Wiz Set to Break Acquisition Record with $23 Billion Deal
Deal News | Dec 04, 2024 | EIN
Israel continues to solidify its reputation as a hub for tech and innovation, drawing global attention for its prominent mergers and acquisitions. Among these are Intel's acquisition of MobileEye for $15.3 billion in 2017 and Google's planned $23 billion purchase of cybersecurity firm Wiz in 2024, which is poised to become Google's largest acquisition to date. Ness Digital Engineering, a company born from the merger of six Israeli IT firms in 1999, exemplifies Israel's strategy of growing local strengths into global enterprises. Ness's recent acquisition of RSL aims to enhance its services in the tech, media, and telecommunications sectors. This move aligns with Ness’s strategic growth plans even after its acquisition by KKR in 2022. KKR has been actively expanding in Israel's tech space, with notable acquisitions and investments including Userway and Guesty. These activities underline M&A's pivotal role in elevating Israel's tech ecosystem, as well as KKR's commitment to fostering innovation within its portfolio companies.
Sectors
- Technology
- Media and Telecommunications
- Private Equity and Venture Capital
Geography
- Israel – A key player in the global tech landscape known for its innovation and significant merger and acquisition activities.
- United States – Home to major investors in Israeli tech, such as KKR, and strategic expansion plans mentioned in the article.
Industry
- Technology – The acquisitions mentioned focus heavily on tech solutions including cybersecurity, digital accessibility, and metadata integration.
- Media and Telecommunications – Virgin Media's digital innovations highlight the dynamic changes in online consumer interactions.
- Private Equity and Venture Capital – KKR's active investments and acquisitions within Israel's tech landscape exemplify this sector.
Financials
- 23000000000 – Planned acquisition price for Wiz by Google, potentially the largest in Google's history.
- 15300000000 – Price for Intel's acquisition of MobileEye in 2017.
- 99000000 – Deal value for Level Access's acquisition of Userway.
- 130000000 – Investment KKR made in Israeli company Guesty.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Wiz | Target Company | Company | An Israeli cybersecurity company poised for acquisition by Google. |
| Ness Digital Engineering | Buying Company | Company | A tech company that has grown through strategic mergers and acquisitions. |
| RSL | Target Company | Company | Recently acquired by Ness to enhance its tech, media, and telecommunications services. |
| KKR | Private Equity Firm | Company | Private equity firm that acquired Ness and is actively investing in Israeli tech companies. |
| MobileEye | Acquired Company | Company | Previously acquired by Intel for $15.3 billion. |
| Bidding Company | Company | Tech giant planning to acquire Wiz. | |
| Userway | Acquired Company | Company | Acquired by KKR's Level Access for its AI-based website accessibility solutions. |
| Cloudera | Acquired Company | Company | Another KKR portfolio company that acquired Octopai. |
| Guesty | Invested Company | Company | Israeli property management software provider that received a $130 million investment from KKR. |