is set to buy sky safety platform after an unsuccessful attempt last year.
Once the deal, which is said to be Google’s largest, is concluded, the tech giant announced on Tuesday ( March 18 ) that it would pay$ 32 billion to purchase Wiz, which will become Wiz’s replacement.
In a press release, Google Cloud stated that the acquisition “demonstrates an expense by Google Cloud to promote two significant and growing trends in the AI period: improved cloud security and the ability to utilize various clouds.”
” Both cloud computing and security have rapidly expanding sectors with a wide range of solutions. The use of AI and the implementation of cloud services have fundamentally altered the customer’s security landscape, making cybersecurity extremely crucial in defending against emerging risks and safeguarding national security.
According to the release, Wiz’s surveillance system connects to” all major clouds and script settings” to help prevent security incidents. Google stated that Wiz’s items would still be accessible across all major skies, including those hosted on Amazon Web Services, Microsoft Azure, and Oracle Cloud.
The announcement comes in response to reports from Monday that Google and Wiz were close to reaching a deal, though the final price tag was slightly higher than the$ 30 billion figure that was reported.
According to CNBC, Wiz had reportedly rejected a$ 23 billion merger bid by Google next summer, citing an internal note from Wiz Co-founder .
It’s difficult to say no to such modest presents, according to the letter.
He stated in a statement on Tuesday that the offer will help Wiz advance its cloud security mission.
He wrote,” Assaulters aren’t slowing down, and sky is more important than ever.” They are now employing the most cutting-edge technology to move more quickly. We certainly believe that this news will help us achieve our goal of doing everything we can to advance the Wiz vision.
PYMNTS wrote about the , growing risk of scammers using both high-tech and low-tech strategies to target potential victims in various cybersecurity news last week.
The threat environment is not only composed of tens of thousands of strong bots right out of a science fiction film, according to the report. Some of the schemes are being carried out by swindlers using the traditional postal service. Criminal organizations are now sending a select high-ranking executives fraudulent snail mail by using stolen personally identifiable information ( PII ) that was stolen from some of 2024 ‘s and .