Google on Tuesday confirmed reports that it’s in the process of acquiring cloud security giant Wiz in a $32 billion all-cash deal.
Once the transaction is completed, Wiz will join Google Cloud, which also includes Mandiant (acquired for $5.4 billion in 2022).
“This acquisition represents an investment by Google Cloud to accelerate two large and growing trends in the AI era: improved cloud security and the ability to use multiple clouds (multicloud),” Google said.
A possible acquisition of Wiz by Google was first announced in July 2024, when the deal was reportedly valued at $23 billion. Wiz walked away from the deal, saying that it had decided to stick to its original plan and pursue an IPO.
In September 2024, Bloomberg reported that Wiz had been exploring a potential sale of existing shares at a valuation ranging between $15 billion and $20 billion.
Wiz has raised nearly $2 billion and the latest valuation — following a $1 billion funding round — put the company at $12 billion. Wiz is backed by prominent venture capital outfits like Andreesen Horowitz, Greylock and Sequoia Capital.
Wiz has developed solutions designed to scan enterprise cloud deployments to find and proactively fix security flaws that could pose a risk to organizations.
Last year, Google announced an ambitious enterprise security strategy that included two new threat intel and security operations products and plan to use the magic of AI to tap into the booming cybersecurity market.
The companies said that Wiz security products will remain accessible across all major cloud platforms, including Amazon Web Services (AWS), Microsoft Azure, and Oracle Cloud. Additionally, customers will continue to have access to Wiz’s offerings through partner security solutions.
Google Cloud reaffirmed its commitment to providing customers with diverse security options, ensuring that a variety of partner security solutions, including Wiz, remain available via the Google Cloud Marketplace.
In addition to Mandiant, Google’s cybersecurity portfolio includes Siemplify (acquired in 2022 for $500 million) and the VirusTotal malware scanning and threat intel service.
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