Alphabet Inc. announced Tuesday it has agreed to acquire cloud security startup Wiz for $32 billion in an all-cash deal, marking the largest acquisition in the company's history. The transaction underscores Google's aggressive push to strengthen its cloud-computing business and sharpen its competitive edge against Amazon Web Services and Microsoft Azure.

The definitive agreement, confirmed by both companies, comes less than a year after Google's prior attempt to buy Wiz collapsed. Talks last summer reportedly fell apart over antitrust concerns and investor hesitations. That offer, pegged at around $23 billion, was ultimately rejected by the New York-based startup, which at the time signaled plans to pursue an initial public offering and a goal of hitting $1 billion in annual recurring revenue.

"Google Cloud is a leader in cloud infrastructure, with deep AI expertise and a track record of industry-leading security innovation," the company said in a statement. "Bringing all this to Wiz will help make their solutions even better and more scalable, benefiting customers and partners across all major clouds."

Founded in 2020 by Israeli entrepreneurs Assaf Rappaport, Ami Luttwak, and Yinon Costica, Wiz quickly rose to prominence within the cybersecurity sector. The company reached $100 million in annual recurring revenue within 18 months of its inception and attracted a customer base that includes Morgan Stanley, BMW, and LVMH. Its cloud security products provide prevention, active detection, and real-time threat response, appealing to enterprises increasingly concerned about vulnerabilities amid the rise of generative AI services.

"Becoming part of Google Cloud is effectively strapping a rocket to our backs: it will accelerate our rate of innovation faster than what we could achieve as a standalone company," Rappaport said in a blog post Tuesday.

The acquisition will integrate Wiz into Google's cloud division, complementing Alphabet's broader cybersecurity strategy. In 2022, Google acquired cybersecurity firm Mandiant for $5.4 billion, outmaneuvering Microsoft in that bid.

Wiz's solutions will continue to operate across other major cloud platforms, including Amazon Web Services, Microsoft Azure, and Oracle Cloud, the companies confirmed. Google expects the deal to close in 2026, pending regulatory approval.

The acquisition also arrives during a period of shifting regulatory dynamics. A more stringent antitrust environment under the Biden administration had previously complicated large-scale mergers. However, optimism on Wall Street suggests that President Donald Trump's administration may ease some of those constraints. Alphabet, though, is still entangled in a high-profile antitrust case regarding its search engine dominance.