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 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 parent Alphabet said Tuesday that it had agreed to buy cybersecurity company Wiz for $32 billion in cash, marking the tech company’s largest purchase to date. The acquisition combines Wiz’s security platform with Google’s cloud infrastructure.