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 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 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.