Cybersecurity firm Wiz has announced plans to establish its European headquarters in London, enhancing the UK’s status as a global tech hub. This decision comes shortly after Wiz rejected a $23 billion acquisition offer from Alphabet, Google’s parent company.

Key Highlights:
– **New Office**: First European office to be managed by co-founder Roy Reznik, relocating from Israel.
– **Hiring Initiative**: Ambitious recruitment plan to increase UK staff by 100 by year-end, focusing on engineering and R&D.
– **Revenue Growth**: Aiming for 35% of revenues from Europe, the Middle East, and Africa by the end of next year.
– **Current Operations**: Employs several dozen staff in the UK, primarily in sales and marketing, without a dedicated office.
– **Service Overview**: Provides security risk assessments for cloud storage platforms like AWS and Azure.
– **Notable Clients**: Works with companies such as Asos, Bank of England, and Shell.

Roy Reznik stated that the UK offers significant global brand presence and tech talent, making it critical for Wiz’s expansion. Despite a $350 million revenue last year, the company is projected to reach $500 million this year with a goal of $1 billion annual revenue before exploring strategic options.

Wiz’s rejection of the Alphabet deal reflects their focus on growth and an eventual IPO, although plans indicate a potential listing in the US rather than London. This decision comes amid heightened regulatory scrutiny of large tech acquisitions, illustrated by Adobe’s recent abandonment of their $20 billion acquisition of Figma due to regulatory concerns.