Cyber security startup Wiz reportedly rejects $23 billion acquisition proposal from Google

NEW YORK (AP) — Wiz, a cloud security firm based in New York, has rejected a proposed $23 billion acquisition deal offered by Google parent Alphabet, according to a Wiz memo seen by CNBC. Wiz CEO Assaf Rappaport said the company would now focus on an initial public offering. That ends the prospect of what would’ve been the most expensive acquisition in the Google’s 25-year history. Acquisition talks between companies can be very unpredictable — and, especially in today’s world of Big Tech, often open the door for antitrust concerns. Google is no stranger to that. The main pillars of the tech giant’s empire — internet search and digital advertising — have become so powerful that the U.S. Justice Department is trying to undercut them in two separate lawsuits.