Wiz Rejects Google's $23 Billion Acquisition Offer
Wiz Rejects Google's $23 Billion Acquisition Offer

Wiz Rejects Google's $23 Billion Acquisition Offer

News summary

Google's $23 billion acquisition of Israeli-founded cybersecurity firm Wiz has fallen through, with Wiz deciding to pursue an initial public offering (IPO) instead. Wiz CEO Assaf Rappaport informed employees that the company aims to achieve $1 billion in annual recurring revenue before the IPO. Concerns over antitrust scrutiny and investor apprehensions contributed to the decision to reject Google's offer. The deal, which would have been Google's largest acquisition to date, faced potential regulatory hurdles given Google's existing antitrust issues. Wiz, valued at $12 billion in its latest funding round, will continue its growth independently, focusing on its cloud security solutions. This development leaves Google still eager to expand its cybersecurity capabilities amidst fierce competition from Microsoft and Amazon.

Story Coverage
Bias Distribution
50% Left
Information Sources
0319a078-c5a7-4188-95f2-60cb4be32cc6bd7f581c-6294-4fb3-adfe-81db52a0845222f21122-9d27-4998-9230-347eca43599bbd68667e-abfe-4783-a143-3b1ae84b8232
+12
Left 50%
Center 38%
R
Coverage Details
Total News Sources
16
Left
8
Center
6
Right
2
Unrated
0
Last Updated
108 days ago
Bias Distribution
50% Left

Open Story Timeline

Story timeline 1Story timeline 2Story timeline 3Story timeline 4Story timeline 5Story timeline 6Story timeline 7Story timeline 8Story timeline 9Story timeline 10Story timeline 11Story timeline 12Story timeline 13Story timeline 14

Analyze and predict the
development of events

Related News
Daily Index

Negative

21Serious

Neutral

Optimistic

Positive

Ask VT AI
Story Coverage
Subscribe

Stay in the know

Get the latest news, exclusive insights, and curated content delivered straight to your inbox.

Related News
Recommended News