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With the acquisition of Wiz and the previous acquisition of Mandiant, Google wants to position itself prominently as a security expert on demand. According to the New York
With the acquisition of Wiz and the previous acquisition of Mandiant, Google wants to position itself prominently as a security expert on demand.
According to the New York Times, Google has auctioned off more than $23 billion for Wiz. It would be the largest acquisition by Alphabet, Google’s parent company. Previously, it seemed to be Hubspot, but Google has reportedly decided not to get involved in potential acquisitions.
Wiz is a startup that specializes in securing cloud environments. The company has only been around for four years, but has already launched many cloud products. Wiz has also uncovered some major security vulnerabilities, including ChaosDB and OMIGOD.
The startup raised $1 billion in May and was valued at $12 billion at the time. The security provider reported revenue of $350 million for 2023, up from $100 million two years earlier.
According to insiders, Google Cloud CEO Thomas Kurian is the key factor in the Wiz takeover. He personally gave the impetus to make an offer.
If the deal goes through, Google will significantly strengthen its security portfolio after previously acquiring Mandiant in 2022 for $5.4 billion. Together with Wiz, Google could establish itself as one of the most important security providers. Wiz and Mandaint have pure-play security products that do not necessarily rely on the cloud, which is primarily the case with Microsoft (Azure) and Amazon (AWS).
Whether Google wants to profile itself as a general security specialist remains to be seen. It was the birthplace of Kubernetes, and yet Google Cloud is often not the primary platform for containerized apps. This could now be possible with the acquisition of Wiz. On the other hand, Google may not have these ambitions and Wiz may just fill an interesting gap in the cloud giant’s portfolio.
If the deal goes through, it is not yet certain whether regulators around the world will approve the acquisition. When Google paid $2.1 billion for FitBit in 2019, the company had to overcome many hurdles with regulators. First, we will have to wait and see if the deal even goes through.
Source: IT Daily
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