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Google and Wiz scrap $23bn takeover
Evening Standard
|July 23, 2024
WHAT was set to be Google’s biggest ever acquisition appears to have fizzled out after the tech giant’s $23 billion (£18 billion) takeover talks with Israeli cybersecurity firm Wiz were called off.
Wiz CEO Assaf Rappaport says the company took the decision to end discussions in order to return to its original plans for an initial public offering.
In a note to staff seen by Reuters, Rappaport said: “Saying no to such humbling offers is tough, but with our exceptional team, I feel confident in making that choice.”
Wiz had already demonstrated its ability to secure its own sources of funding, having raised $1 billion from investors in May at a $12 billion valuation before Google approached the firm with a much higher offer.
Denne historien er fra July 23, 2024-utgaven av Evening Standard.
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