Alphabet's reported $23B bet on Wiz fizzles out
ID: 37f0a12c-9edc-5da5-bfa6-29ae5a7d098a
STIX ID: report--37f0a12c-9edc-5da5-bfa6-29ae5a7d098a
Feed Name: The Register (Security)
Wiz has reportedly walked away from a potential $23B acquisition by Alphabet and will instead target $1B in ARR and an IPO, according to a memo from CEO Assaf Rappaport. The decision comes amid regulatory scrutiny of big tech deals and follows Google’s 2022 acquisition of Mandiant, with broader industry consolidation continuing. Wiz, valued at $12B after a recent funding round and active in acquisitions itself, will not be joining Google Cloud despite earlier reports.
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