Loren Torres brings you the biggest news of the day, including why Forever 21 is closing all U.S. locations.
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00:00Google parent Alphabet just made its largest acquisition ever.
00:03The company has agreed to buy cybersecurity firm Wiz for $32 billion.
00:08Alphabet will now own Wiz's AI-powered cybersecurity software for cloud computing.
00:13The move bolsters Alphabet's ability to compete with the likes of Microsoft and Amazon in
00:17the cloud computing space.
00:19Alphabet had previously been close to acquiring Wiz for $23 billion in the summer of 2024,
00:24but the deal fell apart over regulatory concerns.
00:27The acquisition is expected to close in 2026.
00:30Of the new deal, Wiz CEO Asaf Rappaport said,
00:33Becoming part of Google Cloud is effectively strapping a rocket to our backs.
00:37It will accelerate our rate of innovation faster than what we could achieve as a standalone
00:41company.
00:42That'll do it for your daily briefing.
00:43From New York City, I'm Lauren Torres with The Street.