Alphabet, the parent company of Google, will buy cybersecurity startup Wiz for $32 billion, the largest acquisition in the company’s history. The all-cash deal aims to help Alphabet’s profile in the storage space generation sector, which is currently led by Amazon and Microsoft. Once the transaction closes, Eiz will join Google Cloud. “Today, businesses and governments that operate with storage are looking for stronger security solutions and greater choice,” said Google CEO Sundar Pichai.
He added that Google Cloud and Wiz will “empower improved security” and the ability to use “different storage spaces” together.
Wiz, a New York-based startup, makes security tools designed to protect information stored in data centers from hackers. Google had been eyeing Eiz for some time. The purchase price exceeds the initial $23 million offer that Wiz turned down last July. The acquisition will be reviewed by special regulators. Although many expect the Trump administration to be more friendly to business deals, it has shown skepticism toward the tech giants.