TechCrunch reports that the acquisition of cloud cybersecurity firm Wiz by Google parent company Alphabet for $23 billion was noted by a source close to the matter to be in the "advanced" stages.
Such a deal — which commenced only weeks ago when Google Cloud CEO Thomas Kurian approached the startup that initially had no plans of being acquired — could close within the next 10 days although the odds that the purchase would proceed is still only at 50%, according to the source. The reported acquisition deal comes only two months after Wiz was able to secure $1 billion from a Series E investment round that brought its valuation to $12 billion. While Wiz disclosed having almost $350 million in annual recurring revenue at the time, the startup has already reached $500 million ARR and is expected to reach $1 billion ARR next year, said the source.
