Google is on the verge of the largest acquisition — ever. The deal is currently set to be finalized by September, and it has garnered a lot of attention due to its significant price tag.
What’s Happening & Why This Matters
Alphabet Inc., Google’s parent company, is planning to buy out the cybersecurity startup Wiz for a whopping USD $23 billion, making it the most expensive acquisition ever by the internet giant. The deal is expected to be finalized by Fall 2024. The Israeli-based company is following the announcement by President Joe Biden of increased scrutiny on foreign acquisitions with regard to National Security. This action is part of a larger effort to secure American interests.
TF Summary: What’s Next
With this announcement of acquiring Wiz for a princely sum, Alphabet Inc. is positioning itself for an even stronger cybersecurity presence. This move in response to the changed landscape of foreign acquisition and other announced mergers, shows how tech companies adapt to stay ahead. TF expects more mergers and convergence especially by Google’s competition.