Wiz Rejects Takeover Offer By Google

Wiz, a firm focused on security and cyber security, has now reportedly rejected Google's offer to take it over – instead focusing on listing their company on the stock exchange as previously planned.

Previously, Google had offered a value of $23 billion to take over Wiz – which is a very high value compared to various previous Google purchases. Wiz is said to be taking steps to focus on IPOs in order to avoid them being targeted by authorities who are likely to block the takeover, in addition to investor concerns.

Wiz was previously founded in 2020, and focused on security and cyber security offerings that have been in high demand lately – not to mention the boom in the digital economy.

To date, Google's most valuable acquisition is Motorola, at $12.5 billion. If Wiz were to be acquired by Google, it would make it Google's biggest takeover to date – but that doesn't seem like it's going to happen.