Tech

Google Acquires Siemplify for $500M to Beef up Cybersecurity

Google Acquires Cybersecurity Startup Siemplify for $500M

  • Google has shelled up $500 to acquire Israeli cybersecurity startup Siemplify
  • The tech giant is looking to beef up its security by investing in SOAR capabilities
  • The company is also looking to integrate Siemplify’s capabilities into its chronicle cloud services

American tech giant Google has acquired Siemplify, an Israel-based cybersecurity company to beef up its security.

Google

The tech startup reportedly specializes in securing end-to-end services for companies, also known as security orchestration, automation, and response services (SOAR).
The acquisition will reportedly cost $500 million and it is the first time that tech behemoth will acquire an Israeli company in the cyber security sector.

Siemplify

Before the current deal, Google’s biggest purchase from Israel was $1.1 billion that the company paid for Waze in 2016. Also in 2019, Elastifile and Aluma were acquired by the American tech company for $200 million and $100 million respectively.
After the latest acquisition, Siemplify will now employ 200 people in the U.S, London, and Israel that will join the enterprise as it focuses on making Siemplify the basis of its cloud activity in Israel.

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Despite the acquisition, Siemplify’s co-founders will continue to work in the company.
In a statement confirming the acquisition, Amos Stern, the co-CEO of the company said:

“We are excited to join Google cloud and build on the success we have had in the market in terms of helping companies address a growing security threat. Together with chronicle’s rich security analytics and threat intelligence, we can truly help security operations center to defend against threat”.

There have been rising cases of cyber attacks since 2020 and during this time, Google’s revenue from Cloud has skyrocketed as more companies adopt the remote working model due to the pandemic.

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