Google has confirmed its largest acquisition to date, purchasing cloud security startup Wiz for $32 billion in an all-cash transaction.
Parent company Alphabet announced the deal, which is expected to strengthen Google Cloud’s cybersecurity capabilities and bolster its enterprise cloud business.
Industry insiders previously estimated the acquisition at $33 billion, including $1 billion in retention bonuses to secure Wiz employees post-acquisition. With 1,700 employees at Wiz, the bonuses amount to an average of over $588,000 per person, though actual amounts will vary.