Alphabet, Google's parent company, may be on the verge of making the biggest acquisition in its history.
Alphabet is in advanced talks to buy Wiz for about $23 billion, the Wall Street Journal reported. While the deal has not been finalized yet, the Journal says it could happen soon. Wiz offers a comprehensive approach to cloud security, ingesting data from Amazon Web Services, Microsoft Azure, Google Cloud and other cloud platforms and then scanning it all for security risks.
Alphabet executives are expected to see the deal as a way to boost Google's cloud business, which grew 28% to $9.57 billion in the first quarter of this year.
Neither Google nor Wiz immediately responded to TechCrunch's requests for comment.
The report comes just two months after Wiz announced it had raised $1 billion in a Series E funding round at a valuation of $12 billion. Wiz was founded four years ago by former Microsoft employees Assaf Rappaport, Ami Luttwak, Yinon Costica, and Roy Reznik, and has raised a total of $1.9 billion.
At the time of its recent funding, the company said it had $350 million in annual recurring revenue. It appears to be on a path to building smaller security startups through acquisitions and eventually going public, but it may find a different path as part of Alphabet.
The company's investors include Andreessen Horowitz, Lightspeed Venture Partners, Thrive, Greylock, Wellington Management, Cyberstarts, Greenoaks, Howard Schultz, Index Ventures, Salesforce Ventures, and Sequoia Capital.
