Alphabet to buy Wiz for US$32 billion in its biggest deal to boost cloud security

Quick Summary:

Alphabet said on Tuesday (Mar 18) it would buy Wiz for US$32 billion in its biggest deal as the Google parent doubles down on cybersecurity to sharpen its edge in the cloud-computing race against Amazon.com and Microsoft.

The stock rose about 35 per cent last year, but have lost 13 per cent so far this year on investor worries over its hefty AI investments after the launch of lower-cost DeepSeek.

One of the fastest-growing software startups, Wiz offers cloud-based cybersecurity solutions and was valued at US$12 billion in a funding round last May.

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Category: EconomyBusiness

Markets: Singapore

Topics: Services Cloud Year Deal Last Amazon Cybersecurity Google Billion Microsoft York

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-18 @ 19:41:00 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 428 words

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