(Bloomberg) — Google parent Alphabet Inc. is in advanced talks to buy cybersecurity startup Wiz in a deal that could fetch $23 billion, the Wall Street Journal reported, citing people with knowledge of the matter.

The deal would be Alphabet’s largest acquisition ever and could come together “soon,” the newspaper said. 

A purchase of Wiz could help boost Alphabet’s efforts in cloud computing, an area in which it’s lagged competitors, the WSJ said. The deal would follow on its $5.4 billion purchase of fellow cybersecurity firm Mandiant Inc. in 2022, which was at the time one of its largest acquisitions ever. 

Alphabet didn’t immediately respond to a request for comment outside regular office hours. 

New York-based Wiz was valued at $12 billion during a May funding round that drew investors such as Andreessen Horowitz, Lightspeed Venture Partners and Thrive Capital. The company, which was founded in 2020, identifies and removes risks in cloud environments.

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