Google’s biggest acquisition falls over as cybersecurity start-up Wiz rejects Alphabet’s $35bn offer

| Cybersecurity start-up Wiz has turned down a takeover bid of as much as $US23 billion from Google’s parent company, Alphabet, sticking with a plan for an initial public offering.

The New York-based start-up connects to cloud storage providers such as Amazon Web Services and Microsoft Azure, and scans data stored there for security risks. It still trails Amazon and Microsoft in that market, but the search giant has been gaining ground and that unit reported a profit for the first time last year.

Wiz gained attention after Alphabet was said to be in discussions to buy it for nearly double its valuation just two months prior.

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Cyber security company faces blistering multibillion-dollar loss amid global outageThe cyber security company at the centre of a global tech outage is facing a blistering loss of billions of dollars in market value, as its shares plummet.
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