Google has received unconditional approval from the European Union for its $32 billion all-cash deal to acquire cloud security service provider Wiz.
The EU’s competition regulator, the European Commission, announced the decision on Thursday after conducting a thorough review of the acquisition. According to the commission, Google’s purchase of Wiz would not significantly harm competition in the cloud computing market.
However, the regulator did express concerns that Google might use its control over Wiz to limit the growth of new entrants in the cloud security space, potentially stifling innovation and increasing prices for consumers. In response, Google offered a number of concessions, including commitments to ensure Wiz’s services remain available on competing platforms.
Wiz provides an array of cybersecurity services, including threat detection, incident response, and data loss prevention. The company has gained significant traction among large enterprises and government agencies looking for robust security solutions.
The acquisition is the latest in a series of major deals by Google, which has been aggressively expanding its cloud computing business in recent years. With Wiz on board, Google’s portfolio would expand to include a range of cloud-based security services.
Google’s $32 billion offer represents one of the largest acquisitions in the company’s history and is subject to regulatory approval in other jurisdictions. If approved, the deal would mark a significant milestone for the tech giant’s expansion into the cybersecurity sector.
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