Israeli cybersecurity start-up Wiz has ended talks with Google on a reported $23-billion deal.
start-up Wiz has ended talks with Google on a reported US$23-billion deal in which it would have become the US tech giant’s largest-ever acquisition.CEO Assaf Rappaport said the company will now focus on an initial public offering, as it had planned earlier, and aims to achieve an annual recurring revenue of US$1-billion.
Wiz provides cloud security solutions that help companies identify and remove critical risks on cloud platforms Reuters reported earlier this month that Google was in advanced talks to buy Wiz for roughly $23-billion, citing a person familiar with the matter, 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.
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