Wiz, the $12 billion cloud security startup that was in acquisition talks with Google parent Alphabet, has decided not to move forward with the deal and will remain an independent company, according to an internal note sent to company's 1,200 employees on Monday viewed by Fortune.
"While we are flattered by offers we have received, we have chosen to continue on our path to building Wiz," CEO Assaf Rappaport wrote in the note. Rappaport added in the email that the company's next target is to reach $1 billion in annual recurring revenue and to take the company public.
