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EU to Decide on Google's $32B Wiz Acquisition by Feb 10
8 Jan
Summary
- EU antitrust regulators set a February 10 decision deadline.
- Alphabet's $32 billion acquisition of Wiz is its largest ever.
- The deal secured U.S. approval in November last year.
European Union antitrust authorities are on track to render a decision regarding Alphabet's substantial $32 billion acquisition of cybersecurity company Wiz by February 10. This significant transaction represents the largest acquisition ever undertaken by Alphabet, underscoring its strategic focus on enhancing its cybersecurity capabilities.
The tech giant announced the deal in March of last year, signaling a move to strengthen its position in the competitive cloud-computing market, particularly against rivals such as Amazon.com and Microsoft. In recent years, major technology deals have been subjected to intense regulatory examination due to concerns that dominant companies might consolidate their market power.
The European Commission, acting as the EU's competition watchdog, has the option to approve the deal during its initial review, potentially with conditions, or to initiate a comprehensive investigation if serious antitrust issues are identified. Notably, the acquisition received the necessary approval from the United States in November of the preceding year.
