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

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.