Alphabet Wiz Bid Raises Big Questions
Plans by Alphabet (Nasdaq: GOOGL) to acquire cloud cybersecurity startup Wiz for about $23 billion appear to be on track. An announcement could come “soon,” according to the Wall Street Journal, which broke the news July 14. If the deal materializes, it will be the largest undertaken by Google’s parent company in over a decade, and it will mark another major move in the consolidation of the cybersecurity market.
The deal could also expose Alphabet to some tough questions.
First, the basics: It's been just over two months since Wiz scored $1 billion in funding at a $12 billion valuation, bringing its total raised to about $1.9 billion—remarkable given that the company was founded in 2020.
Back in May 2024, CEO and co-founder Assaf Rappaport predicted ongoing cybersecurity M&A: “I’ve said 2024 is the year of consolidation – for Wiz, and the industry at large. The days of sprawling tech stacks are drawing to a close, driven by the same thirst for consolidation that gave rise to the CNAPP [cloud native application protection platform] category.”
Cybersecurity Consolidation Continues
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