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Google to acquire cybersecurity firm Wiz for $32 billion

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Google has struck a deal to buy cybersecurity firm Wiz for $32 billion, marking the tech giant’s biggest-ever acquisition as it faces the potential disintegration of its internet empire. The proposed acquisition, announced Tuesday, is part of Google’s aggressive expansion into cloud computing during a boom in artificial intelligence. The frenzy is fueling demand for data centers that provide the computing power for AI technology and intensifying competition in that sector between Google and two other tech giants, Microsoft and Amazon.
If regulators approve the deal, Wiz will become part of Google Cloud, which is a growing part of Google’s business. Most of Google’s money—around $350 billion per year—comes from ads and search, but Google Cloud is becoming more important. Wiz helps protect cloud data and adding it to Google Cloud will strengthen Google’s security services, especially as more businesses use artificial intelligence.
The deal needs approval from regulators and is expected to be completed by 2026. However, since Google is already facing antitrust investigations, there could be challenges in getting the deal approved.With the rise of AI, Google’s cloud business has become more important. In 2022, it made $26.3 billion, and by last year, its revenue jumped 64% to $43.2 billion.
Wiz is a startup that was founded five years ago by four friends who met in the Israeli army as teenagers. The company, which started in Israel in 2020, is expected to make about $1 billion this year. Now based in New York, Wiz creates security tools to protect data stored in cloud centers.
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