Alphabet Said in Talks to Buy Wiz for $33 Billion (Correct)

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.

The deal, which may be announced as soon as Tuesday, would be Alphabet’s largest acquisition to date, and could help Alphabet’s Google catch up with Microsoft Corp. and Amazon.com Inc. in the competitive cloud-computing market. The internet search company’s cloud business has been profitable in recent quarters after years of losing money, though its sales growth has slowed.

Terms of the deal haven’t been finalized and could ...