Deal off the table

Wiz rejects takeover bid from Google

Wiz has rejected the billion-euro takeover offer from Google's parent company Alphabet and ended talks about it. This emerges from a memo. In it, Wiz CEO Assaf Rappaport writes that his company will focus on an IPO as previously planned.

"It's hard to say no to such tempting offers, but with our exceptional team, I feel confident in making this decision," Rappaport explained, without naming Alphabet. Google's parent company could not initially be reached for comment, according to Reuters, and Wiz declined to comment.

According to an insider, Alphabet had approached Wiz with a takeover bid, which the Wall Street Journal put at 23 billion dollars (around 21 billion euros). Neither the US company nor the cyber security specialist had confirmed talks about a takeover. Wiz offers cloud-based cybersecurity solutions that use artificial intelligence to counter threats in real time.

Setback for Alphabet
The rejection of Wiz is a setback for the Alphabet Group, for which it would have been the largest company takeover. The tech giant wants to invest in its cloud infrastructure and gain more customers in the business. Following the purchase of Mandiant for 5.4 billion dollars in 2022, it would have been Alphabet's second major acquisition in the cybersecurity sector.