Google completes $32 billion purchase of Israeli cybersecurity firm Wiz

Google says it has completed the acquisition of Israeli-founded cybersecurity unicorn Wiz for a staggering $32 billion, following regulatory approvals.

The deal, announced in March last year, is the largest-ever purchase of an Israeli tech company. For Google, it is the largest acquisition the search giant has ever made, more than double its record purchase of Motorola Mobility for $12.5 billion in 2012.

The transaction is expected to inject an estimated NIS 10 billion ($3.2 billion) into Israel’s state coffers in tax proceeds, as the four founders of Wiz and many of its employees are Israeli residents, and some of its investors are based in Israel.

As part of the deal, Wiz will join Google’s Cloud business, but remain independent. The firm, which says that its cyber platform is tailored to secure any application developers build and run in the cloud, employs about 1,800 workers, a workforce that will remain in place.

“Keeping people safe online has always been part of Google’s mission,” says Google CEO Sundar Pichai. “This job is increasingly important today, as more companies and governments move their work to the cloud and broadly use generative AI.”

“By bringing Wiz and Google Cloud together, we’re making it easier for organizations to innovate with confidence,” says Pichai.

The deal will boost Google’s cloud security offerings to help it compete with rival tech giants Amazon and Microsoft, and other big cyber firms such as Palo Alto Networks and CrowdStrike.

“Our mission remains bold and unwavering: to help every organization protect everything they build and run,” says Wiz co-founder Assaf Rappaport. “What has changed is the world around us. Now, we must do this at the speed of AI.”