Google Said Set For Biggest Acquisition, Buying Israeli Firm For $23B
Summary
Google parent company Alphabet is reportedly on the cusp of its largest acquisition ever, with the purchase of Israeli cloud security startup Wiz for $23 billion. It would also become Google’s second major acquisition of an Israeli tech company, having bought traffic navigation app Waze in 2013 for $1.1 billion. Quoting people familiar with the matter, the Wall Street Journal said if they reach fruition, the negotiations for the purchase should be finalized in the near future. Wiz analyzes infrastructure hosted in public cloud services for risk factors that could allow hackers to gain control of assets and obtain sensitive customer data. The WSJ said Google, which has a market value of over $2 trillion, was a “conservative acquirer” of new assets, comparig it to fellow US tech giant Microsoft, which last year bought gaming company ActivisionBlizzard, which makes the best-selling Call of Duty franchise, for a reported $75 billion.