Google's parent company, Alphabet, has announced its largest acquisition to date, purchasing cybersecurity firm Wiz for $32 billion.
This strategic move aims to enhance Google's competitiveness in the cloud services market against rivals like Microsoft and Amazon. Wiz, an Israeli startup founded in 2020, specializes in scanning cloud storage for security risks and has previously collaborated with major cloud platforms. Notably, Wiz had declined a $23 billion offer from Alphabet last year due to regulatory concerns.
Post-acquisition, Wiz will maintain its brand, operate independently, and continue its services across major cloud platforms. This acquisition reflects Google's efforts to diversify beyond search-related advertising and strengthen its position in the cloud and AI markets. The deal is expected to face regulatory scrutiny.
Read the full article on The Guardian.