Google parent firm Alphabet was reported by The Wall Street Journal to be nearing completion of an almost $30 billion deal to acquire Israeli cloud security startup Wiz, which provides software that enables cloud vulnerability and misconfiguration detection across corporate environments, according to SiliconAngle.
Such a purchase deal — which comes eight months after Wiz opted for an initial public offering instead of Alphabet's $23 billion takeover bid — was noted by WSJ sources close to the matter to "come together soon" in the absence of other hurdles.
Additional investment by Alphabet was said to have allayed investors' worries regarding the potential regulatory challenges that the agreement could face, noted the WSJ.
Successfully acquiring Wiz, which has so far secured $1.9 billion at a valuation of $12 billion, would make it the firm's largest purchase ever, surpassing the $12.5 billion spent to buy Motorola Mobility in 2011 and the $5.4 billion allocated for the acquisition of Mandiant in 2022.
