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On the Wiz site on a smartphone organized in New York, the USA, on Tuesday, July 16, 2024.
Gabi Jones | Bloomberg | Gets the image
Google On Tuesday signed “final agreement” To purchase Wiz, New York Startup Security Security, for $ 32 billion in a doubt.
The transaction, the largest in Google, will strengthen the company’s security technology in the world’s advancement and cybersecurity threat. Wiz will become part of a company cloud business, and Google said it expects the deal to close in 2026.
“Google Cloud is a leader in cloud infrastructure, with deep AI examination and the results of leading security innovations,” ” Google said in the release. “Bringing all this in Wiz will help make your decisions even better and scalable, benefiting customers and partners on all major clouds.”
Last year Wiz walked the gaY from the potential acquisition of Google $ 23 billion and told the staff what it would be Chase ipo Instead. However, the IPO market will not open significantly yet, as the transactions have slowed down to the structure since 2022, and technology companies have optimistic that the Trump administration would open the door for large acquisitions after the complicated four years under President Joe Biden.
A source familiar with this question told CNBC that Wiz left the transaction in July partially because of the problems of antitrust regulation and investors.
“To say that” not such modest suggestions “is difficult,” wrote the co-founder of Wiz Assaf Rappaport in memoirs at the time that was received by CNBC.
A month later the federal judge manage which Google conduct monopoly on the search market four years after the government submitted it Landmarkwho claimed that Google created hard barriers to login and the feedback cycle that maintained its domination.
CEO of the alphabet Sundar Pichai was among the group of high -profile technologies that were present President Donald Trump Inauguration in January and Company Donate $ 1 million in the inaugural fund.
Assaf rappaport, Wiz, on the central stage on the first day of the 2021 Internet summit on Altice Arena in Lisbon, Portugal.
Harry Murphy | Sportsfile | Gets the image
Before reporting the latest negotiations with Google, Wiz aimed at IPO and $ 1 billion of annual revenue revenue. In the July note, Rapoport wrote that the company would chase these milestones.
Wiz was founded in 2020 and rapidly grew into rapport when the company got 100 million dollars of annual repetitive income After only 18 months. Claoud Security products include prevention, active detection and response MicrosoftWhich also sells safety software.
“Become a part of Google Cloud effectively ties a rocket to our backs: it will speed up our innovation rate faster than what we could achieve as an autonomous company,” Rapoport said in A at A in A Message in the blog on Tuesday.
While Google has a long history in M&A, it evaded the megadels. Before Wiz, its largest purchase was the purchase of Motorola’s $ 12.5 billion equipment in 2012. Two years later, the company sold Lenovo assets for $ 2.9 billion. Google also did the acquisition of cybersecurity in the past, paying 5.4 billion dollars for Mandiant in 2022.
The alphabet closed the year with $ 96 billion with cash and commodity securities.
WIZ products will still work on competitors platforms, including Amazon Web Services, Microsoft Azure and Oracle Cloud, the companies said. The first log of Wall Street Journal reported on Monday that companies were in advanced discussions.
On Tuesday, Alphabet shares fell by 3% and now decreased by 16% a year.
– Jennifer Elias and Jordan Niave contributed to this report.
