Alphabet to buy cybersecurity startup Wiz for USD 32 billion

New York, Mar 18 (AP) Google owner Alphabet will buy cybersecurity startup Wiz for USD 32 billion.

The all-cash deal is set to boost Alphabet's profile in the cloud computing market, a space currently led by Amazon and Microsoft. Once the transaction is closed, the company says Wiz will join Google Cloud.

“Today, businesses and governments that run in the cloud are looking for even stronger security solutions, and greater choice in cloud computing providers,” Google CEO Sundar Pichai said in a statement Tuesday — adding that Google Cloud and Wiz will “turbocharge improved cloud security and the ability to use multiple clouds” together.

Wiz, a four-year-old startup headquartered in New York, makes security tools designed to shield the information stored in remote data centres from intruders.

Google has had its eyes on Wiz for some time. The purchase price announced Tuesday surpasses a reported USD 23 billion buyout proposal that Wiz rejected last July. (AP) GRS GRS

Source: PTI