Google’s Aborted Deals Show Antitrust’s Long Shadow Over Tech
- $23 billion offer for Wiz collapsed weeks after HubSpot deal
- Regulatory concerns have cratered high-profile tech purchases
Google has focused its corporate development strategy on its cloud business.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
In recent months, Google showed interest in two companies, either of which would have been the biggest-ever purchase for the internet giant. And both times, the deals fell apart.
On Monday, the chief executive of Wiz Inc. told staff that the cybersecurity startup would reject a $23 billion offer from Alphabet Inc.’s Google and instead pursue an initial public offering. That came just weeks after Google shelved plans to buy HubSpot Inc., a $25 billion software firm.