Cybersecurity firm Wiz calls off $23 bln deal with Google, memo says

Israeli cybersecurity startup Wiz has ended talks with Google-parent Alphabet on a reported $23 billion deal in which it would have become the U.S. tech giant’s largest-ever acquisition, according to a Wiz memo seen by Reuters.

Wiz CEO Assaf Rappaport said the company would now focus on an initial public offering, as it had planned earlier, and aims to achieve an annual recurring revenue of $1 billion.