Google’s $32 billion Wiz acquisition deal is likely to be an accelerant to M&A activity in the cloud security space, according to TD Cowen’s Shaul Eyal.

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

Alphabet will buy fast-growing startup Wiz for about $32 billion in its biggest deal ever, the Google parent said Tuesday, as it doubles down on cybersecurity to sharpen its edge in the cloud-computing race against Amazon.