Google's Parent Company Alphabet Eyeing $23 Billion Startup Cybersecurity Acquisition Alphabet, Google's parent company, are in talks to buy startup cybersecurity company, Wiz, worth $23 billion

Google's parent company, Alphabet, are in advanced talks to acquire Wiz, a startup cybersecurity company, in a deal that is worth $23 billion. If the deal goes through, it would be Alphabet's biggest acquisition till date, a source told Reuters.

The source, on the condition of anonymity, told Reuters that the deal could potentially be funded mostly in cash and could materialise soon. The cybersecurity startup was founded in Israel and now headquartered in New York. Wiz has quickly become one of the fastest-growing software startups globally, providing cloud-based cybersecurity solutions with real-time threat detection and responses powered by artificial intelligence.

If the deal goes through, it would be a significant exception to the recent trend of US regulators cracking down on big tech companies' expansion through acquisitions. Wiz, which boasts an impressive client list including 40 per cent of Fortune 100 companies, has already secured a hefty $1 billion in private funding, valuing the company at $12 billion. With a global workforce of 900 employees and plans to hire 400 more, Wiz is a force to be reckoned with in the cloud security space. While neither Alphabet nor Wiz has confirmed the deal, it's clear that the tech industry is heating up with mergers and acquisitions, as per Reuters. Alphabet recently opted out of acquiring the online marketing software company HubSpot.

Cybersecurity is the need of the hour

With the world turning into a global digital village, it is now, more than ever necessary to invest in cybersecurity. Multi-million dollar companies invest heavily in cybersecurity to protect their sensitive data from being disseminated.

India is a booming market for cyber startups, as well as, cyber giants to sink their teeth into. The cost of cybersecurity tools varies based on their complexity and the level of protection it offers. On an average, organisations in India may spend anything between INR 50,000 to INR 5,00,000 annually on security software and tools.

As cyber threats escalate, businesses recognize the critical need for expert cybersecurity talent to safeguard their operations. This heightened demand has driven up salaries, making cybersecurity a significant investment for organisations. However, many are finding cost-effective solutions by partnering with managed security service providers (MSSPs). As per Anjali K, a cyber security analyst, in India, the average annual salary for a cybersecurity professional ranges from INR 6 lakh to INR 15 lakh, while MSSP services offer a more affordable option, costing between INR 3 lakh to INR 10 lakh annually.