Google bought cybersecurity giant Wiz for $32 billion!

Google is buying cybersecurity firm Wiz for $32 billion in a bid to strengthen cloud computing security. The acquisition is pending regulatory approval, Alphabet announced.
 
Wiz serves major technology companies
Wiz, an Israeli startup, provides cloud-based security solutions to tech giants like Microsoft, Amazon and Oracle. Google announced that Wiz will continue to operate within Google Cloud after the acquisition. However, it was emphasized that Wiz's products will also be available on other cloud platforms in order to avoid antitrust concerns.
 
Antitrust review process continues
Google had planned to acquire Wiz last year for a valuation of $23 billion, but the company’s executives and investors rejected the deal because it could run afoul of antitrust laws. Now, it is thought that the new US administration and the Federal Trade Commission (FTC) will take a more flexible approach. The approval process of the acquisition is being closely monitored due to FTC Chairman Andrew Ferguson’s tough stance on big tech companies.
 
Google continues to invest in cybersecurity
Google has made major investments in cybersecurity in recent years. The company, which acquired Siemplify for $500 million and Mandiant for $5.4 billion in 2022, will make its biggest move in this area with Wiz. On the other hand, Google is currently struggling with two separate antitrust cases due to its search engine and digital advertising activities.
 
 
Source: CUMHA - CUMHURS NEWS AGENCY