• Google has confirmed that it will indeed purchase cloud security startup Wiz for $32 billion.
• The agreed upon figure is a record acquisition for Google, as well as being far more than it tabled last year.
• The finalisation of the deal is still subject to regulatory approval.

Less than 24 hours ago we reported on growing rumours surrounding Google and its parent company Alphabet wanting to acquire cloud security startup Wiz.

Now the deal has been agreed upon, with Google set to pay $32 million for the startup, also setting a new record for the company in terms of acquisitions.

This is far more than the $12.5 billion paid for Motorola Mobility back in 2011, and quite a bit more than the $23 billion that both companies were discussing last year before any deal could be agreed upon.

As such, it looks like Google is paying a premium in order to bolster the security capabilities of its Google Cloud ecosystem, which in recent years, launched a point of presence in South Africa.

While it remains to be seen how the acquisition will impact Google’s ability to bring more customers over to its hyperscaler platform, it has been confirmed that once the all-cash dealis closed, Wiz will be folded into Google Cloud.

“This acquisition represents an investment by Google Cloud to accelerate two large and growing trends in the AI era: improved cloud security and the ability to use multiple clouds (multicloud),” Google explained in a blog post.

“Both cybersecurity and cloud computing are rapidly growing industries with a vast range of solutions. The increased role of AI, and adoption of cloud services, have dramatically changed the security landscape for customers, making cybersecurity increasingly important in defending against emergent risks and protecting national security,” it added.

The big tech firm has already outlined what the acquisition will mean for customers moving forward, with the following elements set to be added to the mix within the company’s Cloud ecosystem:

• “Vastly improve how security is designed, operated and automated — providing an end-to-end security platform for customers, of all types and sizes, in the AI era;
• Scale cybersecurity teams by providing them an automated security platform;
• Lower customers’ cost of implementing and managing security controls;
• Protect against new threats emerging due to the advancement of AI, prevent breaches, and help organizations respond to breaches much more efficiently; and
• Boost the adoption of multicloud security and, as a result, customers’ ability to use multiple clouds; further spurring innovation in and the adoption of cloud computing.”

The deal’s completion is still subject to regulatory approval, but it is unclear whether the wait will be as drawn out as it was when Microsoft purchased Activision Blizzard.