The chief executive of cloud security company Wiz, which is reportedly in advanced acquisition talks with Googleparent Alphabet, weighed in on Monday about the consolidation he predicted is coming to the cybersecurity market.

While he declined to comment on whether his own company was in talks with Alphabet over a reported potential $23 billion acquisition, Assaf Rappaport, Wiz CEO and cofounder, said that the industry was fragmented and that M&A was only just starting to ramp up.

The Wall Street Journal reported on Sunday that Alphabet’s Google Cloud business was in “advanced talks” to acquire the New York Citybased cybersecurity startup for approximately $23 billion. Should the deal go through, it would be Alphabet’s largest acquisition ever, and would be one of just a few major M&A deals since 2022, when the change in interest rates shook up the market and the market for initial public offerings shrank significantly.

#google #wiz #cybersecurity #stockmarket #startup

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