CNBC July 23, 2024
Key Points
– Wiz has walked away from a deal with Google that would have valued the company at $23 billion.
– CEO Assaf Rappaport told employees the company would pursue an IPO as originally planned.
Wiz has walked away from a $23 billion deal to be acquired by Google, in what would have been the search giant’s largest-ever acquisition, telling employees it would pursue an IPO as previously planned.
“Saying no to such humbling offers is tough,” Wiz co-founder Assaf Rappaport wrote in a memo obtained by CNBC to the company’s employees. A person familiar with Wiz’s thinking cited antitrust and investor concerns as part of the reason for abandoning a potential deal.
Rappaport wrote that the company would...
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