GOOGLE ATTEMPTS TO BUY WIZ FOR 30$BILLION. 

Last year, Google had made an attempt to acquire Wiz but the two companies were unable to finalise the deal at a $23 billion valuation.

Alphabet, Google’s parent company, is once again in advanced negotiations to acquire cloud cybersecurity startup Wiz, according to a report by The Wall Street Journal. Last year, Google had made an attempt to acquire Wiz but the two companies were unable to finalise the deal at a $23 billion valuation.

Leading the acquisition effort is Thomas Kurian, head of Google Cloud, which sees Wiz’s cloud security solutions as a strategic addition to its portfolio. According to a report by Tech Crunch, Wiz has also demonstrated strong financial growth, reporting an annual recurring revenue (ARR) of $500 million as of July 2023, with expectations to reach $1 billion in 2025.

Despite its rising valuation, an acquisition at $30 billion would represent a significant premium. Wiz last secured external funding of $1 billion in May 2023 at a valuation of $12 billion, which later increased to $16 billion in an employee tender offer.

Neither Google nor Wiz has made any public comment on the rumoured acquisition.