Alphabet is exploring a plan to buy Israeli cybersecurity startup Wiz for $23 billion, in what would be the company’s largest acquisition, reported Reuters.

Wiz, established in Tel Aviv and now based in New York, provides cybersecurity products including AI-powered threat detection and responses to some of the biggest corporations including Microsoft, Amazon, Morgan Stanley and Shell.

Reuters reported Alphabet would mostly pay cash and a deal “could come together soon”, according to a source.

Wiz has raised $2 billion in funding and is valued at around $12 billion. Earlier this year, the startup acquired cloud detection and response specialist Gem Security for $350 million.

Alphabet has stepped up its cybersecurity portfolio in recent years, spending $5.4 billion to acquire specialist Mandiant in 2022.