According to sources, Google is in talks about making its largest acquisition to date.
The US technology behemoth is poised to spend $23 billion (£18 billion) for cyber security firm Wiz, according to The Wall Street Journal, barely four years after the company was created.
The possible transaction is roughly double the size of Google’s largest acquisition to date, the $12.5 billion purchase of Motorola Mobility in 2012.
Wiz provides cloud security services to some of the world’s largest corporations, including BMW, EA, and Salesforce.
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In May, the US-based firm was valued at $12 billion after raising $1 billion in a Series E fundraising round led by Andressen Horowitz, Thrive Capital, and other venture investors.
Wiz became the fastest-growing software firm in history in 2022, with annual revenue of $100 million less than 18 months after its inception.
“While breaking records is always nice, our revenue is simply a measure of the value we’re delivering to customers,” Wiz co-founder Assaf Rappaport stated in a blog post at the time.
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“When we first launched Wiz, we set out to create a product for the world’s leading organizations, taking into account all of the complexity and operational issues that their environments bring. This is a high standard to meet for every startup.
“With Wiz, companies are developing a new maturity level in their cloud environments by improving security, increasing visibility, and driving agility.”
According to its website, Wiz more than tripled this figure last year and expects to generate $350 million in sales by 2023.
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