Google has confirmed the acquisition of the Israeli cybersecurity firm Siemplify as it continues its push into the cloud-based and enterprise cybersecurity market.
Siemplify was founded in Tel Aviv in 2015 by Amos Stern, Alon Cohen, and Garry Fatakhov and specializes in SOAR (security orchestration, automation, and response) technology that automates the security operations lifecycle. Siemplify has raised $58 million in investment from the likes of Jump Capital, G20 Ventures, and 83North, and now employs more than 150 people around the world. The company was originally based in Israel, where it still has its R&D operations, but is now headquartered in New York.
Google has not released details of the terms of the transaction, but the acquisition is believed to have cost Google around $500 million in cash. Siemplify is the first non-American cybersecurity company to be acquired by Google and the company has been incorporated into the Chronicle operation of the Google Cloud Platform. Chronicle is an enterprise security company that was formed in January 2018 as part of the Google X moonshot factory and was incorporated into the Google Cloud in 2019.
Chronicle is a specialized layer on core Google Cloud infrastructure that allows enterprises to privately retain, analyze, and search the massive amounts of security and network telemetry they generate. The acquisition of Siemplify will further expand Google’s cybersecurity capabilities for enterprises. Sunil Potti, vice president of Google Cloud Security, said pairing Siemplify’s SOAR technology with the Chronicle security analytics platform will “change the rules on how organizations hunt, detect and respond to threats.”
The acquisition of Siemplify comes at a time when cyberattacks and security breaches have been occurring at record levels, and are showing no signs of slowing, with cybercriminals and nation-state threat actors conducting ever more sophisticated cyberattacks on enterprises. Potti said there has never been a better time to bring these two companies together.
“The Siemplify platform is an intuitive workbench that enables security teams to both manage risk better and reduce the cost of addressing threats. Siemplify allows Security Operation Center analysts to manage their operations from end-to-end, respond to cyber threats with speed and precision, and get smarter with every analyst interaction. The technology also helps improve SOC performance by reducing caseloads, raising analyst productivity, and creating better visibility across workflows,” said Sunil Potti, vice president of Google Cloud Security
“We’re excited to join Google Cloud and build on the success we’ve had in the market helping companies address growing security threats,” said Amos Stern. “Together with Chronicle’s rich security analytics and threat intelligence, we can truly help security professionals transform the security operations center to defend against today’s threats.”
