The acquisition negotiations between Google’s parent company and the Israeli-based Wiz ended unsuccessfully this week, so the approximately 23 billion dollars earmarked for the acquisition may remain in Alphabet’s coffers, and the owners will take Wiz to the stock market in accordance with the original plans.
In an internal letter sent to employees that reached the press, Wiz CEO Assaf Rappaport stated that it is a difficult decision to say no to an offer of such a value, which is also supported by the fact that the startup was valued at $12 billion during the latest capital raising in May.
According to insiders, Wiz’s management may have said no to the applicant due to competition law and investor concerns.
Even so, Wiz is considered one of the fastest growing technology startups today. The company was founded in 2020, and the possibility of listing on the stock exchange first arose in May of this year. The company currently has around 900 employees, but the management planned to hire another 400 this year alone.
The company’s number one product is the cyber security software package, which analyzes the cloud infrastructure of the customers and uncovers their potential weak points – accordingly, the solution has recently been particularly popular among the medium and large companies that are Wiz’s target group.
For Alphabet, the rejection of the offer means that the 2022 acquisition of Mandiant will remain the company’s most valuable cybersecurity acquisition – when the company paid $5.4 billion for the company that was spun off from FireEye in 2021.
The acquisition of Motorola in 2012 remains Google’s most valuable acquisition of all time, for which the parties agreed on a purchase price of 12.5 billion dollars.
Source: www.hwsw.hu
