Alphabet Shares Jump as Google Wins DOJ Approval for $32B Wiz Acquisition

Israel-based cloud security company Wiz has cleared a U.S. Justice Department antitrust review of its acquisition by Google-parent Alphabet, Wiz CEO said in a Wall Street Journal event on Tuesday.

The deal, valued at about $32 billion, would be Alphabet's largest acquisition.

Alphabet shares jumped more than 2% in morning trading.

"Definitely, this is an important milestone, but we’re still in the journey between signing and closing," Wiz CEO Assaf Rappaport said when asked about the DOJ review of the deal.

Bloomberg News reported earlier this year that the DOJ antitrust enforcers were reviewing whether Alphabet's planned acquisition of the cybersecurity firm would illegally limit competition in the marketplace.