(VOR News) – A person who is familiar with the matter and spoke to the media on Sunday revealed that Alphabet, the parent company of Google, is reportedly in advanced discussions to acquire the cybersecurity startup Wiz for approximately $23 billion.
This information was brought to the attention of the media. This particular piece of information was supplied by the individual who addressed the media.
If this transaction were to be finalized, the corporation that dominates the technology industry would be making its most significant acquisition to this point.
The acquisition, which is being funded primarily through cash, may be finalized in the not too distant future, according to a source who spoke on condition of anonymity while expressing their opinion.
Source provided Alphabet information on condition it stay private.
Wiz, a software company that was established in Israel and currently has its headquarters in New York, is one of the businesses that is expanding at the quickest rate throughout the world in terms of its global expansion.
Wiz was created in Israel. In addition to offering solutions for cybersecurity that are hosted in the cloud, it also offers real-time threat detection and responses that are powered by the capabilities of artificial intelligence.
If Alphabet were to go through with the transaction, it would be an unusual instance of a huge technology company pursuing a mega-acquisition at a time when the industry is being subjected to increased regulatory scrutiny under the administration of Joe Biden, the Vice President of the United States of America.
This is something that would be the case given that the government is currently paying a greater amount of attention to the sector.
Over the course of the past several years, Alphabet regulators in the United States have shown a rising antipathy toward the idea of giant technology companies expanding their operations through mergers and acquisitions. This hostility has been expressed by the regulators.
The company Wiz collaborates with forty percent of the companies that are included in the Fortune 100, and the Alphabet website of the company states that the company’s sales in 2023 were approximately three hundred and fifty million dollars.
In light of the fact that the company recently completed a private investment round that resulted in the funding of one billion dollars, the valuation of the company was only recently assessed to be twelve billion dollars.
Wiz is a cloud service provider that collaborates with a wide range of firms, including Microsoft and Amazon, and claims to have a diverse clientele of businesses as its customers. Wiz collaborates with a number of different businesses, including Morgan Stanley and DocuSign, among others.
In the past, Wiz has asserted that it intended to raise the number of people working for it by 400 across the world by the year 2024. There are currently 900 persons working for the organization in various locations throughout the world, including the United States of America, Europe, Asia, and Israel.
Alphabet realized it wouldn’t be worth buying HubSpot recently.
A firm that specializes in generating software Alphabet products for internet marketing. HubSpot is responsible for developing software products.
This year has seen an increase in the total number of transactions that have taken place in the technology industry as a whole. This trend has been observed over the course of this year.
Synopsys, a company that specializes in design software, reached a deal in January to purchase Ansys, a competitor that is on the smaller side, for approximately $35 billion.
Ansys is a company that faces competition from other companies. In the month of January, Hewlett Packard Enterprise reached a deal with Juniper Networks, a firm that specializes in the production of networking equipment, to acquire the company for a price of $14 billion. The agreement was reached between the two Alphabet companies.
According to the information that was provided by Dealogic, the sector of technology was the one that was responsible for the greatest number of mergers and acquisitions that occurred during the first half of the year.
The total amount of these transactions reached $327.2 billion, which is an increase of more than 42 percent when compared to the volume of transactions that occurred in the previous year.
SOURCE: TET
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