Google's talks to acquire Wiz, the Israeli-founded cybersecurity firm, have allegedly fallen apart, the Wall Street Journal reported on Tuesday, citing sources with knowledge of the talks.
The Journal was able to see an email sent by Wiz CEO Assaf Rappaport, where he said, "Wizards, I know the last week has been intense, with buzz about a potential acquisition. While we are flattered by offers we have received, we have chosen to continue on our path to building Wiz."
Rappaport reportedly said that Wiz intends to reach $1 billion in annual recurring revenue ahead of the IPO.
Wiz could have been Google's largest acquisition
This follows earlier reports by The Journal that Google was in advanced talks to acquire Wiz for $23 billion, in an acquisition made by Google's parent company Alphabet.
Reports noted that if the acquisition were to succeed, it would be the largest acquisition in Google's history.
Wiz is a cloud security start-up founded in 2020 by Israelis Assaf Rappaport, Yinon Costica, Roy Reznik, and Ami Luttwak. Its headquarters are in New York City, though it has offices in the US and Israel.