<p>在去年尝试收购 Wiz 失败后，<strong>Alphabet</strong>（GOOGL -0.65%）（GOOG -0.72%）达成了一项协议，收购这家快速增长的网络安全公司。它支付了 320 亿美元的高昂价格，较去年提出的 230 亿美元有所增加。它还将向 Wiz 员工支付 10 亿美元的留任奖金。</p>
<p>Wiz 去年因反垄断问题退出了交易，但预计在特朗普政府下会有更有利的环境。</p>
<p>在我看来，这笔交易对 Alphabet 来说是一个改变游戏规则的机会。让我们来看看原因。</p>
<h2>增加强大业务的组合</h2>
<p>收购 Wiz 为 Alphabet 增加了又一项强大的业务。虽然 Alphabet 以其 Google 搜索引擎而闻名，但实际上它拥有一系列市场领先和新兴的业务。它是全球领先的数字广告商，不仅为 Google 提供广告，还为其其他资产和第三方网站提供广告。</p>
<p>其 YouTube 流媒体服务是美国观看次数最多的流媒体平台，也是全球第四大数字广告平台。它拥有全球第三大云计算公司 Google Cloud，这是其增长最快的业务部门。它还在量子计算和自动驾驶等新兴技术领域占据领先地位，拥有 Waymo 部门。</p>
<p>Wiz 进一步丰富了 Alphabet 的领先科技业务组合，进一步突显了 Alphabet 远不止于搜索。此外，它还收购了一家在蓬勃发展的领域中快速增长的公司。</p>
<p>Wiz 是云检测和响应（CDR）安全领域的领导者，其云原生应用保护平台（CNAPP）利用人工智能（AI）快速扫描并识别云环境中的漏洞。其平台连接到每个云环境，涵盖云安全的各个方面。</p>
<p>它还在不断开发新产品，继续进行创新。过去一年推出的两个产品包括名为 Wiz Code 的代码到云安全解决方案，以及为安全运营团队提供的检测和响应解决方案 Wiz Defend。这应该会随着时间的推移，帮助公司在现有客户基础上增长，增加更多解决方案模块。</p>
<p>Wiz 的客户包括三大云计算公司——Google Cloud、<strong>Amazon</strong> 的 AWS 和 <strong>Microsoft</strong> 的 Azure，以及一半的财富 100 强企业。大型企业客户包括 <strong>摩根士丹利</strong>、<strong>宝马</strong> 和 <strong>LVMH</strong>。</p>
<p>收购后，Wiz 将继续与所有云计算公司合作。然而，拥有 Wiz 应该会大大提升 Alphabet 的 Google Cloud 部门。它将增强 Google Cloud 的安全产品，并有助于将其与竞争对手区分开来。同时，Alphabet 也能够将 Wiz 的产品销售给其庞大的 Google Cloud 客户基础。</p>
<p>Google Cloud 一直是 Alphabet 增长最快的部门，上个季度收入增长了 30%，部门营业收入飙升了 142%。考虑到 Wiz 作为云网络安全提供商的强大声誉，Wiz 只会增加其云产品的吸引力。网络安全威胁并没有减缓，随着云计算和人工智能的增长，这笔交易有助于使 Alphabet 脱颖而出。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTE2MTkvY3liZXJzZWN1cml0eS1wcm90ZWN0aW9uLWxvY2sta2V5LmpwZyZ3PTcwMA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="700" height="393" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTE2MTkvY3liZXJzZWN1cml0eS1wcm90ZWN0aW9uLWxvY2sta2V5LmpwZyZ3PTcwMA"/></p>
<p>图片来源：Getty Images。</p>
<h2>现在是买入股票的时候</h2>
<p>Wiz 交易，如果完成，将是 Alphabet 历史上最大的一笔交易。它支付了一个高昂的价格，预计约为 Wiz 2024 年 5 亿美元年经常性收入的 60 倍。然而，Wiz 拥有一个快速增长的强大平台，考虑到其庞大的 Google Cloud 客户基础，Alphabet 应该能够加速增长。</p>
<p>这笔交易还将使 Google Cloud 对潜在企业客户更具吸引力。这不仅有助于通过销售 Wiz 解决方案来促进增长，还能吸引新客户到 Google Cloud。</p>
<p>Alphabet 在过去的收购中表现非常出色，尤其是 2006 年以 16.5 亿美元收购 YouTube。当时，YouTube 是一家面临版权问题的无利可图的初创公司。这也是 Alphabet 关闭交易时最大的一笔收购。仅上个季度，YouTube 就产生了 105 亿美元的收入。</p>
<p>结合其早期收购的网络安全公司 Mandiant（领先的网络威胁情报公司），Alphabet 正在创建一个世界级的网络安全业务。这为公司增加了另一个增长杠杆。</p>
<p>考虑到其不断增长的顶级业务组合，Alphabet 的股票实在是太便宜了，交易的前瞻市盈率（P/E）低于 2025 年分析师预期的 18 倍。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/941e7f0a87c8d83f564b0441aefdd7a1.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="720" height="470" original-src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/941e7f0a87c8d83f564b0441aefdd7a1.png"/></p>
<p>GOOGL 前瞻市盈率（PE Ratio）数据来自 YCharts。</p>
<p>在当前水平下，Alphabet 看起来是一个很好的买入机会，一旦市场抛售的尘埃落定，投资者应该开始意识到公司所收集的极具价值的资产组合。Wiz 的收购只是增加了这些强大业务，并将在未来几年成为一个重要的增长驱动力。</p>

谷歌-A

谷歌-C

<p>谷歌已以 320 亿美元收购网络安全公司 Wiz，显著提高了其去年 230 亿美元的报价。这项收购增强了谷歌的投资组合，增加了在云安全领域的领导者，这在网络安全威胁日益增长的情况下至关重要。Wiz 的创新平台将增强谷歌云的产品，并吸引新的企业客户。预计该交易将很快完成，这标志着谷歌迄今为止最大的收购，并为公司在蓬勃发展的云和人工智能领域加速增长奠定了基础。分析师建议谷歌的股票被低估，成为强烈买入的选择</p>

<p>After trying and failing to acquire Wiz last year, <strong>Alphabet</strong>(GOOGL -0.65%)(GOOG -0.72%) has reached a deal to buy the fast-growing cybersecurity company. It is paying a steep price of $32 billion, up from the the $23 billion it offered last year. It will also pay Wiz employees $1 billion in retention bonuses.</p>
<div class="lb-trans"><p>在去年尝试收购 Wiz 失败后，<strong>Alphabet</strong>（GOOGL -0.65%）（GOOG -0.72%）达成了一项协议，收购这家快速增长的网络安全公司。它支付了 320 亿美元的高昂价格，较去年提出的 230 亿美元有所增加。它还将向 Wiz 员工支付 10 亿美元的留任奖金。</p>
</div><p>Wiz backed out of the deal last year over antitrust concerns, but expects a more favorable environment under the Trump administration.</p>
<div class="lb-trans"><p>Wiz 去年因反垄断问题退出了交易，但预计在特朗普政府下会有更有利的环境。</p>
</div><p>In my view, this deal looks like a game changer for Alphabet. Let's examine why.</p>
<div class="lb-trans"><p>在我看来，这笔交易对 Alphabet 来说是一个改变游戏规则的机会。让我们来看看原因。</p>
</div><h2>Adding to a collection of strong businesses</h2>
<div class="lb-trans"><h2>增加强大业务的组合</h2>
</div><p>The acquisition of Wiz adds yet another strong business to Alphabet. While best known for its Google search engine, Alphabet actually has a strong collection of market-leading and emerging businesses. It's the leading digital advertiser in the world, where it not only serves ads for Google, but for its other properties and third-party sites as well.</p>
<div class="lb-trans"><p>收购 Wiz 为 Alphabet 增加了又一项强大的业务。虽然 Alphabet 以其 Google 搜索引擎而闻名，但实际上它拥有一系列市场领先和新兴的业务。它是全球领先的数字广告商，不仅为 Google 提供广告，还为其其他资产和第三方网站提供广告。</p>
</div><p>Its YouTube streaming service is the most watched streaming platform in the U.S. and the fourth-largest digital advertising platform in the world. It owns the world's third-largest cloud computing company in Google Cloud, which has been its fastest-growing segment. It has also taken leading positions in emerging technologies such as quantum computing and autonomous driving with its Waymo unit.</p>
<div class="lb-trans"><p>其 YouTube 流媒体服务是美国观看次数最多的流媒体平台，也是全球第四大数字广告平台。它拥有全球第三大云计算公司 Google Cloud，这是其增长最快的业务部门。它还在量子计算和自动驾驶等新兴技术领域占据领先地位，拥有 Waymo 部门。</p>
</div><p>Wiz only adds to Alphabet's collection of leading tech businesses and further highlights that Alphabet is much more than search. In addition, it is purchasing a fast-growing company in a booming field.</p>
<div class="lb-trans"><p>Wiz 进一步丰富了 Alphabet 的领先科技业务组合，进一步突显了 Alphabet 远不止于搜索。此外，它还收购了一家在蓬勃发展的领域中快速增长的公司。</p>
</div><p>Wiz is a leader in cloud detection and response (CDR) security, where its Cloud Native Application Protection Platform (CNAPP) uses artificial intelligence (AI) to quickly scan and identify vulnerabilities across the cloud environment. Its platform connects to every cloud environment and covers every aspect of cloud security.</p>
<div class="lb-trans"><p>Wiz 是云检测和响应（CDR）安全领域的领导者，其云原生应用保护平台（CNAPP）利用人工智能（AI）快速扫描并识别云环境中的漏洞。其平台连接到每个云环境，涵盖云安全的各个方面。</p>
</div><p>It's also been developing new products as it continues to innovate. Two launched in the past year include a code-to-cloud security solution called Wiz Code, and a detection and response solution for SecOps (security operation) teams called Wiz Defend. This should help the company grow with its existing customer base over time as it adds more solution modules.</p>
<div class="lb-trans"><p>它还在不断开发新产品，继续进行创新。过去一年推出的两个产品包括名为 Wiz Code 的代码到云安全解决方案，以及为安全运营团队提供的检测和响应解决方案 Wiz Defend。这应该会随着时间的推移，帮助公司在现有客户基础上增长，增加更多解决方案模块。</p>
</div><p>Wiz counts the three biggest cloud computing companies -- Google Cloud, <strong>Amazon</strong>'s AWS, and <strong>Microsoft</strong>'s Azure -- among its customers, as well as half of the Fortune 100. Large enterprise customers include <strong>Morgan Stanley</strong>, <strong>BMW,</strong> and <strong>LVMH</strong>.</p>
<div class="lb-trans"><p>Wiz 的客户包括三大云计算公司——Google Cloud、<strong>Amazon</strong> 的 AWS 和 <strong>Microsoft</strong> 的 Azure，以及一半的财富 100 强企业。大型企业客户包括 <strong>摩根士丹利</strong>、<strong>宝马</strong> 和 <strong>LVMH</strong>。</p>
</div><p>Following the acquisition, Wiz will continue to partner with all cloud computing companies. However, owning Wiz should be a big boost to Alphabet's Google Cloud unit. It will strengthen Google Cloud's security offerings and should help differentiate it from the competition. Meanwhile, Alphabet will be able to sell Wiz's products into its large base of Google Cloud customers, as well.</p>
<div class="lb-trans"><p>收购后，Wiz 将继续与所有云计算公司合作。然而，拥有 Wiz 应该会大大提升 Alphabet 的 Google Cloud 部门。它将增强 Google Cloud 的安全产品，并有助于将其与竞争对手区分开来。同时，Alphabet 也能够将 Wiz 的产品销售给其庞大的 Google Cloud 客户基础。</p>
</div><p>Google Cloud has been Alphabet's fastest-growing segment, with revenue climbing 30% last quarter and segment operating income soaring 142%. Wiz should only increase the attractiveness of its cloud offering, given its strong reputation as a cloud cybersecurity provider. Cybersecurity threats are not slowing, and with the growth of cloud computing and AI, this deal helps set Alphabet apart.</p>
<div class="lb-trans"><p>Google Cloud 一直是 Alphabet 增长最快的部门，上个季度收入增长了 30%，部门营业收入飙升了 142%。考虑到 Wiz 作为云网络安全提供商的强大声誉，Wiz 只会增加其云产品的吸引力。网络安全威胁并没有减缓，随着云计算和人工智能的增长，这笔交易有助于使 Alphabet 脱颖而出。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTE2MTkvY3liZXJzZWN1cml0eS1wcm90ZWN0aW9uLWxvY2sta2V5LmpwZyZ3PTcwMA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F811619%2Fcybersecurity-protection-lock-key.jpg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>图片来源：Getty Images。</p>
</div><h2>Time to buy the stock</h2>
<div class="lb-trans"><h2>现在是买入股票的时候</h2>
</div><p>The Wiz deal, assuming it closes, will be the largest in Alphabet's history. It's paying a hefty price tag believed to be around 60 times Wiz's 2024 annual recurring revenue of $500 million in 2024. However, Wiz has a very strong platform that is growing quickly, and Alphabet should be able to accelerate growth given its large installed Google Cloud customer base.</p>
<div class="lb-trans"><p>Wiz 交易，如果完成，将是 Alphabet 历史上最大的一笔交易。它支付了一个高昂的价格，预计约为 Wiz 2024 年 5 亿美元年经常性收入的 60 倍。然而，Wiz 拥有一个快速增长的强大平台，考虑到其庞大的 Google Cloud 客户基础，Alphabet 应该能够加速增长。</p>
</div><p>The deal should also help make Google Cloud more attractive to potential enterprise customers. This could help bolster growth not just from selling Wiz solutions, but from attracting new customers to Google Cloud.</p>
<div class="lb-trans"><p>这笔交易还将使 Google Cloud 对潜在企业客户更具吸引力。这不仅有助于通过销售 Wiz 解决方案来促进增长，还能吸引新客户到 Google Cloud。</p>
</div><p>Alphabet has done very well with acquisitions in the past, most notably with YouTube, which it acquired in 2006 for $1.65 billion. At the time, YouTube was an unprofitable start-up facing copyright concerns. It was also Alphabet's largest-ever acquisition when the deal closed. Last quarter alone, YouTube generated $10.5 billion in revenue.</p>
<div class="lb-trans"><p>Alphabet 在过去的收购中表现非常出色，尤其是 2006 年以 16.5 亿美元收购 YouTube。当时，YouTube 是一家面临版权问题的无利可图的初创公司。这也是 Alphabet 关闭交易时最大的一笔收购。仅上个季度，YouTube 就产生了 105 亿美元的收入。</p>
</div><p>Together with its early acquisition of cybersecurity company Mandiant, a leading cyber threat intelligence company, Alphabet is creating a world-class cybersecurity business. This just adds another growth lever to the company.</p>
<div class="lb-trans"><p>结合其早期收购的网络安全公司 Mandiant（领先的网络威胁情报公司），Alphabet 正在创建一个世界级的网络安全业务。这为公司增加了另一个增长杠杆。</p>
</div><p>Given its growing array of top-notch businesses, Alphabet's stock is just way too cheap, trading at a forward price-to-earnings (P/E) ratio of under 18 times 2025 analysts' estimates.</p>
<div class="lb-trans"><p>考虑到其不断增长的顶级业务组合，Alphabet 的股票实在是太便宜了，交易的前瞻市盈率（P/E）低于 2025 年分析师预期的 18 倍。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/941e7f0a87c8d83f564b0441aefdd7a1.png" alt="" original-src="https://media.ycharts.com/charts/941e7f0a87c8d83f564b0441aefdd7a1.png"/></p>
<p>GOOGL PE Ratio (Forward) data by YCharts.</p>
<div class="lb-trans"><p>GOOGL 前瞻市盈率（PE Ratio）数据来自 YCharts。</p>
</div><p>Alphabet looks like a great buy at current levels, and once the dust from the market sell-off clears, investors should start to realize the extremely valuable set of assets the company has collected. The Wiz acquisition just adds to these strong businesses and should be a big growth driver in the years ahead.</p>
<div class="lb-trans"><p>在当前水平下，Alphabet 看起来是一个很好的买入机会，一旦市场抛售的尘埃落定，投资者应该开始意识到公司所收集的极具价值的资产组合。Wiz 的收购只是增加了这些强大业务，并将在未来几年成为一个重要的增长驱动力。</p>
</div>

Prediction: Wiz Will Be a Game-Changing Acquisition for Alphabet

- Alphabet 达成以 320 亿美元收购网络安全公司 Wiz 的协议。  
- 此次收购将增强 Google Cloud 的安全产品，提升市场竞争力。  
- Wiz 的强大平台和客户基础将助力 Alphabet 加速增长。  

预测：Wiz 将成为 Alphabet 的改变游戏规则的收购