Google has announced its largest acquisition to date, purchasing cloud security company Wiz for $32 billion in an all-cash deal. This strategic move aims to enhance two growing trends in the AI era: improved cloud security and multicloud capabilities.

“This acquisition represents an investment by Google Cloud to accelerate two large and growing trends in the AI era: improved cloud security and the ability to use multiple clouds,” Google stated. The company intends to provide customers with a comprehensive security platform designed for modern IT environments.

Google Cloud CEO Thomas Kurian emphasized that combining Google’s cloud offerings with Wiz will “spur the adoption of multicloud cybersecurity, the use of multicloud, and competition and growth in cloud computing.”

Despite the acquisition, Wiz CEO Assaf Rappaport confirmed that the company will maintain its independence as a multicloud platform and continue working with other cloud providers including AWS, Azure, and Oracle.

This deal follows Google’s previous security acquisitions, including Mandiant ($5.4 billion in 2021), VirusTotal (2012), and Siemplify (2022). Notably, Google had previously attempted to acquire Wiz for a reported $23 billion seven months ago.

The acquisition remains subject to regulatory approvals.