Cyber security startup Wiz reportedly rejects $23 billion acquisition proposal from Google

NEW YORK — Wiz has rejected a reported $23 billion acquisition proposal from Google parent Alphabet — as the cybersecurity startup pivots back to a previously-planned initial public offering, according to a company memo seen by CNBC and others. In a Monday memo to Wiz employees, as reported by CNBC, CEO Assaf Rappaport noted “saying no to such humbling offers is tough” but that the company had instead chosen to focus on its own next milestones — which include going public and reaching $1 billion in annual recurring revenue. According to CNN, which also saw Wiz’s memo, Monday’s note to employees did not mention Google or its parent by name — with Rappaport just alluding to “buzz about a potential acquisition.” Acquisition talks between companies can be very unpredictable — and, especially in today’s world of Big Tech, often open the door for antitrust concerns. “We believe there will be ripple impacts across the sector from this deal not happening,” Wedbush analysts wrote in a Tuesday note — predicting the move will accelerate Google’s cyber security efforts.