Google & WIZ Cybersecurity strike a deal making it one of the largest tech deals. The original offer from $23 billion in July to $32 billion, making it one of the largest tech deals ever.
This strategic magic deal by Google makes sense as it strengthens its cloud-computing business and expand.
Why does the acquisition matter?
Google’s acquisition of Wiz comes amid fierce competition in the cloud services market fuelled by the generative AI boom. Major cloud service providers such as Amazon Web Services (AWS) and Microsoft Azure are vying to be the top choice for hosting large language models (LLMs) and other generative AI services.
With an estimated market share of 15 per cent, Google Cloud Platform trails behind AWS and Azure in terms of growth. However, the company is likely to be betting on Wiz’s next-generation cloud security features to strengthen its standing in the sector.
Wiz, founded by a talented group of Israeli engineers, has been the go-to cloud security platform.
The all-cash deal, announced Tuesday, would be #Google‘s largest, easily surpassing its $12.5 billion purchase of Motorola Mobility in 2012, according to NYT.
‘Wiz will keep its commitment to being a multicloud platform, collaborating closely with all major clouds, including our fantastic partners at AWS, Azure, and OCI, while continuing to grow our partner network across the industry.
Google Cloud is a leader in cloud infrastructure, with deep AI expertise and a track record of industry-leading security innovation. Bringing all this to Wiz will help make their solutions even better and more scalable, benefiting customers and partners across all major clouds. The combination of Google Cloud and Wiz will:
- Vastly improve how security is designed, operated and automated — providing an end-to-end security platform for customers, of all types and sizes, in the AI era;
- Scale cybersecurity teams by providing them an automated security platform;
- Lower customers’ cost of implementing and managing security controls;
- Protect against new threats emerging due to the advancement of AI, prevent breaches, and help organizations respond to breaches much more efficiently; and
- Boost the adoption of multicloud security and, as a result, customers’ ability to use multiple clouds; further spurring innovation in and the adoption of cloud computing.
