Wiz ends $23 billion deal talks with Alphabet, plans IPO for $1 billion annual revenue.

From Nasdaq: 2024-07-23 12:03:39

Israeli cybersecurity startup Wiz opts out of $23 billion deal with Alphabet, focusing on IPO to achieve $1 billion in annual revenue. Alphabet’s setback in cloud cybersecurity strategy follows failed deal with Wiz and HubSpot. Wiz’s CEO confident in long-term strategy, plans IPO after $12 billion valuation in private funding round. Alphabet to reassess cybersecurity market strategy post-deal termination. Previous acquisition of Mandiant for $5.4 billion shows Alphabet’s interest in strengthening cybersecurity offerings, competition with tech giants continues.



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