(Reuters) -Google-parent Alphabet has agreed to buy cybersecurity startup Wiz for at least $32 billion, the Financial Times reported on Tuesday, citing people familiar with the matter.
This would bolster Google’s cloud business with Wiz’s AI-powered cybersecurity solutions that companies use to tackle critical risks, helping it better compete with cloud leader Amazon and Microsoft.
The deal would be Alphabet’s biggest purchase, much higher than the $23 billion that it was going to pay for Wiz a year ago while conducting initial talks.
Wiz last year called off the deal over concerns it would not clear antitrust hurdles. Wiz had said in an internal memo at the time that it would focus on an initial public offering.
The deal will be announced on Tuesday morning, the report said. Google and Wiz did not immediately respond to Reuters’ requests for comment.
(Reporting by Deborah Sophia in Bengaluru; Editing by Anil D’silva and Arun Koyur)
