Alphabet Inc., the parent company of Google, is set to acquire the cybersecurity startup Wiz for a substantial $23 billion in an all-cash deal expected to close by September this year. This move comes amidst heightened scrutiny by US regulators, particularly following President Joe Biden’s directive to closely examine foreign acquisition and merger deals for potential national security risks. The acquisition of Wiz, based in Israel, underscores Alphabet’s strategic intent to bolster its capabilities in digital security, particularly in safeguarding Kubernetes and enhancing vulnerability management.
The decision to acquire Wiz follows Alphabet’s recent announcement of acquiring HubSpot, a leading marketing software company. It’s a common strategy for large firms to acquire smaller ones to reduce competition and expand market dominance.
Google plans to leverage Wiz’s technology to enhance its security offerings, building upon previous acquisitions like Mandiant in 2022 for approximately $6 billion. For high-risk accounts, Google is rolling out enhanced security measures such as passkey protection, complementing physical security keys like YubiKey. These measures are aimed at safeguarding sensitive users such as journalists, politicians, and human rights workers from state-sponsored cyber threats.
Users interested in these advanced security features can enroll in Google’s Advanced Protection Program (APP), which provides robust defense against phishing, malware, and other data breaches.
In addition to cybersecurity advancements, Alphabet is preparing to unveil details about its facial recognition technology designed for securing corporate campuses. Currently being tested by its Security and Resilience Service team in Kirkland, Washington, this technology aims to protect users, products, and locations from unauthorized access.
To address privacy concerns, Alphabet emphasizes that its facial recognition data is used immediately and is never stored in any form on its servers, a clarification intended to reassure privacy advocates.
Overall, Alphabet’s acquisition of Wiz and its ongoing advancements in digital security and privacy technologies reflect its commitment to maintaining leadership in the competitive landscape of cybersecurity and tech innovation.
The post Google Alphabet to acquire Cybersecurity business Wiz for $23 billion appeared first on Cybersecurity Insiders.
July 15, 2024 at 08:43PM
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