Google parent Alphabet in talks to securing $23 billion deal for cybersecurity leader Wiz: Report
Washington/IBNS: American tech giant Google's parent company, Alphabet, is in advanced talks to secure the monumental acquisition of the cybersecurity firm Wiz for an estimated $23 billion, Reuters reported, citing an insider who shared details on Sunday under the condition of anonymity.
According to reports, this acquisition would mark the largest in Alphabet's history.
The report from the news agency indicated that the deal, primarily financed through cash, could be finalized shortly.
Israeli-founded startup Wiz, which is now based in New York, has rapidly emerged as a leading player in the cloud-based cybersecurity sector, offering real-time threat detection and artificial intelligence (AI)-powered response solutions.
Should Alphabet proceed, this acquisition would stand out as a significant move by a major tech corporation amid increased regulatory scrutiny during the United States President Joe Biden's tenure.
As per reports, the US regulators have increasingly resisted large-scale acquisitions by tech giants in recent years.
According to Wiz website, the firm, in 2023, reported approximately $350 million in revenue and serves 40 percent of Fortune 100 companies.
Wiz recently secured $1 billion in a private funding round, valuing it at $12 billion, according to reports.
The tech firm collaborates with major cloud providers like Microsoft and Amazon and has a clientele that includes prominent companies such as Morgan Stanley and DocuSign, reports Reuters adding that Wiz, with a workforce of 900 employees spread across the US, Europe, Asia, and Israel, has announced plans to hire an additional 400 employees globally in 2024.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
Related Articles
CRR cut, AI ethics push, and SORR benchmark: Experts hail RBI’s pragmatic policy moves
Mumbai: The Reserve Bank of India (RBI) has kept the repo rate unchanged at 6.5% while the cash reserve ratio (CRR) has been slashed by 50 basis points to 4 percent, media reports said.
JP Morgan gives 'overweight' rating to Adani Group bonds
Mumbai: US investment bank JP Morgan has assigned an 'overweight' rating to four bonds issued by the Adani Group, citing the group's capacity to scale and grow through internal cash flows, which reduces the likelihood of credit stress.
LG Electronics files DRPH with SEBI; IPO size expected to be over RS 15,000 cr
Mumbai: South Korean electronics giant LG Electronics has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on Friday for the proposed public listing of its Indian business, according to a notification on the Bombay Stock Exchange (BSE).
De-dollarisation not on India's agenda; derisking domestic trade is: RBI Governor Shaktikanta Das
Mumbai: India has not initiated any steps towards de-dollarisation and is solely focused on mitigating risks to domestic trade from geopolitical uncertainties, Reserve Bank of India (RBI) Governor Shaktikanta Das clarified on Friday, media reports said.
Latest News
FTA with EFTA nations to come into effect from October 1, says Indian Minister Piyush Goyal
Three die during protests over alleged gangrape of tribal girl in Bangladesh
Cocktail 2: Homi Adajania, Kriti Sanon join Shahid-Rashmika's pool party in Sicily, fresh picture from shoot arrives
Tension flares up in PoK as thousands come out on streets against Shehbaz Sharif govt
