☰
Alphabet said the proposed Wiz acquisition would improve and scale Google Cloud’s solutions, benefiting customers and partners worldwide.
Alphabet, Inc. (GOOGL) (GOOG) confirmed last week its intention to buy cloud security platform Wiz in an all-cash deal valued at $32 billion, and the big-ticket buy has been endorsed as a ‘great deal’ by a majority of retailers,
If the Wiz deal goes through, it would be Alphabet’s biggest-ever buy in terms of price tag. Once the deal is consummated, Wiz will be integrated into the Google Cloud business.
Alphabet said the proposed acquisition would improve and scale Google Cloud’s solutions, benefiting customers and partners worldwide.
A Stocktwits poll that collected responses from over 1,000 users showed that 59% of the respondents said the deal was a “great one” and a “smart move,” potentially helping the Google parent boost its cloud and AI security businesses.
A little over one-fourth (26%) said they were neutral on the deal and that its success depends on execution. On the other hand, 15% called it a “bad deal,” adding that Alphabet has overpaid and may not benefit from it.
A user said the Wiz deal will prove to be a clever transaction in two to three years.
Another user said Wiz is very powerful and its solutions are a must for any company that is online.
According to The Fly, sell-side analysts are optimistic about the deal. BofA Securities analysts said it might invite regulatory scrutiny. The analysts believe that if approved, the deal will help Google Cloud gain market share.
Roth MKM analysts said the deal represented a significant event for Alphabet ahead of potentially rising competition in the artificial intelligence (AI) cloud market.
JPMorgan analyst Doug Anmuth said Wiz will help enhance Google’s existing cybersecurity offerings. The analyst also believes that the acquisition will further strengthen Google's multi-cloud value proposition and deepen its enterprise relationships as Wiz is used by over 50% of the Fortune 100 companies.
Alphabet stock ended Friday’s session up 0.73% at $163.99 but it is down over 13% for the year-to-date period.
For updates and corrections, email newsroom[at]stocktwits[dot]com.<
subscribe to Asianet Newsable WhatsApp channel by clicking here.