Alphabet to acquire cybersecurity firm Wiz for $32 billion

The deal will be Google's largest-ever buyout

- AGENCIES 18 March

Alphabet said on Tuesday it would buy Wiz for about $32 billion in its biggest deal as the Google parent doubles down on cybersecurity to sharpen its edge in the cloud-computing race against Amazon and Microsoft.

The all-cash buyout comes after Wiz rejected a $23 billion bid from Alphabet last year due to concerns about antitrust approvals and its aim to focus on an initial public offering.

Acquiring Wiz will help Google bolster its cloud business with AI-powered cybersecurity solutions that companies use to remove critical risks, helping it compete better in an industry benefiting from the rise of generative AI services like ChatGPT.

"Cloud is more important than ever, and attackers are not slowing down. They are already using the most innovative technologies to move faster," said Wiz CEO and cofounder Assaf Rappaport, who had called Google's previous offer "humbling".

While a tough regulatory climate in 2024 had hampered such large-scale deals, Wall Street is optimistic that a shift in antitrust policies under US President Donald Trump could reignite dealmaking momentum.