The scaleup previously declined a 23 billion US Dollars bid after having raised one billion on the ground of an enterprise value of 12 billion
On 19 March, Wednesday, Alphabet, the owner of Google, said it reached a final agreement for the 32 billion US Dollars worth acquisition of New York’s cloud cybersecurity platform Wiz, Inc that will merge with Google Cloud (Google statement and blog post of WIZ).
In 2023, Wiz declined a 23 billion offer from Google as it was going to launch an ipo while aiming to generate recurring sales of one billion from 350 million at the end 2024 (CNBC).
In My 2024, Wiz secured a one billion dollar round that attracted the resoruces of lead investor Andreessen Horowitz, Lightspeed Venture Partners and Thrive Capital on the ground of an enterprise value of 12 billion (press release).
Assaf Rappaport, Yinon Costica, Ami Luttwak, and Roy Reznik founded Wiz in 2020 while in 2012 they created Adallom, a cloud security busined that Microsoft acquired for 320 million in 2015 (press release).
Cybersecurity and cloud computing are sectors that are rapidly growing with a wide range of solutions. The artificial intelligence and the adoption of cloud services fundamentally increased the cybersecurity importance, Google’s note states.
Assaf Rappaport, the cofounder and ceo of Wiz, said: “Our company and Google Cloud are fully committed to continuing to support and protect customers on all major clouds, helping to keep them safe and secure wherever they operate. This is an exciting time for our company, but even more important for our customers and partners, as this acquisition will strengthen our mission to improve security and prevent breaches by providing additional resources and deep artificial intelligence expertise.”
Sundar Pichai, the ceo of Google, commented: “Since the early days, Google’s strong focus on security made us a leader in keeping people safe online. Today, businesses and governments operating in the cloud are looking for even stronger security solutions and a greater choice of cloud computing providers. Together, Google Cloud and Wiz will drive improvements in cloud security and the ability to use more clouds”.
Thomas Kurian, ceo of Google Cloud, added: “Google Cloud and Wiz share a common vision to make cybersecurity more accessible and easier to use for organisations of all sizes and industries. Enabling more businesses to prevent cyber-attacks, even in very complex enterprise software environments, will help organisations minimise costs, disruptions and problems that cybersecurity incidents cause.”
Wiz is an easy-to-use security platform that connects to all major cloud and code environments to help prevent cybersecurity incidents. Organisations of all sizes, from start-ups and large enterprises to governments and public sector organisations, can use Wiz to protect everything they build and run in the cloud. Wiz is an innovative leader and continues to deliver new products with strong adoption, fuelling rapid business growth, even in the last 12 months when it began delivering new categories of cybersecurity solutions.
Google Cloud is a leader in cloud infrastructure, with deep expertise in artificial intelligence and industry-leading security innovation. Bringing all this to Wiz will help make its solutions even better and more scalable, benefiting customers and partners across all major clouds.
