According to a source with knowledge of the situation, Google-owned Alphabet is in advanced discussions to buy cybersecurity startup Wiz for around$ 30 billion on Monday, which could be the tech giant’s largest deal to date.
The man said the agreement hasn’t been signed and could still change.
Reuters contacted Alphabet and Wiz for opinion, but they did not respond right away.
According to people with knowledge of the situation, The Wall Street Journal first reported the news of the conversations between the businesses on Monday.
To concentrate on its initial public offering, Wiz had called off a$ 23-billion deal with Alphabet next year.
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The company offers cloud-based cybersecurity solutions based on artificial intelligence that aid businesses in identifying and removing significant risks from cloud-based platforms.
A buyout of this length will most likely encounter regulatory scrutiny because technology companies are kept on watch for potential monopolistic practices.
If the offer is approved, it could help Alphabet grow its rising fog system business, which generated more than$ 43 billion in revenue last year.
Last month, Alphabet canceled a deal to buy HubSpot, an internet advertising software company.
Since last year’s international CrowdStrike outage, there has been a surge in interest in the security sector, increasing businesses ‘ concern about protecting their digital structures.
In a secret financing round in May 2024, Wiz was previously valued at$ 12 billion.
( Reporting by Seher Dareen and Zaheer Kachwala in Bengaluru and Krystal Hu, edited by Pooja Desai )