Google's $32 billion Wiz deal may signal a turning point for slow IPO, M&A markets

Assaf Rappaport, Wiz, on Centre Stage during day one of Web Summit 2021 at the Altice Arena in Lisbon, Portugal. Google's acquisition of cybersecurity startup Wiz could be a turning point for an uncertain IPO market and a mergers and acquisitions environment aching from a slowdown in deal activity. Alphabet announced Tuesday that it plans to buy the Israeli cybersecurity startup for $32 billion in its biggest acquisition ever. The deal came months after an initial $23 billion offer fell through and Wiz CEO Assaf Rappaport touted plans for an initial public offering. While deal activity has slowed from its 2021 heyday, appetite has begun to pick up. SailPoint went public in February and CoreWeave, which sells Nvidia's AI processors, said in a Thursday filing that it plans to raise up to $2.7 billion in its IPO that's expected this week. Ticket vendor StubHub filed for an IPO Friday. Wiz's blockbuster deal could signal the opening of the floodgates for the IPO and M&A markets. Cybe ... Read full article.