Google owner Alphabet will spend $32 billion in cash for cybersecurity startup Wiz

Alphabet said on Tuesday it would buy Wiz for $32 billion in its biggest deal as the Google parent doubles down on cybersecurity to sharpen its edge in the cloud-computing race against Amazon.com and Microsoft.

The all-cash deal is set to boost Alphabet’s profile in the cloud computing market, a space currently led by Amazon and Microsoft. Once the transaction is closed, the company says Wiz will join Google Cloud.