# Google Near $23 Billion Deal for Cybersecurity Startup Wiz

**URL:** <https://onehack.st/t/google-near-23-billion-deal-for-cybersecurity-startup-wiz/286975>\
**Category:** News & Articles\
**Tags:** business\
**Created:** [July 15, 2024, 3:22pm UTC](https://onehack.st/t/google-near-23-billion-deal-for-cybersecurity-startup-wiz/286975 "2024-07-15T15:22:22Z")\
**Posts on this page:** 1\
**Page:** 1

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**Author:** ![TheJoker](https://onehack.st/user_avatar/onehack.st/thejoker/32/22660_2.png) [@TheJoker](https://onehack.st/u/TheJoker)\
**Post date:** [July 15, 2024, 3:22pm UTC](https://onehack.st/t/google-near-23-billion-deal-for-cybersecurity-startup-wiz/286975/1 "2024-07-15T15:22:23Z")

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**Summary:**

1. **Acquisition Details** : Alphabet, Google’s parent company, is in advanced talks to acquire cloud security startup Wiz for approximately $23 billion. This deal would value Wiz at nearly double its most recent valuation of $12 billion and would be Alphabet’s largest acquisition to date.

2. **Wiz’s Growth** : Founded in January 2020, Wiz has become a leader in the Cloud-Native Application Protection Platform (CNAPP) space. The company has achieved over $350 million in annual recurring revenue (ARR) as of January 2024, growing by more than 75% year-over-year. Wiz’s client base includes over 40% of Fortune 100 companies.

3. **Strategic Implications** : This acquisition highlights the increasing importance of cybersecurity in Alphabet’s enterprise strategy as it competes with cloud computing rivals like Microsoft. The deal follows Alphabet’s previous security-focused acquisitions, including Mandiant for $5.4 billion in 2022 and Siemplify for $500 million. There are concerns about Wiz’s ability to maintain neutrality across multiple cloud platforms, which could benefit competitors such as Palo Alto Networks and CrowdStrike.

[Read more on WSJ.com](https://wsj.com)