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Google LLC, a subsidiary of Alphabet Inc. (NASDAQ: GOOG, GOOGL) has signed a deal to buy Wiz, a New York-based cloud security company, for $32 billion in an all-cash deal.
The deal, which needs regulatory approval and standard closing conditions, will bring Wiz into Google Cloud to strengthen its security offerings as more businesses shift to multi-cloud systems.
Founded in 2020, Wiz provides a cloud-native security platform with tools for threat detection and risk management. It works across Amazon Web Services (AMZN.O), Microsoft Azure (MSFT.O), and Oracle Cloud (ORCL.N), serving big companies and government agencies.
Speaking on the acquisition, Sundar Pichai, CEO, of Google said, “From its earliest days, Google’s strong security focus has made us a leader in keeping people safe online. Today, businesses and governments that run in the cloud are looking for even stronger security solutions and greater choices in cloud computing providers. Together, Google Cloud and Wiz will turbocharge improved cloud security and the ability to use multiple clouds.”
“Google Cloud and Wiz share a joint vision to make cybersecurity more accessible and simpler to use for organizations of any size and industry. Enabling more companies to prevent cyber attacks, including in very complex business software environments, will help organizations minimize the cost, disruption, and hassle caused by cybersecurity incidents,” Thomas Kurian, CEO, of Google Cloud added.
Adding to the statement, Assaf Rappaport, Co-Founder & CEO, Wiz said, “Wiz and Google Cloud are fully committed to continue supporting and protecting customers across all major clouds, helping keep them safe and secure wherever they operate. This is an exciting moment for our company, but an even more important one for customers and partners, as this acquisition will bolster our mission to improve security and prevent breaches by providing additional resources and deep AI expertise.”
The company further noted that Wiz’s products will remain available on major cloud platforms and through Google Cloud’s marketplace and partners.