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.
The decision was announced in an internal memo from Wiz CEO Assaf Rappaport, who emphasized the company’s renewed focus on pursuing an initial public offering (IPO) and achieving significant growth goals, Reuters reported.
“We received a very humbling offer, but with our special team, I’m sure this is the right decision,” Reuters quoted Rappaport as saying, without directly naming Google or Alphabet. “Our goal is to achieve annual recurring revenue of $1 billion, and we believe we can achieve this figure independently.”
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