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Eight months after negotiations collapsed and shattered Israelis' dreams of the biggest exit in the country's history, the deal has been finalized—Google has officially announced the acquisition of Israeli cybersecurity giant Wiz in a deal estimated at about $32 billion, $9 billion more than the amount discussed in the previous round.
This is the largest acquisition ever of an Israeli company and also the largest acquisition ever made by Alphabet-Google. In the previous round, Google had offered to buy the company for $23 billion, but after much excitement, Wiz decided to forgo the merger.
In a statement issued by CEO and co-founder Assaf Rappaport, he explained that his plan was to turn Wiz into "the best cybersecurity company in the world" and achieve annual revenues of $1 billion. "Although we are flattered by the offers we received, we chose to continue our path to building Wiz," he wrote to employees.
Assaf Rappaport: The rising star of Israeli high-tech
Assaf Rappaport, 41, is one of the hottest names in Israeli high-tech. A decade ago, he made an exit worth $320 million, became the youngest CEO of Microsoft Israel at the age of 34, and now his name is associated with the largest exit in local high-tech history. According to estimates, Rappaport holds about 10% of Wiz's shares, which means he could pocket $3.2 billion before taxes.
Despite his immense success, Rappaport leads a modest lifestyle. He has lived for over a decade in a rented apartment in an old building in central Tel Aviv, doesn’t own a private car and gets around on foot or by public transportation, often accompanied by his dog, Mika.
Friends describe him as someone who values simplicity and convenience over material possessions. For example, he prefers public transportation over owning a car due to the challenges of parking in his area. While he could easily afford a more luxurious lifestyle, he chooses what suits him best.
However, Rappaport does indulge in certain luxuries. He always flies business class and spends money on experiences he enjoys, such as traveling the world and attending concerts. For instance, he once bought multiple tickets to a Beyoncé concert abroad and invited all his friends. He is known for being surrounded by friends and enjoying life to the fullest.
Rappaport is known for his unconventional management style. He interacts with employees on an equal footing, often wearing jeans, sneakers and a t-shirt. He doesn’t shy away from taking breaks during the workday, whether to nap in the office or play ball with Mika. He has a penchant for junk food, avoids greens and is an avid podcast listener, particularly enjoying celebrity chef Ruthie Brodo's podcast. Colleagues describe him as someone uninterested in material wealth and who avoids bars and clubs.
Origin story
Rappaport is considered one of the most brilliant and creative minds to emerge from Israeli high-tech. He spent his IDF service in elite intelligence units 81 and 8200. After his discharge from the military, he worked for American consulting giant McKinsey but quickly realized he had a different calling.
In 2012, he co-founded Adallom with his friends from his military service—Ami Luttwak, Yinon Costica and Roy Reznik. The startup, which developed cloud-based information security technology, began in a small room in a Tel Aviv apartment and was sold to Microsoft for $320 million within three years.
Adallom's acquisition remains a cornerstone of Microsoft’s successful cloud division. Rappaport later became the CEO of Microsoft Israel’s R&D center. After four and a half years—a long tenure by his standards—he left unexpectedly to establish Wiz with his three partners.
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Rappaport’s parents divorced when he was a child, and his mother, Tzipi, raised him alone. Friends say he speaks with her multiple times a day, and she is immensely proud of him, collecting every article and publication about him.
Rappaport came out as gay at a young age and has been in a relationship for years with Ophir, a former educator and current high-tech worker. He was the first CEO in Israel to announce surrogacy grants for both gay and straight couples. He is also outspoken about his political views, actively participating in protests against the government's controversial judicial reform push. He even declared that Wiz would move funds out of Israel, leaving only what was necessary for salaries and operations.
Wiz: A rising star in cybersecurity
Wiz was founded in a competitive and crowded field, with many players, including several Israeli companies. Its product offers organizations a comprehensive solution for securing their cloud environments. This is precisely what attracted Google, which has lagged behind competitors like Microsoft and Amazon in its cloud division.
Founded just four years ago, Wiz employs about 1,200 people in Israel and the U.S. Its clients include major companies like Colgate-Palmolive and BMW. Among its investors are Howard Schultz, founder of Starbucks, and French billionaire Bernard Arnault, who briefly overtook Elon Musk as the world’s richest person. Each of Wiz’s four founders holds an equal 10% share: Rappaport serves as CEO, Costica as chief product officer, Luttwak as chief technology officer and Reznik as chief development officer.
Despite Rappaport’s prominent role as the company’s frontman, decisions at Wiz are reportedly made collectively by the four founders, each having an equal vote. This collaborative approach has so far prevented conflicts often seen in similar high-profile ventures.
Rappaport has often cited entrepreneurs like Nir Zuk of Palo Alto Networks and Gil Shwed of Check Point as his role models—leaders who didn’t seek quick exits but instead aimed to build global companies. He has previously stated, "If someone is looking to buy us, don’t bother calling." However, sources close to Rappaport say he wrestled with the decision between selling to Google and pursuing an independent IPO to fulfill his dream of making Wiz the world’s largest cybersecurity company.
Ultimately, the decision wasn’t solely up to Rappaport and his partners. Venture capital funds and investors behind Wiz saw Google’s offer as a rare opportunity to secure significant returns without the risks associated with a public offering.