Google is close to making its biggest acquisition ever | CNN Business
Google is close to making its biggest acquisition ever | CNN Business
Google owner Alphabet is in advanced discussions to buy fast-growing cybersecurity startup Wiz for roughly $23 billion, a person familiar with the matter confirmed to CNN.
Google owner Alphabet is in advanced discussions to buy fast-growing cybersecurity startup Wiz for roughly $23 billion, a person familiar with the matter confirmed to CNN.
A takeover of Wiz, which makes cybersecurity software for cloud computing, would represent a major bet by Google on cybersecurity, marking the tech giant’s biggest-ever acquisition.
How is it legal for Google to acquire anything at this point?
Well technically it's not Google, it's their mother company Alphabet. Tons of companies are built up like this.
I get what you are implying but it's quite the norm.
This is the best summary I could come up with:
Google owner Alphabet is in advanced discussions to buy fast-growing cybersecurity startup Wiz for roughly $23 billion, a person familiar with the matter confirmed to CNN.
Discussions between Google and Wiz began after the startup raised $1 billion from venture capital investors earlier this year, the source said.
In March 2022, Alphabet bought cybersecurity firm Mandiant for $5.4 billion as part of its efforts to help companies better address cyber threats and bolster its cloud computing business.
Buying Wiz would be a “shot across the bow” at Microsoft and Amazon, showing that Google is making a “major bet on the cyber security space to complement its flagship offering in the cloud,” Dan Ives, managing director and senior equity research analyst at Wedbush, wrote in a note to clients on Monday.
Just last week, AT&T revealed that nearly all of its wireless customers’ call and text records were exposed in a massive breach caused by an “illegal download” on a third-party cloud platform.
If the acquisition gets finalized and closes, it would mark a massive exit for Wiz and its founders — Assaf Rappaport, Ami Luttwak, Yinon Costica and Roy Reznik.
The original article contains 495 words, the summary contains 189 words. Saved 62%. I'm a bot and I'm open source!