$30 BILLION! Deal between Alphabet and Wiz biggest possible deal ever for Israeli hi-tech

Alphabet is set to buy Israeli company Wiz for $30 billion, according to a report in the Wall Street Journal today (Monday).

According to Reuters, the two companies had been negotiating a $23 billion deal in 2024, but Wiz begged off to focus on their Initial Public Offering or IPO.

Reuters says that Wiz "provides cloud-based cybersecurity solutions powered by artificial intelligence that help companies identify and remove critical risks on cloud platforms."

According to Calcalist, "Cloud security decacorn Wiz announced two months ago that it had raised $1 billion at a $12 billion valuation, bringing the company’s total funding to $1.9 billion. The latest round was led by Andreessen Horowitz, Lightspeed Venture Partners, and Thrive Capital, with participation from Greylock, Wellington Management, and existing investors Cyberstarts, Greenoaks, Howard Schultz, Index Ventures, Salesforce Ventures, and Sequoia Capital. The round also included a relatively small secondary component estimated at tens of millions of dollars."

Barring any last-minute snags, the deal is expected to go through, the largest such acquisition for Alphabet and the largest "exit" or buyout in Israeli history thus far.