The cybersecurity company valued most recently at $12 billion will instead pursue an eventual IPO, CEO Assaf Rappaport wrote its employees.
Google’s talks to purchase cybersecurity unicorn Wiz are now dead, per a letter from Wiz CEO Assaf Rappaport shared with the company’s employees on Monday night.
“I know the last week has been intense, with the 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 wrote Wiz staff in the letter obtained by Forbes.
Instead, Wiz will pursue a $1 billion in annual recurring revenue target ahead of an eventual IPO, the cofounder of the New York-based and Tel Aviv-founded company added.
Google did not immediately respond to a comment request.
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