Google owner to buy cybersecurity firm Wiz for £24.7bn

The parent firm of Google is to buy cybersecurity firm Wiz in a 32 billion US dollar (£24.7 billion) deal.

Alphabet, which also runs YouTube and Android, said the deal will help drive growth in its cloud-computing business by offering more security for its services.

The new firm will become Google’s most expensive acquisition in the company’s 25-year history when the deal completes.

Alphabet said Wiz will join its Google Cloud business as part of the deal.

Wiz, which is based in New York and was founded in 2020, makes security tools designed to shield the information stored in remote data centres from intruders.

The takeover comes after Wiz rejected a previous takeover approach from Google, worth around 23 billion dollars (£17.7 billion), last July.

The potential deal collapsed after company directors at Wiz raised concerns that the move could struggle to overcome obstacles from competition regulators.

The US Federal Trade Commission is likely to scrutinise the acquisition deal.

Sundar Pichai, chief executive of Google, said: “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.”

Assaf Rappaport, co-founder and chief executive of Wiz, said: “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.”