Google is making the biggest purchase in its history. Alphabet’s parent company is winning WIZ, the start of the Cloud security for $ 32 billion, our sources say.
The deal will still need regulatory and other approval before closing. From what we can see, Google and WIZ still should not confirm anything official. Other exits are also reporting that the agreement has been made. Previously, Google’s largest purchase had bought Motorola mobility for $ 12.5 billion in 2011.
The deal has been out again for almost part of a year and appeared to be revived again this week, with Thomas Kurian-Teo of Google Cloud Europe at the moment. (Assaf Rappaort, New York -based WIZ CEO is currently in Israel.)
Last year, Google offered to buy WIZ for $ 23 billion, but the talks were allocated, sources say concerns about antitrust issues, WIZ autonomy under Google Cloud and potentially even in price. At the time of the deal talks, WIZ was rated $ 12 billion based on a $ 1 billion funding round at the beginning of the year.
In the meantime, there is now a new US president and some believe that the new regulatory regime will create a more favorable climate for purchasing large technology that could have previously been blocked.
For its part, Google has been interested in removing WIZ in Turbo Charbo in two areas: Enterprise Cloud, a business that remains behind AWS and Microsoft Azure; And security, an area where it offers some products, but nothing in the size, scale or trajectory of growth of WIZ.
Not long after the deal was divided, WIZ developed a secondary sale with a $ 16 billion rating. Rumors were that she was in the process of collecting funds in an even higher rating. And the business has been growing, with the company exceeding $ 500 million in the ENA last year and on the right track to double this year to $ 1 billion.
Last year on the stage in the stage, Rapaport did not rule out the possibility of buying in the future, but he also confirmed that it was WIZ who left the deal, describing it as the “toughest decision sometimes”, but also preserving it was “the right choice”.
In a purely financial result, it seems that his instinct has kept true.
More to come.
