Google acquires Israeli cybersecurity company Siemplify for $500 million
Google announced on Tuesday that it is acquiring Israeli cybersecurity startup Siemplify for a reported $500 million.
Google Cloud Security vice president Sunil Potti said Siemplify is a leader in the security orchestration, automation and response (SOAR) field. Their platform will be integrated into Google Cloud’s security team “to help companies better manage their threat response.”
“In a time when cyberattacks are rapidly growing in both frequency and sophistication, there’s never been a better time to bring these two companies together. We both share the belief that security analysts need to be able to solve more incidents with greater complexity while requiring less effort and less specialized knowledge. With Siemplify, we will change the rules on how organizations hunt, detect and respond to threats,” Potti said.
“Providing a proven SOAR capability unified with Chronicle’s innovative approach to security analytics is an important step forward in our vision. Building an intuitive, efficient security operations workflow around planet-scale security telemetry will further realize Google Cloud’s vision of a modern threat management stack that empowers customers to go beyond typical security event and information management (SIEM) and extended detection and response (XDR) tooling, enabling better detection and response at the speed and scale of modern environments.”
Potti explained that Siemplify’s platform was built to help streamline the tasks of SOC analysts and assist them in responding to cyber threats. According to Potti, the acquisition is part of Google’s larger investment in SOAR capabilities.
Siemplify CEO Amos Stern added that Chronicle’s “security analytics and threat intelligence” will be able to help many security operations centers.
“We’re excited to join Google Cloud and build on the success we’ve had in the market helping companies address growing security threats,” Stern said.
In his own blog post, Stern said that since the company’s founding in 2015, they have acquired customers ranging from Fortune 500 companies to MSSPs.
Calcalist, the first to report the $500 million price tag, noted that Siemplify currently has about 200 employees based in the US, UK and Israel.
In October, Google Cloud partnered with Israeli cybersecurity firm Cybereason on an effort to provide Extended Detection and Response (XDR) tools to organizations looking for protection of their endpoints, networks, clouds and workspaces.