Google's parent company, Alphabet, may be on the verge of making the biggest acquisition in its history.
The Wall Street Journal reports that Alphabet is in talks to acquire Wiz for about $23 billion. The deal hasn't been finalized yet, but the WSJ reports it could be coming together soon. Wiz offers an all-in-one cloud security approach that ingests data from cloud platforms like Amazon Web Services, Microsoft Azure, and Google Cloud, and scans it all for security risk factors.
Alphabet executives likely see the acquisition as a way to bolster Google's cloud business, which grew 28% to $9.57 billion in the first quarter of this year.
Neither Google nor Wiz immediately responded to TechCrunch's request for comment.
The report comes just two months after Wiz announced it had raised $1 billion in Series E, bringing its valuation to $12 billion. Founded four years ago by former Microsoft employees Assaf Rappaport, Ami Luttwak, Yinon Costica and Roy Reznik, Wiz has raised a total of $1.9 billion.
The company reported $350 million in annual recurring revenue at the time of its most recent funding round. The company appears to be pursuing plans to acquire smaller security startups and eventually take them public, but now that it's part of Alphabet, it may find a different path.
The company's investors include Andreessen Horowitz, Lightspeed Venture Partners, Thrive, Greylock, Wellington Management, Cyberstarts, Greenoaks, Howard Schultz, Index Ventures, Salesforce Ventures and Sequoia Capital.