Google parent Alphabet is looking to acquire cybersecurity startup Wiz, which raised £1bn in funding in May at a $12bn valuation from VC firms including Andreessen Horowitz, Lightspeed Venture Partners and Thrive Capital, for around $23bn, according to a report by the Wall Street Journal.

Greylock, Wellington Management, Cyberstarts, Greenoaks, Howard Schultz, Index Ventures, Salesforce Ventures, and Sequoia Capital, also participated in the funding round, which included a secondary component estimated to be in the tens of millions of dollars.

The report cites unnamed sources as saying that while discussions over a deal are at an advanced stage, a formal agreement has yet to be reached and the talks could still fall through.