(JNS) Google parent company Alphabet on Tuesday, March 18 confirmed its $32 billion acquisition of Israeli cloud security firm Wiz, making it the tech giant’s largest deal to date.

The move aims to strengthen Google Cloud’s security offerings amid growing competition from AWS and Microsoft.

Founded in 2020, Wiz has rapidly expanded, generating $500 million in annual recurring revenue and serving nearly half of the top 100 U.S. companies. Despite joining Google Cloud, Wiz’s security products will remain available on other platforms, including AWS and Azure.

The deal is subject to regulatory approval, and experts anticipate potential antitrust scrutiny before finalization later this year.

Talks on a $23 billion deal reportedly fell apart in July 2024.

Google has shown interest in the Israeli market, in 2013 purchasing Waze for $1.1 billion, creating the Jewish state’s first domestic unicorn (a startup reaching $1 billion in valuation without being listed on the stock market).

If completed, the deal would surpass Google’s previous biggest acquisition—the $12.5 billion purchase of Motorola Mobility in 2012.

While Wiz is headquartered in New York City with nearly 1,000 employees scattered across North America and Europe, most of its engineering team is based in Tel Aviv, where the 41-year-old Israeli co-founder and CEO Assaf Rappaport was born.