Cloud Security startup whiz walking away from what would have been a monster

23 billion dollar deal to be bought by Google. Our Steve Kovac

breaks down that news in today's tech check. What a surprise Steve.

Yeah Carl. So this is also a big win for DOJ's Jonathan Canner,

FDC's Lena Khan, and let's just though JD Vance in there for fun.

A source told CMBC Wiz stepped away from Google's 23 billion dollar

acquisition offer because it was concerned

regulators would block the deal. Instead it's going to continue with its plans

to go public. That's exactly by the way what Cantor of the DOJ and Khan of the

FTC want to hear even after losing some

high-profile cases they also say there are aggressive cases against mergers

have caused companies to think twice about making large acquisitions in the first place.

Instead, they'd rather see the smaller companies stay independent and go public.

In a 2023 letter to Representative Thomas Tiffany Kahn wrote, quote,

the fact that the FTC's work is driving

this type of deterrence is a real mark of success, end quote. An example of that

Invidia tried to buy arm holdings for $40 billion and after that deal fell through, arm went on

to IPO, now has a market cap of $175 billion.

Whiz privately valued at $12 billion and Google offered a hefty premium

nearly double the current valuation. Rappaport told staff in his memo it was hard to

turn up that offer but then IPO was always the plan. So now the question is how big

will this IPO be now that we know what Google wanted to pay for the company.

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