According to The New York Times, Google is close to acquiring Wiz for an estimated $23 billion, the most expensive ever, to improve its ability to serve business customers.

Founded in March 2020, Wiz is a startup that provides security solutions for businesses using cloud storage services, such as from Amazon Web Services.

Google is negotiating a record deal to acquire Wiz amid intense regulatory scrutiny

While the deal is likely to go through, talks could still fall apart at the last minute. Google and Wiz declined to comment on the report.

In less than a year, Wiz's valuation reached $1.7 billion and it quickly received investments from companies including Salesforce, Blackstone, and Algae — making it one of the fastest-growing startups at the time.

Alphabet's talks to acquire Wiz come as the Biden administration is closely monitoring the expansion of tech companies.

Google is currently facing two antitrust lawsuits from the US Department of Justice, one targeting its popular search engine and the other seeking to spin off its digital advertising technology business. A ruling on the search case is expected this summer.