Offer Rejected, Google Cancels Wiz Startup Acquisition

Google canceled Wiz's acquisition (photo: Doc. Google)

JAKARTA Google failed to acquire Wiz, an Israeli cybersecurity startup, because the startup had ended the discussion process. It seems that the two companies did not reach an agreement. Based on Wiz's memo found by Reuters, Wiz CEO Assaf Rappaport, said that initially he was hesitant in rejecting the acquisition offer. However, in the end, Rappaport was confident in rejecting the offer. "Reigning not on such a humble offer is difficult, but with our extraordinary team, I feel confident in making that choice," explained Rappaport in the memo. Although the name of Google and its parent, Alphabet, is not mentioned in the memo, Rappaport's statement clearly refers to the acquisition offer. Now, Wiz will focus on improving their income. Rappaport explains that his company wants to focus on the initial public offering as they had planned before. Wiz wants to pocket revenue of 1 billion US dollars (IDR 16.1 trillion) per year.

Previously, Google was reported to be buying Wiz with a deal worth US$23 billion (Rp372 trillion). This is the largest acquisition nominal ever filed by Google, double the acquisition value of Motorola Mobility in 2012. Until the release of this cancellation report, Google and Wiz have not officially disclosed that they have ever discussed an acquisition deal. Now, Google is looking for another security startup to strengthen its cloud services.