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Google owner Alphabet is in advanced discussions to buy fast-growing cybersecurity startup Wiz for roughly $23 billion, a person familiar with the matter confirmed to CNN.

A takeover of Wiz, which makes cybersecurity software for cloud computing, would represent a major bet by Google on cybersecurity, marking the tech giant’s biggest-ever acquisition.

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[-] Burn_The_Right@lemmy.world 12 points 4 months ago

How is it legal for Google to acquire anything at this point?

[-] Ransack@lemmy.dbzer0.com 3 points 4 months ago

Well technically it's not Google, it's their mother company Alphabet. Tons of companies are built up like this.

I get what you are implying but it's quite the norm.

[-] autotldr 4 points 4 months ago

This is the best summary I could come up with:


Google owner Alphabet is in advanced discussions to buy fast-growing cybersecurity startup Wiz for roughly $23 billion, a person familiar with the matter confirmed to CNN.

Discussions between Google and Wiz began after the startup raised $1 billion from venture capital investors earlier this year, the source said.

In March 2022, Alphabet bought cybersecurity firm Mandiant for $5.4 billion as part of its efforts to help companies better address cyber threats and bolster its cloud computing business.

Buying Wiz would be a “shot across the bow” at Microsoft and Amazon, showing that Google is making a “major bet on the cyber security space to complement its flagship offering in the cloud,” Dan Ives, managing director and senior equity research analyst at Wedbush, wrote in a note to clients on Monday.

Just last week, AT&T revealed that nearly all of its wireless customers’ call and text records were exposed in a massive breach caused by an “illegal download” on a third-party cloud platform.

If the acquisition gets finalized and closes, it would mark a massive exit for Wiz and its founders — Assaf Rappaport, Ami Luttwak, Yinon Costica and Roy Reznik.


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this post was submitted on 17 Jul 2024
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