Alphabet Inc. is in talks to purchase cloud-security company Wiz Inc. for $33 billion, restarting discussions that were called off last summer after extended negotiations, according to people familiar with the matter.

KEY TAKEAWAYS Google parent Alphabet has struck a deal to buy cybersecurity startup Wiz for $32 billion in an all-cash transaction, the tech giant’s largest acquisition ever. Wiz will join Google's cloud business if the deal is approved by regulators.