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Google’s move on Wiz: a cybersecurity game-changer, or another pointless splurge?
Summary: Google is reportedly poised to make its largest acquisition ever, eyeing Israeli cybersecurity firm Wiz for a staggering $23 billion, according to The Wall Street Journal. This deal, still subject to regulatory approval and employee compensation details, raises intriguing questions about the tech giant’s strategy. What makes Wiz, a four-year-old company with 950 employees that ...
Google is reportedly poised to make its largest acquisition ever, eyeing Israeli cybersecurity firm Wiz for a staggering $23 billion, according to The Wall Street Journal. This deal, still subject to regulatory approval and employee compensation details, raises intriguing questions about the tech giant’s strategy.
What makes Wiz, a four-year-old company with 950 employees that raised $1 billion two months ago suddenly worth nearly double its recent $12 billion valuation? It’s not revenue, which reportedly tops out at $350 million annually. Instead, Wiz’s value lies in its software, which helps companies manage complex multicloud architectures combining services from giants like Amazon, Microsoft, and Google with bare-metal solutions or private servers.
This acquisition appears to be a bold move to strengthen Google Cloud’s position in the competitive cloud security market. By incorporating Wiz’s technology, Google aims to attract more customers and generate increased revenue from security services.
The cloud market is fiercely contested, with Amazon Web Services leading at 31% in a market valued at around $76 billion in the first quarter of 2024, followed by Microsoft Azure at 25%, and Google trailing at 11%. With the market expected to double in four…
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Tags: Enrique Dans
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