EU clears Google's $32 billion bid for Wiz cybersecurity company
The EU on Tuesday unconditionally approved Google's $32 billion bid for cloud security platform Wiz after finding it raised no competition concerns in Europe.
Google announced the all-cash deal last year, as it seeks to beef up its cloud computing business for the AI era.
It is the largest ever transaction sought by Google or parent Alphabet.
"Google stands behind Amazon and Microsoft in terms of market shares in cloud infrastructure, and our assessment confirmed that customers will continue to have credible alternatives and the ability to switch providers," EU antitrust chief Teresa Ribera said in a statement.
"The transaction therefore does not raise competition concerns in cloud services or cloud security in the European Economic Area", made up of the bloc's 27 states, Iceland, Liechtenstein and Norway, Ribera added.
Started in 2020 by the Israeli-born Assaf Rappaport and a team who sold a previous venture to Microsoft, Wiz is based in the United States.
The European Commission in November launched probes to assess the market power of Amazon and Microsoft cloud services, but not into Google.
At the time, Brussels said Google played a smaller role in the EU market.
Google announced the all-cash deal last year, as it seeks to beef up its cloud computing business for the AI era.
It is the largest ever transaction sought by Google or parent Alphabet.
"Google stands behind Amazon and Microsoft in terms of market shares in cloud infrastructure, and our assessment confirmed that customers will continue to have credible alternatives and the ability to switch providers," EU antitrust chief Teresa Ribera said in a statement.
"The transaction therefore does not raise competition concerns in cloud services or cloud security in the European Economic Area", made up of the bloc's 27 states, Iceland, Liechtenstein and Norway, Ribera added.
Started in 2020 by the Israeli-born Assaf Rappaport and a team who sold a previous venture to Microsoft, Wiz is based in the United States.
The European Commission in November launched probes to assess the market power of Amazon and Microsoft cloud services, but not into Google.
At the time, Brussels said Google played a smaller role in the EU market.
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