Google’s parent company Alphabet announced its acquisition of the Israeli cybersecurity company Wiz, in a deal estimated at $32 billion. This marks the largest exit in the history of Israel’s high-tech industry—nearly double the previous record set by Mobileye, which was acquired by Intel for approximately $15.3 billion.
Negotiations Began Last Summer
Discussions about Google acquiring Wiz began last summer, initially revolving around a price of approximately $23 billion. According to reports in the Financial Times, the estimated deal size later increased to around $30 billion before ultimately being finalized at an even higher amount.
Earlier in the negotiations, Wiz had considered bypassing acquisition in favor of an independent IPO. However, the company ultimately decided to sell to Google, making this a massive start up success story. The acquisition marks the largest in Google’s history, significantly strengthening its presence in the cloud security market.
What Does Wiz Do?
Wiz was founded in March 2020 by entrepreneurs Assaf Rappaport, Ami Luttwak, Yinon Costica, and Roy Reznik—veteran cybersecurity experts with extensive experience, particularly in cloud security. The company specializes in cybersecurity management for cloud computing infrastructures and quickly became one of the leading firms in data protection.
Following rapid growth, Wiz reached a valuation of $1.7 billion within just a year. Over the past few years, the company has continued its accelerated expansion, reporting annual sales of approximately $350 million by the end of 2023—highlighting its immense global market potential.
The founders of Wiz had previously sold their former company, Adallom, to Microsoft and later worked together at Microsoft Israel’s research and development division. While Wiz is officially registered in the United States, with its headquarters in New York, it maintains a significant R&D center in Israel as well as offices in Palo Alto and London.
The Future of Wiz Under Google
The acquisition will enable Wiz to expand its cybersecurity products and strengthen its focus on cloud security solutions for businesses worldwide. The company is expected to continue operating independently while leveraging Google’s vast resources to enhance its advanced security technologies.
