CNBC reported that an internal email from Wiz addressed to employees revealed that Alphabet, Google’s parent company, was interested in acquiring Wiz’s entire business for a whopping $23 billion. However, the latest update states that the deal has been rejected, with the company citing the decision as a tough one.
Assaf Rappaport, co-founder of Wiz, mentioned that the company will proceed with its original plan, which included Google negotiating to purchase the business. This involved taking the IPO route and generating an annual revenue of $1 billion.
Sources indicate that one of the reasons the deal fell through was due to concerns from Wiz investors that it could face regulatory scrutiny, potentially impacting the company’s plans.
Google has a history of acquiring businesses, with the purchase of Mandiant for $5.4 billion in 2022 being notable. The largest acquisition to date was Motorola Mobility for $12.5 billion. If the Wiz acquisition were to materialize, it would be Google’s biggest deal yet.
TLDR: Alphabet’s interest in acquiring Wiz for $23 billion was rejected, with investors expressing concerns over regulatory scrutiny. If the deal had gone through, it would have been Google’s largest acquisition.
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