Heaptalk, Jakarta — Alphabet’s Google is reportedly in advanced talks to acquire cybersecurity startup Wiz for about US$23 billion, approximately Rp371 trillion.
According to a source familiar with this intention, if the deal is to be completed, this strategic agreement is claimed to be Alphabet’s largest acquisition ever. While the discussions are still weeks from completion, this measure is also part of the company’s focus on cybersecurity reinforcement and a way to fortify Google’s cloud business, which grew 28% to US$9.57 billion in Q1 2024.
Established in 2020 by former Microsoft employees Assaf Rappaport, Ami Luttwak, Yinon Costica, and Roy Reznik, Wiz provides cloud cybersecurity solutions by providing executives and cybersecurity professionals with insights or analyzed data about the company’s cloud.
According to its official website, this startup generated about US$350 million in revenue last year and served about 40% of the Fortune 100. This startup has also just completed funding worth US$1 billion, which puts the company’s valuation at US$12 billion.
Supported by multiple leading blue-chip companies, such as Cyberstartsm Index Ventures, Insight Partner, and Sequoia Capital, this cybersecurity startup intends to perform an Initial Public Offering (IPO) after touching US$12 million in its valuations. With its outstanding performance, Wiz startup has worked with leading cloud providers worldwide, such as Microsoft and Amazon.
Google also previously executed a large-scale acquisition of the cybersecurity company Mandiant in the last two years, with a total acquisition value reaching US$5.4 billion (around Rp87 trillion). However, the company now experiences unprecedented levels of antitrust scrutiny. The Justice Department has sued Google twice on antitrust grounds.
Nevertheless, as cited in CNBC, talks with Wiz suggest the company has shown possibilities for mergers and acquisitions, despite competition concerns. Yet, this tech company, Google, did not immediately respond to the request for a response.
