Google has agreed to purchase its cloud-cremation business and expand beyond the search engine and consumer internet services in the company’s largest push to buy a fast growing cyber security start-up for 32 billion dollars in the company’s largest push, which has made it a domestic name.
All-Cash Deal, Announced on TuesdayGoogle’s largest, in 2012, Motorola Mobility will easily cross the purchase of $ 12.5 billion.
With this deal, Google will find a five -year -old company, with most consumers unfamiliar, but that the increasing number of businesses rely to protect its cloud application. The Silicon Valley veteran worked for months last year to make a deal for wise, recently a price of $ 12 billion. In July, Vij dismissed Google’s offer to offer an acquisition of $ 23 billion, saying that he wanted to pursue an early public offer, but never came an IPO.
Splash purchase will inject fresh speed in Google Cloud, which sells computing services to other businesses. It will also be the most aggressive attempt by the tech veteran to maintain Microsoft, its long -standing rival, Microsoft in cybercity.
Google CEO Sundar Pichai said in a statement, “Today, the businesses and governments in the cloud are looking for more strong security solutions, and cloud computing providers are more options.” “Together, Google Cloud and Wiz improved the ability to use cloud security and many clouds.”
But first, Google’s original company alphabet, regulatory obstacles will have to be cleaned.
The deal will test the company’s ability to make major acquisition during the antitrust fight prevalent with the US government. The Department of Justice has sued Google in two separate monopoly cases, one has targeted its omnipresent search engine and the other is trying to break its digital advertising-technology business. A federal judge ruled that the company had illegally maintained monopoly in online search and would decide on measures to restore competition by August.
Under President Trump, regulators have continued to take a stand against corporate consolidation. In January, justice department Case sued to block the acquisition of Hewlet Pacord Enterprise A opponent, the Junipar network, arguing that the deal will eliminate competition and increase prices in the computer networking industry.
The alphabet has spent years in an attempt to diversify from the search engine, YouTube video service and other online advertising businesses that bring in three-fourths of their revenue. The alphabet has created venture companies such as self-driving cars Wells and Worli, which focuses on health care, but they are yet to be fully paid.
The company has also pumped resources in Google Cloud. Like its rivals Amazon web services and Microsoft Azure, unit companies offer a variety of services to stores data and analyze data, as well as run applications.
WIZ acquisition aligns with a plan to make Google Cloud a big player in cyber security. Under Thomas Kurien, the Chief Executive Officer of the unit, Google Cloud bought two cyber security firms in 2022, compulsory for $ 5.4 billion and siemplife for one $ 500 million reportedThis strategy can help hold Google to Microsoft, stating that it produces more than $ 20 billion in annual revenue from security, making it the world’s largest provider of cyber security software.
If complete, the deal can also help rebuild the revenue expansion of Google Cloud. As the business has increased, its speed has usually slowed down, although the revenue in the fourth quarter increased by 30 percent to $ 12 billion from a year ago.
Wiz has increased at a fast pace. Last year, it was said that it was $ 350 million in recurring revenue, two years ago from $ 100 million. The company, which is located in New York, has said that it plans to reach $ 1 billion in recurring revenue in 2025.
“This acquisition will enhance our mission to improve safety and prevent violations by providing additional resources and deep AI expertise,” WIZ CEO Asaf Rapoport said in a statement.
Vij’s investors include Andresen Horovitz, Thrive Capital, Greenox and Advent International.
Lauren Hirsa Contributed to reporting from New York.
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