Alphabet will buy fast-growing startup Wiz for about $32 billion in its biggest deal ever, the Google parent said Tuesday, as it doubles down on cybersecurity to sharpen its edge in the cloud-computing race against Amazon.

The companies didn’t disclose Wiz’s revenue in disclosing the deal and Alphabet didn’t respond to a request for information about that figure. But multiple media outlets have reported that Wiz had $500 million of annual recurring revenue at one point during 2024 and aimed to reach $1 billion in 2025.

KEY TAKEAWAYS Google parent Alphabet has struck a deal to buy cybersecurity startup Wiz for $32 billion in an all-cash transaction, the tech giant’s largest acquisition ever. Wiz will join Google's cloud business if the deal is approved by regulators.