Business News

Google is close to making its biggest acquisition ever

17.07.2024
Views: 47

By the CNN News

Google's parent company, Alphabet, is in advanced talks to acquire cybersecurity startup Wiz for approximately $23 billion, according to a source familiar with the matter. This potential acquisition would mark Google's largest-ever purchase and a significant move into the cybersecurity sector.

Discussions between Google and Wiz began following the startup's recent $1 billion funding round from venture capital investors earlier this year. However, details of the deal are still being finalized, and there's a possibility that negotiations could fall through, the source added.

The news of Google's interest in Wiz was first reported by The Wall Street Journal. Neither Google nor Wiz has responded to requests for comment from CNN.

If the acquisition proceeds, it would surpass Google's previous record acquisition of Motorola for $12.5 billion a decade ago, which ended in a substantial loss when Google sold off Motorola just two years later.

Wiz, founded in March 2020 during the Covid-19 pandemic, has experienced rapid growth and boasts a client base that includes 40% of Fortune 100 companies. The startup provides cybersecurity software tailored for cloud computing and counts major companies like BMW, Slack, and Salesforce among its customers.

Similar articles

Business News
US Seeks Information From Tesla on How It Developed and Verified Whether Autopilot Recall Worked
Federal safety investigators want Tesla to tell them how it developed the fix in a recall of more than 2 million vehicles with the company’s Autopilot partially automated driving system
Read
Business News
OpenAI unveils newest AI model, GPT-4.0
OpenAI unveiled its latest advancement in artificial intelligence on Monday...
Read
Business News
Amazon Web Services CEO to step down
Amazon Web Services (AWS), the primary revenue driver for Amazon, is set to undergo a leadership change
Read
Business News
Apple slashed iPhone prices in China. Sales are bouncing back
Apple's iPhone sales in China are experiencing a significant rebound as the company has aggressively reduced prices to attract budget-conscious consumers in a struggling economy
Read
Business News
Elon Musk's X is allowing users to post consensual adult content, formalizing a prior Twitter policy
Social media giant X has announced that it will now officially permit users to share consensual adult content
Read
Business News
Bitcoin bounces above $62,000, Solana leads cryptocurrencies higher
Cryptocurrencies rebounded broadly the day after bitcoin dropped below $60,000 for the first time since early May...
Read
Business News
Apple’s New AI Initiatives: What You Need to Know
Apple recently made headlines at its Worldwide Developers Conference by announcing a dual approach to artificial intelligence (AI) integration
Read
Business News
TikTok ramps up attacks on Biden administration in challenging prospective ban
TikTok intensified its criticism of the Biden administration on Thursday regarding legislation...
Read
Business News
Microsoft ditches OpenAI board observer seat amid regulatory scrutiny
Microsoft has decided to relinquish its observer seat on OpenAI's board, citing significant improvements in the AI start-up’s governance over the past eight months
Read
Business News
Google’s Latest Algorithm Update Shakes Up the Web: Why Your Site’s Traffic Might Be Plummeting
In a dramatic turn of events, Google's latest algorithm update has sent shockwaves through the digital world
Read