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Alphabet , Google ’s parent company , is in advanced talks to acquire wizard for $ 23 billion , a person close to the company say TechCrunch . The deal word werepreviously reportedby The Wall Street Journal .
Wiz , a cybersecurity inauguration founded in 2020 , was approach a few weeks ago by Thomas Kurian , head of Google ’s cloud division , the source said . Since then , talks proceeded cursorily and the two parties tentatively agree on the purchase price .
The someone tell that a spate of this order of magnitude face up many hurdles and detail that would have to be sorted out , but did n’t narrow down what the hurdles are . Deal negotiations could take another hebdomad to 10 days and have a 50 % chance of fall apart , harmonise to the source .
The offered toll would more than three-fold Wiz ’s last private valuation of $ 12 billion , which the company achieved in May when it raiseda $ 1 billion Series E.
Wiz has been growing astronomically fast . The company reached ARR ( annual resort taxation ) of $ 100 million a simple 18 months after its launching , making it one of thefastest - growing fellowship ever . In May , Wiz announced that its ARR was in the $ 350 million range . Its emergence has only speed up since then . Today , the ARR stands at $ 500 million and it plans to remove ARR of $ 1 billion next year , the person say .
Given its fast growth , Wiz has always intended to take itself public but was n’t planning to launch its oblation this year or in 2025 . The company was n’t looking for a buyer until Google approached it .
However , Google Cloud may allow for Wiz with strong revenue synergism , which means Wiz may have a honorable chance of selling its intersection to the technical school hulk ’s customer .
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If the deal is reached at $ 23 billion , it would value Wiz at 46 times its current ARR and 23 times its stick out 2025 ARR . In comparing , Wiz ’s principal contender , Palo Alto Networks , is trade at just above 14 times its trailing 12 calendar month revenue . Google appear ready to pay a virtually 300 % agio to Wiz ’s closest comparable .
virtuoso ’s backers admit Andreessen Horowitz , Cyberstarts , Index Ventures , Insight Partners and Sequoia .
