July 22 (Reuters) -

Cybersecurity startup Wiz has walked away from a reported

$23 billion deal to be acquired by Google-parent Alphabet

and has chosen to pursue an initial public offering as

it initially planned, according to a Wiz memo seen by Reuters.

"While we are flattered by offers we have received, we have

chosen to continue on our path to building Wiz," CEO Assaf

Rappaport said in the memo, without naming Google.

"Let me cut to the chase: our next milestones are $1

billion in ARR and an IPO," Rappaport added.

Reuters reported in July that Alphabet was in advanced

talks to acquire cybersecurity startup Wiz for roughly $23

billion, citing a person familiar with the matter.

Google and Wiz did not immediately respond to Reuters

request for comment.