Submitted 4 months ago by gedaliyah@lemmy.world to technology@lemmy.world
https://www.cnn.com/2024/07/15/tech/google-wiz-acquisition/index.html
Google owner Alphabet is in advanced discussions to buy fast-growing cybersecurity startup Wiz for roughly $23 billion, a person familiar with the matter confirmed to CNN.
A takeover of Wiz, which makes cybersecurity software for cloud computing, would represent a major bet by Google on cybersecurity, marking the tech giant’s biggest-ever acquisition.
How is it legal for Google to acquire anything at this point?
Well technically it’s not Google, it’s their mother company Alphabet. Tons of companies are built up like this.
I get what you are implying but it’s quite the norm.
This is the best summary I could come up with:
Google owner Alphabet is in advanced discussions to buy fast-growing cybersecurity startup Wiz for roughly $23 billion, a person familiar with the matter confirmed to CNN.
Discussions between Google and Wiz began after the startup raised $1 billion from venture capital investors earlier this year, the source said.
In March 2022, Alphabet bought cybersecurity firm Mandiant for $5.4 billion as part of its efforts to help companies better address cyber threats and bolster its cloud computing business.
Buying Wiz would be a “shot across the bow” at Microsoft and Amazon, showing that Google is making a “major bet on the cyber security space to complement its flagship offering in the cloud,” Dan Ives, managing director and senior equity research analyst at Wedbush, wrote in a note to clients on Monday.
Just last week, AT&T revealed that nearly all of its wireless customers’ call and text records were exposed in a massive breach caused by an “illegal download” on a third-party cloud platform.
If the acquisition gets finalized and closes, it would mark a massive exit for Wiz and its founders — Assaf Rappaport, Ami Luttwak, Yinon Costica and Roy Reznik.
The original article contains 495 words, the summary contains 189 words. Saved 62%. I’m a bot and I’m open source!
fartington@lemm.ee 4 months ago
How long before it gets added to ‘killedbygoogle’?
ramble81@lemm.ee 4 months ago
Embrace, Extend, Extinguish
1rre@discuss.tchncs.de 4 months ago
That’s not even applicable here, and I thought we’d moved past spouting that on every post when it became apparent that meta actually weren’t trying to kill the fediverse
The whole point is developing products to an open source standard, adding unneeded or complex features to ensure competition can’t keep up and gain market share, then shutting down your product and killing the whole standard.
How does buying a company that makes proprietary products then closing down that company even come close to being the same thing?
1984@lemmy.today 4 months ago
I think it’s more likely that Google knows that they will be under attack by a lot of hackers once they show their true colors in the future. I think they will represent the tech that will control all of us, using AI, robotics, implants and so on.
Grangle1@lemm.ee 4 months ago
Even the privacy/security people I follow say that despite Big Tech (MS, Google, Apple, etc) being privacy nightmares, they are pretty solid on their security, or at least no less secure than the alternatives. But when you combine efforts to maintain that security with those privacy nightmares, you get what you mention.