Cybersecurity firm Wiz calls off $23 billion deal with Google, according to memo

Israeli cybersecurity startup Wiz has ended talks with Google-parent Alphabet (GOOGL.O) on a reported $23 billion deal in which it would have become the US 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.

“Saying no to such humbling offers is tough, but with our exceptional team...