Google parent Alphabet Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL) is reportedly in advanced discussions to acquire cybersecurity startup Wiz for approximately $30 billion, a move that would mark the company's largest acquisition to date.
What Happened: The deal could come together soon, barring any last-minute complications, reported the Wall Street Journal, citing people familiar with the matter.
Alphabet was previously close to acquiring Wiz for around $23 billion last summer, but talks collapsed over regulatory concerns and structural disagreements.
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Wiz, founded in 2020 by former Microsoft Corporation (NASDAQ:MSFT) executives, offers cloud-based cybersecurity solutions and has quickly become one of the fastest-growing startups in the sector.
Headquartered in New York with offices in the U.S. and Israel, the company partners with major cloud providers, including Amazon.com, Inc. (NASDAQ:AMZN), Microsoft, and Google.
Wiz was valued at $16 billion in a late 2023 tender offer, and its backers include leading venture capital firms such as Sequoia Capital and Andreessen Horowitz, the report noted.
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Why It's Important: If finalized, the acquisition would not only eclipse Google's previous record $12.5 billion Motorola Mobility deal but also signal its growing focus on cloud infrastructure and cybersecurity.
The potential deal also tests the appetite of antitrust regulators under the Donald Trump administration.
Google is already facing two antitrust lawsuits, and any new major acquisition could draw further scrutiny.
Price Action: At the time of writing, Alphabet’s Class A shares had gained 0.097% in after-hours trading, while Class C shares edged up 0.018%. Earlier on Monday, Class A shares closed down 0.73% at $164.29, and Class C shares declined 0.63% to $166.57, according to Benzinga Pro data.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
