[ad_1]
Google is in advanced talks to acquire cybersecurity company Waze for $23 billion, The Wall Street Journal reported Sunday.
If the deal goes through, it would be Google’s largest acquisition ever and confirms its clear and ongoing bet on cybersecurity at a time when criminals are able to disrupt governments and large organizations.
Waze’s cloud security product gives executives and cybersecurity professionals access to the company’s full cloud services, which is attractive to large companies with extensive computing resources.
It is backed by a range of major firms including Cyber Starts, Index Ventures, Insight Partners and Sequoia Capital.
Founded in 2020, Waze has grown rapidly under the leadership of CEO Assaf Rappaport, reaching a valuation of $12 billion in May last year and had considered an initial public offering.
Google has made major electronics acquisitions before, including its $5.4 billion purchase of Mandiant Cybersecurity two years ago, but the company is now facing unprecedented antitrust scrutiny over its acquisitions, with its latest lawsuit being highlighted in a 2023 lawsuit filed against the company.
The current conversations with Waze suggest that the company is showing new interest in M&A despite competition concerns.
[ad_2]
Source link
