S&P 500 slips, but losses kept in check as Nvidia climbs ahead of results
Investing.com - Google said today it entered into a definitive agreement to acquire Wiz, a prominent cloud security platform, for $32 billion in an all-cash deal.
Google-parent Alphabet (NASDAQ:GOOGL)’s shares were unchanged in premarket trade Tuesday.
The transaction, which is subject to customary closing adjustments, will integrate Wiz into Google Cloud once completed.
The company said the acquisition is a strategic move by Google Cloud to enhance its security capabilities and address the increasing need for multi-cloud strategies in the era of artificial intelligence (AI).
As cloud computing and cybersecurity industries continue to expand, the demand for robust security solutions to protect against evolving threats and maintain national security is becoming more critical.
Wiz’s platform is known for its user-friendly interface and its ability to connect with all major cloud services and coding environments, helping to prevent cybersecurity incidents.
The merger is expected to result in a comprehensive security platform that addresses the design, operation, and automation of security in the AI era.
Wiz’s products will remain operational and accessible across major clouds, including Amazon (NASDAQ:AMZN) Web Services, Microsoft (NASDAQ:MSFT) Azure, and Oracle (NYSE:ORCL) Cloud.
Google Cloud will also offer a selection of partner security solutions through the Google Cloud Marketplace.