Google owner Alphabet is in advanced discussions to buy fast-growing cybersecurity startup Wiz for roughly $23 billion, a person familiar with the matter confirmed to CNN.

Google owner Alphabet is in advanced discussions to buy fast-growing cybersecurity startup Wiz for roughly $23 billion, a person familiar with the matter confirmed to CNN.

A takeover of Wiz, which makes cybersecurity software for cloud computing, would represent a major bet by Google on cybersecurity, marking the tech giant’s biggest-ever acquisition.

    • Ransack@lemmy.dbzer0.comEnglish
      1·
      4 months ago

      Well technically it’s not Google, it’s their mother company Alphabet. Tons of companies are built up like this.

      I get what you are implying but it’s quite the norm.

  • AutoTL;DR@lemmings.worldBEnglish
    4·
    4 months ago

    This is the best summary I could come up with:

    Google owner Alphabet is in advanced discussions to buy fast-growing cybersecurity startup Wiz for roughly $23 billion, a person familiar with the matter confirmed to CNN.

    Discussions between Google and Wiz began after the startup raised $1 billion from venture capital investors earlier this year, the source said.

    In March 2022, Alphabet bought cybersecurity firm Mandiant for $5.4 billion as part of its efforts to help companies better address cyber threats and bolster its cloud computing business.

    Buying Wiz would be a “shot across the bow” at Microsoft and Amazon, showing that Google is making a “major bet on the cyber security space to complement its flagship offering in the cloud,” Dan Ives, managing director and senior equity research analyst at Wedbush, wrote in a note to clients on Monday.

    Just last week, AT&T revealed that nearly all of its wireless customers’ call and text records were exposed in a massive breach caused by an “illegal download” on a third-party cloud platform.

    If the acquisition gets finalized and closes, it would mark a massive exit for Wiz and its founders — Assaf Rappaport, Ami Luttwak, Yinon Costica and Roy Reznik.

    The original article contains 495 words, the summary contains 189 words. Saved 62%. I’m a bot and I’m open source!