Google on Tuesday signed a "definitive agreement" to acquire New York-based cloud security startup Wiz for $32 billion in an all-cash deal. In July, CNBC reported that Wiz walked away from a potential $23 billion acquisition by Google and announced to employees that it would pursue an IPO instead.

Google’s agreement to buy cloud security startup Wiz will face antitrust scrutiny amid Alphabet’s ongoing legal battles.

Google is making the biggest acquisition in its history. The company's parent company Alphabet is buying Wiz, the cloud security startup, for $32 billion