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economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
livemint.com / 1 year ago
livemint.com / 1 year ago
Explained: Inside Google's $32 billion Wiz deal
Google has confirmed that it has entered into «a definitive agreement» to acquire cloud cybersecurity startup Wiz. According to a joint press release from Google and Wiz, the all-cash deal is valued at $32 billion, subject to closing adjustments. Once finalised, Wiz will become part of Google Cloud.
Google CEO Sundar Pichai shared more details about the deal on X.
He wrote, “From our earliest days, Google’s strong security focus has made us a leader in keeping people safe online.”
He added, “Today, businesses and governments are looking for even stronger security solutions and greater choice in cloud computing providers. Together, @GoogleCloud + @Wiz_io will turbocharge improved cloud security and the ability to use multiple clouds.”
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This deal will help Google to bolster its cloud business. The tech giant helps customers detect and respond to attacks through both SaaS-based services and cybersecurity consulting.
Why the deal?
In a blog post, Google Cloud CEO Thomas Kurian explained the reasoning for the deal.
He discussed how the shift towards digitalisation, with organisations increasingly adopting multi-cloud or hybrid systems, and the deep integration of software and AI platforms into products and operations, is creating complex challenges and introducing new risks.
He wrote, “Traditional approaches to cybersecurity struggle to keep up with this evolving landscape.”
How does Wiz work?
According to the blog, Wiz delivers a «seamless cloud security platform that connects to all major clouds
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