Google's $32 billion acquisition of Wiz may signal the start of a friendlier initial public offering and deal activity environment.

When Assaf Rappaport, Ami Luttwak, Yinon Costica, and Roy Reznik were riding a bus to their Israeli army base nearly a decade ago, they weren’t just swapping stories. They were shaping what would become one of the biggest exits in venture capital history.

The all-cash deal is set to boost Alphabet’s profile in the cloud computing market, a space currently led by Amazon and Microsoft.