Israeli Cybersecurity Unicorn Wiz Rejects Google’s $23 Billion Acquisition Offer
“While we are flattered by offers we have received, we have chosen to continue on our path to building Wiz,” said CEO and Co-Founder, Assaf Rappaport
Assaf Rappaport. Photo: Wiz/PR
Negotiations have failed between Israeli cybersecurity unicorn Wiz and Alphabet (Google), on a proposed $23 billion deal that would have become the tech giant’s largest-ever acquisition.
Last week, Reuters reported that Alphabet was in advanced talks to buy Wiz for a valuation nearly double what Wiz had announced in May, when it raised $1 billion in a private funding round at a $12 billion valuation.
“While we are flattered by offers we have received, we have chosen to continue on our path to building Wiz,” said Wiz Co-Founder and CEO, Assaf Rappaport, in an email he sent to the company’s employees.
״Let me cut to the chase: our next milestones are $1 billion in ARR and an IPO,” Rappaport continued. “Saying no to such humbling offers is tough, but with our exceptional team, I feel confident in making that choice.”
According to Reuters, Wiz’s decision to call off the deal will be a setback for Google, which has been investing in its cloud infrastructure and focusing on winning clients for the cloud business that generated over $33 billion in revenues last year.
Founded in January 2020, Wiz currently has 1200 employees around the world.
