Wiz, a cloud security startup, has decided to forgo a $23 billion acquisition deal with Google‘s parent company Alphabet Inc. (NASDAQ:GOOGL), (NASDAQ:GOOG) and will instead focus on an initial public offering. What Happened: The acquisition, which would have been Google’s largest, was called off due to antitrust and investor concerns, according to a CNBC report on Monday. "Saying no to such humbling offers is tough," Wiz co-founder Assaf Rappaport informed employees of the decision in a memo, emphasizing the company’s commitment to its pre-existing goals, including an IPO and reaching $1 billion in annual recurring revenue. The report cited a person familiar with the company's thinking. The deal would have nearly doubled Wiz’s $12 billion valuation from its most recent funding round. The startup, founded in 2020, has ...