Google’s parent company Alphabet is considering acquiring a cybersecurity startup for $23 billion.

Google parent Alphabet is in advanced talks to acquire cybersecurity startup Wiz in a deal valued at $23 billion. If the deal goes through, it would be Alphabet’s biggest acquisition to date, a source told Reuters.

The source, speaking on condition of anonymity, told Reuters that the deal could potentially be financed mostly in cash and could materialize soon. The cybersecurity startup was founded in Israel and is now headquartered in New York. Wiz has quickly become one of the fastest-growing software startups in the world, offering cloud-based cybersecurity solutions with real-time threat detection and response powered by artificial intelligence.

If the deal goes through, it would be a notable exception to the recent trend of U.S. regulators restricting the expansion of large tech companies through acquisitions. Wiz, which boasts an impressive client list that includes 40 percent of the Fortune 100, has already secured a whopping $1 billion in private funding, valuing the company at $12 billion. With a global workforce of 900 and plans to hire another 400, Wiz is a force to be reckoned with in the cloud security space. While neither Alphabet nor Wiz have confirmed the deal, it’s clear the tech industry is heating up with mergers and acquisitions, according to Reuters. Alphabet recently dropped its plan to acquire online marketing software company HubSpot.

Cybersecurity is the need of the hour

As the world becomes a global digital village, it is now more necessary than ever to invest in cybersecurity. Multi-million dollar companies are investing heavily in cybersecurity to protect their confidential data from being disseminated.

India is a growing market for cyber startups as well as cyber giants to sink their teeth into. The cost of cybersecurity tools varies depending on their complexity and the level of protection they offer. On an average, organizations in India can spend anywhere between INR 50,000 to INR 5,00,000 per year on security software and tools.

As cyber threats increase, companies are seeing a critical need for talented cybersecurity experts to secure their businesses. This increased demand has resulted in an increase in salaries, making cybersecurity a significant investment for organizations. However, many are finding cost-effective solutions by partnering with managed security service providers (MSSPs). According to Anjali K, a cybersecurity analyst, in India, the average annual salary for a cybersecurity professional ranges from Rs 6 lakh to Rs 15 lakh, while MSSPs offer a more affordable option, costing between Rs 3 lakh and Rs 10 lakh per year.