Google is making the biggest acquisition in its history. The company's parent company Alphabet is buying Wiz, the cloud security startup, for $32 billion

Google’s agreement to buy cloud security startup Wiz will face antitrust scrutiny amid Alphabet’s ongoing legal battles.

Google on Tuesday signed a "definitive agreement" to acquire New York-based cloud security startup Wiz for $32 billion in an all-cash deal. In July, CNBC reported that Wiz walked away from a potential $23 billion acquisition by Google and announced to employees that it would pursue an IPO instead.

Google’s $32 billion bet is that the opportunity here is far bigger than any of these concerns — Wiz could put Google’s services on the map at a turning point for cloud computing and AI.

Google plans to acquire cybersecurity company Wiz for $32 billion in what would be the search giant’s largest-ever acquisition.