Cyber security startup Wiz rejects $23 billion acquisition by Google

Wiz, a cloud security firm based in New York, has rejected a proposed $23 billion acquisition deal offered by Google parent Alphabet, according to a company memo sent Monday, July 22, 2024, and seen by CNBC.

Acquisition talks between companies can be very unpredictable — and, especially in today’s world of Big Tech, often open the door for antitrust concerns. That current pecking order may have given the Mountain View, California company some wiggle room to help knock down any potential red flags raised by regulators. Still, Google is no stranger to competition concerns. The main pillars of the tech giant’s empire — internet search and digital advertising — have become so prominent that the U.S.

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Cyber security startup Wiz reportedly rejects $23 billion acquisition proposal from GoogleWiz, a cloud security firm based in New York, has rejected a proposed $23 billion acquisition deal offered by Google parent Alphabet, according to a Wiz memo seen by CNBC. Wiz CEO Assaf Rappaport said the company would now focus on an initial public offering.
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