In a surprising turn of events, Israeli cybersecurity startup Wiz has decided to end its acquisition talks with Google-parent Alphabet, which would have resulted in a $23 billion deal, the largest ever for Google.
This decision was communicated through an internal memo from Wiz CEO Assaf Rappaport, who emphasized the company’s renewed focus on pursuing an initial public offering (IPO) and achieving substantial growth targets, Reuters reported.
“We received a very humbling offer, but with our exceptional team, I am confident that this is the right decision,” Reuters said quoting Rappaport, without specifically naming Google or Alphabet. “Our goal is to achieve an annual recurring revenue of $1 billion, and we believe we can reach this milestone independently.”
