NEW YORK -- Google owner Alphabet will buy cybersecurity startup Wiz for $32 billion. The all-cash deal is set to boost Alphabet’s profile in the cloud computing market, a space currently led by Amazon and Microsoft. Once the transaction is closed, the company says Wiz will join Google Cloud.

Google on Tuesday signed a "definitive agreement" to acquire Wiz, the New York-based cloud security startup, for $32 billion in an all-cash deal, according to releases. The deal will improve the company's cloud security offering,