Wiz to boost Google Cloud business if deal approved, says BofA

After Alphabet (GOOG) (GOOGL) announced yesterday that it agreed to acquire cybersecurity startup Wiz for $32B in cash, BofA said that while such an acquisition would face regulatory scrutiny, as the number three cloud services provider with less than 15% total market share, it views Google having a stronger case compared to consumer-focused acquisitions. If approved, this deal underscores the importance Google places on cloud security offerings could help Google Cloud gain share with a strong solution, adds the analyst, who keeps a Buy rating and $225 price target on shares of Google parent Alphabet.