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.

Here’s my take on Google’s $32 billion bet on cloud security with their offer to acquire Wiz. I think they just redefined the game. Google Cloud just leveled up vs. AWS & Azure: Security was Google’s weak spot in cloud offerings.

Alphabet will buy fast-growing startup Wiz for about $32 billion in its biggest deal ever, the Google parent said Tuesday, as it doubles down on cybersecurity to sharpen its edge in the cloud-computing race against Amazon.