Google → Wiz

Google's largest acquisition by far: an all-cash purchase of the Israeli cloud-security company at $32bn, agreed a year after Wiz had walked away from a $23bn offer to stay independent, and cleared without conditions by the US, the EU and five other jurisdictions.

An all-cash purchase of the cloud security firm, Google's largest, cleared unconditionally by the US, the EU and five other jurisdictions.

Value

$32B

Announced

March 2025

Completed

March 2026

Sector

Technology

Deal type

acquisition

Acquirer

Google (United States)

Target

Wiz (Israel)

Why it mattered

Wiz scanned customers' cloud environments — on AWS, Azure and Google Cloud alike — for misconfigurations and vulnerabilities, and had reached $500m of annual recurring revenue five years after founding, the fastest of any software company. Google wanted the product for its cloud business, which trailed Amazon and Microsoft, and paid about 60 times revenue to keep Wiz working across all three clouds rather than fold it into its own; the promise of neutrality was part of the price and part of the regulatory case.

The 2024 refusal had been about the founders' belief they could list at a higher value and about fear of a long antitrust review under the previous US administration; the 2025 agreement came with a reverse break fee reported at $3.2bn — 10% of the price — to cover the risk that the review would fail. It did not: clearances arrived within a year and the deal closed in March 2026.

What it left behind

A price for cybersecurity that reset the sector, a reverse break fee that became the reference for regulatory-risk deals, and a demonstration that a founder-led company can decline $23bn and receive $32bn. For the Israeli technology industry it was the largest exit ever, and for buyers of security companies it raised the question of whether neutrality can survive ownership by a cloud provider.