Google parent Alphabet Inc. agreed to acquire cybersecurity firm Wiz Inc. for $32 billion in cash, reaching a deal less than a year after initial negotiations fell apart because the cloud-computing startup wanted to stay independent. Wiz will join the Google Cloud business once the deal closes, the companies said in a statement on Tuesday. The takeover is subject to regulatory approvals and is likely to close next year, they said. The deal, which would be Alphabet’s largest to date, comes after Wiz turned down a $23 billion bid from the internet search leader last year after several months of discussions. At the time, Wiz walked away after deciding it could ultimately be worth more by pursuing an initial public offering company. Concerns about regulatory challenges also influenced the decision. Buying Wiz provides Google’s cloud-computing business with new security products to offer customers as it works to catch up with Microsoft Corp. and Amazon.com Inc., its larger rivals in the fast-growing, competitive market. Wiz offers cloud-specific cybersecurity tools that work on all platforms, identifying and prioritizing threats across organizations’ often-complex cloud environments.

Full report : Google says Wiz will join Google Cloud and that Wiz’s products will continue to work “across all major clouds”, including AWS, Microsoft Azure, and Oracle Cloud.