Google has secured clearance from the Department of Justice to pursue its acquisition of cloud security company Wiz for approximately $32 billion, The Wall Street Journal reported Wednesday.
DOJ recently indicated in a public document that it will conclude its investigation early, meaning it does not plan to challenge the merger.
Wiz CEO on Clearing Regulatory Hurdle With DOJ
Speaking about the development at WSJ Tech Live, Wiz CEO Assaf Rappaport expressed optimism while remaining cautious about the remaining regulatory steps.
“I’m not allowed to talk a lot about the regulators,” Rappaport stated at the event. “Of course, the DOJ is one of the most important [regulators], as both Wiz and Google are U.S. companies with main markets in the U.S., so definitely, this is an important milestone, but we’re still in the journey between signing and closing.”
Rappaport noted that regulators are conducting a comprehensive review, taking a deep view at the indusattempt to gain a better understanding, while also relocating swiftly in their decision-building, a balance that he stated supports businesses continue to thrive.
A spokesperson for Google stated the acquisition would expand access to cloud security platforms, providing governments and businesses with more options for protecting themselves.
“We view forward to completing the review process in other jurisdictions. The acquisition of Wiz is expected to close in 2026, subject to customary closing conditions,” the spokesperson added.
Google-Wiz Deal
In March, Google agreed to acquire Wiz in an all-cash transaction worth $32 billion. Upon the deal’s closing, Wiz will become part of Google Cloud.
Google stated the proposed transaction reflects the company’s investment in efforts to achieve improved cloud security and enhance the ability to apply multicloud platforms — two major trconcludes in the era of artificial innotifyigence.
Sponsor
You’ve already read all related articles.
Leave a Reply