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Key Takeaways
- The Wall Street Journal is reporting Google’s parent company, Alphabet, is in talks with a cybersecurity startup to acquire it in a deal worth roughly $23 billion.
- The startup is called Wiz and provides cybersecurity software for cloud computing.
- If the deal goes through, this would be the largest acquisition the tech giant has ever made.
Google parent Alphabet (GOOG) is reportedly gearing up for $23 billion acquisition, the largest in the company’s history.
Alphabet is near to a deal with Wiz, a cybersecurity software provider for cloud computing, according to the Wall Street Journal, which cited anonymous sources close to the deal Sunday. The deal would shore up Alphabet’s presence in the cyber security and cloud computing space.
The tech giant has spent big money to catch up to its peers in that sector. If the deal goes through, Wiz would join Mandiant in Alphabet’s cybersecurity business. The Mandiant deal was another record-breaking deal for the tech giant, clocking in at $5.4 billion and second only to Alphabet’s purchase of Motorola Mobility for $12.5 billion.
Alphabet’s cloud business accounted for $9.5 billion of revenue in its first fiscal quarter and CEO Sundar Pichai said the company’s cloud business is “now widely seen as the leader in cybersecurity.”
The company will report earnings for the second quarter on July 23.
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