Google is reportedly in advanced negotiations to acquire cybersecurity startup Wiz for $23 billion, marking its largest deal to date.

Google is reportedly in advanced discussions to acquire the cybersecurity firm Wiz for $23 billion, according to The Wall Street Journal, citing sources familiar with the matter. These sources indicated that an agreement could be reached soon.

Founded in 2020 and led by CEO Assaf Rappaport, Wiz has rapidly grown and was considering an IPO as recently as May, achieving a valuation of $12 billion. A Wiz representative declined to comment on the matter.

Wiz provides a cloud security platform that offers executives and cybersecurity professionals comprehensive insight into a company’s entire cloud infrastructure, making it attractive to large firms with substantial computing resources.

The company is supported by prominent investors, including Israeli VC firm Cyberstarts, Index Ventures, Insight Partners, and Sequoia Capital.

If finalized, this acquisition would be Google’s largest to date, emphasizing the company’s strong focus on cybersecurity amid increasing threats from nation-states and criminal actors targeting governments and large organizations.

Previously, Google acquired the cybersecurity firm Mandiant for $5.4 billion two years ago.

However, Google currently faces significant antitrust scrutiny, with the Justice Department having filed two antitrust lawsuits against the company, including one in 2023 that highlighted Google’s acquisition practices.

Despite these challenges, the talks with Wiz suggest Google is still keen on mergers and acquisitions. Previously, Google was in talks to acquire sales software maker Hubspot, as reported by CNBC, but those discussions reportedly cooled.

Google did not immediately respond to a request for comment.