Google Parent Alphabet Strikes $32B Deal to Buy Cybersecurity Firm Wiz | Global News Avenue

Google Parents Letters (GOOGL) reached a deal to buy an all-cash deal for $32 billion, the biggest acquisition the tech giant has ever made.

If the deal is approved, Wiz will join Google’s cloud business.

“The acquisition represents an investment from Google Cloud to accelerate two large and growing trends in the AI ​​era: improving cloud security and the ability to use multiple clouds (MultiCloud).” Alphabet said in a statement.

Wall Street Journal have Report The letter will once again try to buy the Wiz for $30 billion. Alphabet said it had acquired the company at a lower price last year. Report. Dealogic says the $32 billion acquisition of Wiz will mark Alphabet’s biggest deal ever, far surpassing its previous first: its $13 billion acquisition Motorola Mobility More than ten years ago.

In a report based on the pending deal, Oppenheimer analysts said that owning Wiz will allow Google to become a “leading provider in the cloud security space and also a top 10 provider in Security.” They added that with the increase in Wiz, Google has been from Palo Alto Networks Inc.pan-), Crowdstrike Holdings Inc.Crust) and fortinet (ftnt), “This will require rethinking its partnerships and pricing strategies.”

Alphabet shares were about 4% on Tuesday, up more than 7% in the past 12 months. The Palo Alto network, CrowdStrike and Fortinet have dropped by about 1%.