- Alphabet is nearing a deal to buy cybersecurity startup Wiz for $23 billion, per WSJ.
- Sources told The Wall Street Journal that the tech giant is in advanced talks to buy the startup.
- Wiz was founded in 2020 and became one of the fastest growing startups a year later.
Google’s Alphabet is closing in on a deal to purchase Wiz, a four-year-old cloud cybersecurity startup, for about $23 billion, sources familiar with the talks told The Wall Street Journal.
The sources said that the search engine giant is in advanced talks to buy the company, and a deal is imminent, assuming those talks don’t fall apart.
According to The New York Times, Wiz will be Google’s largest acquisition if the purchase goes through.
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Spokespeople for Google and Wiz did not immediately respond to a request for comment.
Founded in March 2020, Wiz is a startup that offers security for companies that utilize cloud storage providers such as Amazon Web Services.
In less than a year, the startup was evaluated at $1.7 billion and soon secured investments from Salesforce, Blackstone, and Algae, making Wiz one of the fastest-growing startups at the time, Business Insider previously reported.
But Alphabet’s potential acquisition of Wiz comes at a time of great antitrust scrutiny from the Biden administration.
The Justice Department sued Google in 2020, accusing the search engine giant of monopolization. A verdict on the yearslong, landmark trial is expected later this year.
