Alphabet edges down on Google's deal to buy Wiz for $32 billion

Google-parent Alphabet's GOOGL.O shares edge down 0.2% at $163.99 premarket

GOOGL to buy Wiz for $32 billion in its biggest deal, as the search engine giant aims to sharpen its edge in the cloud-computing race against Amazon AMZN.O and Microsoft MSFT.O

Co expects the deal to close in 2026

The price tag is much higher than the roughly $23 billion Google had offered for Wiz last year before antitrust worries forced the startup to shelve the deal

One of the fastest-growing software startups, Wiz offers cloud-based cybersecurity solutions

Up to last close, GOOGL shares have risen ~16% over the past 12 months