European Union antitrust enforcers will decide by February 10 whether to approve Alphabet's (NASDAQ:GOOGL) $32 billion acquisition of cybersecurity startup Wiz.
The transaction, which represents the largest-ever purchase for Google’s parent company, is currently under preliminary review by the European Commission.
Alphabet announced the all-cash deal in March 2025 as a strategic move to "turbocharge" its Google Cloud division.
By integrating Wiz’s agentless cloud security technology, Google aims to close the market share gap with industry leaders Amazon Web Services (AWS) and Microsoft Azure.
Wiz, which achieved a $700 million annual recurring revenue (ARR) run rate last year, provides a unified platform for detecting risks across multiple cloud environments.
The European Commission now faces a choice: it can clear the deal unconditionally, demand specific concessions to preserve competition, or launch a four-month "Phase II" in-depth investigation if it finds significant evidence of market distortion.
A primary concern for regulators is "bundling"—whether Google might eventually lock Wiz’s tools exclusively into its own cloud ecosystem, despite public promises to maintain its multi-cloud compatibility.
The deal cleared a major hurdle in November 2025, when the U.S. Department of Justice (DOJ) granted an early termination of its antitrust review.
However, the EU has recently taken a more aggressive stance on "killer acquisitions"—deals where dominant platforms buy emerging rivals to consolidate power.
If approved, the acquisition is expected to officially close in early 2026.
If blocked, Alphabet could be liable for a $3.2 billion breakup fee, representing 10% of the total deal value.