiant ($5.4 billion) and Siemplify ($500 million) in 2022. With Microsoft facing security issues, Google is making a strong play for cloud dominance.
