Alphabet, Google's parent company, is reportedly in advanced negotiations to acquire cloud security firm Wiz for approximately $23 billion, according to the Wall Street Journal. Wiz specializes in a comprehensive approach to cloud security, analyzing data from major platforms like AWS, Microsoft Azure, and Google Cloud for potential security risks. This acquisition could significantly bolster Google's cloud business, which saw a 28% growth to $9.57 billion in the first quarter of this year. The deal comes shortly after Wiz's $1 billion Series E funding round, which valued the company at $12 billion.
Founded by former Microsoft employees, Wiz has raised a total of $1.9 billion and boasts $350 million in annual recurring revenue. Investors include Andreessen Horowitz, Lightspeed Venture Partners, and Sequoia Capital. Neither Google nor Wiz have commented on the potential acquisition.
Source: TechCrunch
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