Google Has Signed $32 Billion Agreement to Acquire Wiz

In the world of acquisitions, another agreement has been signed by Google to acquire Wiz, a leading cloud security platform, for a whooping $32 Billion. The headquarter of Wiz is in NewYork and the world is a abuzz with Google’s newest pick.

With the advent of AI, providing cloud security is becoming crucial, and Google has realized that. They have decided to enter the cloud security and multicloud industries to catch the trend of AI advancements and AI tools being launched every day around the globe. Not only is this a good business option, but Google will also help accelerate cloud security services in these lucrative markets.

Cyber security and cloud computing is now essential for every tool and Google is determined not to miss this trend. Moreover these tools to pose security threats to businesses as well as National security is at risk. Hence the giants like Google has all the capacity to combat these risks and take it as their moral duty.

Wiz has done really well by delivering security platforms and they claim to have 50% of fortune 100 companies as their customers with 5 million cloud workload protected so far and 230 billions files scanned everyday through their platforms. WIZ CEO, Assaf Rappaport proudly say:

“Siloed security tools and scanners, simply cant provide the perspective that today’s security professional need. Wiz gives security teams, the insights they need to mitigate risks and unlock innovation across their business”

With their exceptional track record, Google has added WIZ solutions to their arsenal. Google is leading the security innovation platforms and tools and has a deep understanding of the AI profession. Hence, the combination of these two businesses will elevate the service base and provide even better platforms to the business world.

Google has expressed that they will provide end-to-end security platforms and scale up the cybersecurity teams by providing automated security platforms. They aim lower customers’ cost and higher efficient protection against new threats,

They mentioned in their Press Release that

“Wiz’s products will continue to work and be available across all major clouds, including Amazon Web Services, Microsoft Azure, and Oracle Cloud platforms, and will be offered to customers through an array of partner security solutions. Google Cloud will also continue to offer customers wide choice through a variety of partner security solutions available in the Google Cloud Marketplace.”

The deal is also announced through their webcast here, Google to Acquire Wiz Webcast. In the webcast, Google CEO Sundar Pichai, Thomas Kurian, CEO Google Cloud and Assaf Rappaport has explained the deal, the short transcript are;

Quotes

Sundar Pichai, CEO, Google: 

“From its earliest days, Google’s strong security focus has made us a leader in keeping people safe online. Today, businesses and governments that run in the cloud are looking for even stronger security solutions, and greater choice in cloud computing providers. Together, Google Cloud and Wiz will turbocharge improved cloud security and the ability to use multiple clouds.”

Thomas Kurian, CEO, Google Cloud: 

“Google Cloud and Wiz share a joint vision to make cybersecurity more accessible and simpler to use for organizations of any size and industry. Enabling more companies to prevent cyber attacks, including in very complex business software environments, will help organizations minimize the cost, disruption and hassle caused by cybersecurity incidents.”

Assaf Rappaport, Co-Founder & CEO, Wiz: 

“Wiz and Google Cloud are fully committed to continue supporting and protecting customers across all major clouds, helping keep them safe and secure wherever they operate. This is an exciting moment for our company, but an even more important one for customers and partners, as this acquisition will bolster our mission to improve security and prevent breaches by providing additional resources and deep AI expertise.”

This wasn’t Google’s first acquisition, they have previously purchased Siemplify for $500 million and Mandiant for $5.4 Billion. With their own products and services for the industry, the addition of WIZ will further enhance the service base of Google. Other cyber security providers will surely take it as a peril for their customer base. They have to work harder to retain their customers.