Alphabet Inc. Revives $30 Bln Acquisition Talks With Wiz Following Collapse Of $23 Bln Deal: Report

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(RTTNews) - Tech major Google's parent Alphabet Inc. (GOOGL, GOOG) is in advanced talks to acquire cybersecurity startup Wiz for around $30 billion, the Wall Street Journal reported citing people familiar with the matter.

If finalized, this would mark Alphabet's largest acquisition to date. The deal could be completed soon, provided there are no last-minute obstacles, similar to those that derailed previous discussions, the report said.

This acquisition is expected to strengthen Alphabet's position in the competitive cloud computing market, where it has been striving to catch up with its peers.

In July 2024, Wiz reportedly declined Alphabet Inc.'s $23 billion offer due to concerns over antitrust issues and investor feedback, among other factors. The company decided to proceed with its original plan of launching an initial public offering (IPO).

However, with IPO markets remaining subdued over the past year, Wiz has since resumed deal negotiations with several parties, the report noted.