Wiz throws a $3 million party as its $32 billion Google deal nears the finish line
An ABBA-themed Purim mega-production in Tel Aviv reflects the extraordinary wealth created by Israel’s biggest tech acquisition, and the culture that comes with it.
Pavilion 2 at Expo Tel Aviv will host on Thursday night what industry executives say is the most expensive party ever staged by an Israeli technology company. Wiz, the cybersecurity startup on the verge of completing its $32 billion sale to Google, is spending an estimated 10 million shekels ($3.2 million) on a Purim celebration, expected to be its last as an independent company.
More than 20 of Israel’s most prominent performers are expected to take the stage, each delivering their own interpretation of ABBA classics. The lineup, according to people familiar with the event, includes some of the country’s most recognizable names, including Osher Cohen, Eden Golan, Sarit Hadad, Odeya, Ivri Lider, Eden Ben Zaken, Dana International, Shiri Maimon, Ninet, Harel Skaat and Harel Moyal. Their appearances will be brief, a few minutes each, but lucrative, with fees ranging from tens of thousands of shekels to more than 100,000 shekels per performance.
The party comes as Google’s acquisition of Wiz is entering its final phase, with approvals already secured in the United States and the European Union. Only three smaller jurisdictions, Australia, South Africa and Turkey, remain formally outstanding, and none is widely viewed as a serious barrier. The deal is expected to close in mid-March.
When it does, $32 billion in cash will be distributed among founders, investors and employees. Wiz’s roughly 2,700 staff collectively stand to receive between $2 billion and $2.5 billion, including a $1.5 billion retention package designed to keep key personnel at Google in the years ahead.
Lavish corporate parties are not new to Israel’s technology industry. But in recent years, they have evolved into something more competitive, a form of cultural signaling as much as employee entertainment.
Wiz has embraced that trend enthusiastically. Last year’s Purim celebration paid tribute to Madonna and featured a lineup of prominent Israeli artists. This year's party comes as Wiz’s independence is nearing its end, and the transition into Google will inevitably alter the company’s culture, structure and autonomy.
