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.
