Alphabet, Google’s (GOOGL) parent company, is in advanced talks to acquire Wiz, a well-established cloud security firm. On Sunday, a popular outlet reported that a source mentioned the matter to them.

Later, other outlets, including CWEB, also learned from different sources that the Mountain View, California-based tech giant could acquire the Israeli-based cloud security startup for $23 billion.

On Sunday, the Wall Street Journal reported that people familiar with the matter had told them about the possible acquisition and that the two companies could strike a deal soon. However, neither Alphabet nor Wiz has responded when asked for comment.

Google could benefit from the deal as it ramps up its cloud business. The tech giant has seen profitability in its cloud services these past years but is behind Amazon Web Services (AWS) and Microsoft’s Azure in cloud revenue.

It has been looking to close the gap between Google Cloud and Azure, and this acquisition could quicken the process.

Google is facing antitrust scrutiny by the Justice Department in two different cases, which might explain why the talks have not yet been translated into a deal.

Earlier, CWEB and other outlets reported that Google was in talks with Hubspot. However, the deal with the sales software maker has not yet been finalized.

Wiz was founded in 2020. It has rapidly grown under CEO Assaf Rappaport. There were reports in May that the cloud security firm was looking at a public offering when it reached a $12 billion value. It is backed by venture firms such as Cyberstarts, Sequoia Capital, and other blue-chip companies.

If it can pass regulatory scrutiny, Google’s acquisition of Wiz will be good for the company. Google will also gain, as Wiz’s cloud security to firms might get them to migrate to large cloud companies such as Google, which is looking to expand its overall cloud offerings.

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