Google Readies $23B Deal for Wiz, a Startup, Despite Antitrust Scrutiny

Google is close to finalizing its largest-ever acquisition, negotiating a $23 billion deal to purchase Wiz, a cybersecurity start-up based in New York. Despite facing antitrust scrutiny, Google is pushing forward with the deal to strengthen its cloud-computing division. The potential acquisition would significantly enhance Google's offerings to business customers, bridging connections between Google Cloud and companies utilizing other cloud computing systems like AWS and Azure. This move comes as regulators, under President Biden's administration, have been vigilant against tech giants' acquisitions and corporate consolidation. Google's interest in Wiz aligns with its strategy to diversify revenue sources beyond online advertising. The acquisition, led by Google Cloud's CEO Thomas Kurian, aims to bolster cybersecurity capabilities for corporate clients like BMW and Morgan Stanley. Wiz, founded in Israel in 2020 and now valued at $12 billion, has experienced rapid growth, raising $1 billion in funding and increasing annual recurring revenue to $350 million. Despite potential regulatory hurdles, Google's pursuit of Wiz underscores its commitment to expanding its cloud services portfolio through strategic acquisitions.