Google Agrees To Buy Cloud Security Firm Wiz For $32 Billion

The Deal Comes After Wiz Turned Down A $23 Billion Bid From The Internet Search Leader Last Year

- Bloomberg

Google parent Alphabet Inc. agreed to acquire cybersecurity firm Wiz Inc. for $32 billion in cash, reaching a deal less than a year after initial negotiations fell apart because the cloud-computing startup wanted to stay independent.

Wiz will join the Google Cloud business once the deal closes, the companies said in a statement on Tuesday. The takeover is subject to regulatory approvals and is likely to close next year, they said.

The deal, which would be Alphabet's largest to date, comes after Wiz turned down a $23 billion bid from the internet search leader last year after several months of discussions.