Wiz ends talks with Google on $23 billion deal

Verge

Wiz rejects Google’s $23 billion takeover in favor of IPO

Guardian

Cybersecurity firm Wiz rejects $23bn bid from Google parent Alphabet

Forbes

Google Stock Could Rise On Q2 Cloud Growth Despite Busted Wiz Deal

Cloud computing start-up Wiz has announced that it will not accept Google parent company Alphabet's acquisition offer of $23B, instead choosing to pursue an initial public offering (IPO) of $1B. CEO Assaf Rappaport cited US anti-trust and investor concerns as reasons.

CNBC

Wiz, founded by four former Israeli military officers in 2020, has been valued at $12B, making the decision to back out of the deal "tough," according to Rappaport. The co-founders each own 9% of the company, with venture firms Index Ventures, Sequoia Capital, and Thrive Capital, among others, also owning stakes.

TechCrunch

The deal would have been Google's largest-ever acquisition—almost double its $12.5B purchase of Motorola Mobility in 2012. The tech giant is competing against Microsoft in the race for cybersecurity dominance, for which Wiz is a growing player.

nytimes

The founders of Wiz also have a history of successful acquisitions, including their 2015 sale of security company Adallom to Microsoft for $320M. That company also invested in by Sequoia Capital and Index Ventures.

Google, which is awaiting an antitrust verdict from the US Justice Department, previously bought cybersecurity company Mandiant for $5.4B two years ago and also considering buying cybersecurity firm HubSpot.

Google-Wiz Acquisition Falls Apart

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Google-Wiz Acquisition Falls Apart

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