The media published information according to which Alphabet, Google’s parent company, is nearing the conclusion of the deal to acquire the startup Wiz, which operates in the cybersecurity area.
It is worth mentioning that last summer an attempt was made to acquire the mentioned startup by the specified technology giant. However, it fell through. At that time, the value of this business agreement was $23 billion. Currently, the corresponding figure is $30 billion.
On Monday, March 17, the media, citing anonymous insiders, published information according to which the startup and the technology giant are in advanced talks. It was also noted that the deal may be concluded shortly if there are no unforeseen circumstances that disrupt the implementation of the business agreement.
Alphabet and Wiz did not respond to media requests for comment on the mentioned insider information.
The acquisition of a startup, as noted by journalists, would help strengthen the technology giant’s efforts in the area of cloud computing. The successful implementation of the deal, which is still a likely prospect but not a guaranteed scenario, allows Alphabet to offer enhanced security features from Wiz to customers.
Also, the mentioned deal if it will be done will be the biggest acquisition made by a technology giant in its entire history. This business agreement will top the $12.5 billion purchase of Motorola Mobility that closed in 2012.
In July, it became known that Wiz had rejected Alphabet’s $23 billion acquisition offer. At that time, the startup intended to implement plans related to an initial public offering (IPO) of shares. Also in July, the media reported that investor and antitrust concerns were the factors impacting the Wiz decision.
The startup was valued at $12 billion after it raised $1 billion in a May funding round. At that time, Wiz announced its intention to use the received funding for fuel acquisitions, and product and talent development.
In August, a message was posted on the startup’s blog stating that it reached 100 official integrations in the first year after the launch of its integration platform. Wiz stated that by enabling independent software vendors (ISVs) to build bi-directional integrations on top of the Wiz API, it could extend the solution to meet the diverse security needs of its clients. Also in August, the startup noted that it had been authorized by the Common Vulnerability and Exposure (CVE) Program as a CVE Numbering Authority (CNA). This means that the brand could assign CVEs to vulnerabilities and rapidly share disclosed cybersecurity vulnerabilities with the public.
Moreover, in the mentioned month it became known that Wiz for Government achieved FedRAMP Moderate authorization. In this case, the startup joined its StateRAMP authorization its IL4 in-process status.
Dean Scontras, area vice president, of the public sector at Wiz, said in August that the startup is on the brink of three, including cyber, cloud technology, and artificial intelligence.
As we have reported earlier, Alphabet Shares Demonstrate Decline on Revenue Miss.
