Google is making the biggest acquisition in its history. The companys parent company Alphabet is acquiring Wiz, the cloud security startup, for between $32 billion and $33 billion, sources very close to the deal have told me. The deal should be announced imminently.Our sources confirm that Wiz will remain an independent platform that will work across all cloud providers, not just Google Cloud Platform. There will be more hiring to expand the business and likely more acquisitions, which is something Wiz has been working to do for the last year. Our sources also said that Wiz is at $700 million in annual recurring revenue at the moment. The deal is being described to us as akin to the one between LinkedIn and Microsoft, in terms of autonomy within the bigger organization. (It should be noted that LinkedIn does use a lot of Microsoft services, and has increased that over time, so perhaps thats a more meaningful analogy than was intended.)The deal will still need regulatory and other approvals before closing. From what we can see, Google and Wiz have yet to confirm anything official. Other outlets are also reporting the deal is done. Previously, Googles biggest acquisition had been buying Motorola Mobility for $12.5 billion in 2011. This acquisition has been on-again off-again for nearly part of a year and appeared to revive again this week at a $30 billion price tag. Thomas Kurian the CEO of Google Cloud is in Europe at the moment, and Assaf Rappaort, the CEO of New York-based Wiz, is currently in Israel. From what we understand, Kurian has been leading on this deal, and Wiz would come under his wing spearheading a major push into cloud security for the company.Last year, Google offered to buy Wiz for $23 billion, but the talks fell apart, sources say over concerns about antitrust issues, Wizs autonomy for development under Google Cloud and potentially even the price tag. At the time of the deal talks, Wiz was valued at $12 billion based on a $1 billion funding round earlier in the year. In the interim, there is now a new U.S. President and some believe the new regulatory regime will usher in a more favorable climate for big tech acquisitions that might have previously been roadblocked. For its part, Google has been interested scooping up Wiz to turbo charge in two areas: enterprise cloud, a business where it continues to lag behind AWS and Microsoft Azure; and security, an area where it does offer some products but nothing on the size, scale, or growth trajectory of Wiz.Not long after the deal fell apart, Wiz ran a secondary sale at a $16 billion valuation. Rumors were that it was in the process of fundraising at an even higher valuation. And business has been growing, with the company crossing $500 million in ARR last year and on track to double that this year to $1 billion.Last year on stage at Disrupt, Rappaport didnt rule out the possibility of an acquisition in the future but he also confirmed that it was Wiz who walked away from the deal, describing it as the toughest decision ever but also maintaining it was the right choice.On a purely financial outcome, it looks like his instinct has held true.More to come.