Google’s proposed takeover the cybersecurity startup Wiz, for a record $23-billion, won’t be going ahead.
According to reports, Wiz has decided to reject the offer and rather pursue a public listing.
The acquisition would have been Google’s largest ever.
The startup will continue to aim for a $1-billion recurring revenue target, and then proceed with a listing.
According to a memo seen by several media sources, the company prefers to carve out its own path rather than becoming part of a larger organisation.
The acquisition, at $23-billion, would have been double what Google paid for Motorola Mobility in 2012, its largest purchase to date.