Contact us Find us Register
Back to previous section

Alphabet in talks to buy cyber startup Wiz for $23bn — report.

Google parent company Alphabet is reportedly closing in on a deal to buy Israeli cybersecurity startup Wiz for $23bn, according to Dow Jones.

  • ALPHABET-A
  • 15 July 2024 11:48:20

Source: Sharecast

Citing people familiar with the matter, the two parties are in "advanced talks" regarding a takeover, and if completed the deal would represent Alphabet's largest acquisition in history following the $12.5bn purchase of Motorola Mobility in 2012 and $5.4bn takeover of Mandiant in 2022.

Wiz, founded in 2020 by Assaf Rappaport, Yinon Costica, Roy Reznik, and Ami Luttwak, is a cloud-based cybersecurity solutions firm with headquarters in New York and offices in Israel.

The company secured a valuation of $12bn in May after raising $1bn and was thought at the time to be considering a potential stock-market listing. It has raised a total of $1.9bn in fundraising since its launch.

Wiz is backed by several different groups including Sequoia, Geenoaks Capital Partners, Blackstone and Salesforce Ventures.

S&P 500 ( S500 )

ISIN: N/A
Exchange: New York Stock Exchange
Sell:
5,487.86
Buy:
5,611.92
Change: 32.08 ( 0.58 %)
Date:
Prices delayed by at least 15 minutes

Compare our accounts

If you're looking to grow your money over the longer term (5+ years), we have a range of investment choices to help.

View our accounts

Halifax is not responsible for the content and accuracy of the Markets News articles. We may not share the views of the author. Understand the risks, please remember the value of your investment can go down as well as up and you may not get back the full amount you invest. We don't provide advice so if you are in any doubt about buying and selling shares or making your own investment decisions we recommend you seek advice from a suitably qualified Financial Advisor. Past performance is not a guide to future performance.