Google Buys Siemplify For $500m

Uploaded on 2022-01-17 in BUSINESS-Services-IT & Telecoms, BUSINESS-Services-Financial, FREE TO VIEW

Google has acquired Israeli threat detection firm Siemplify, for a reported $500 million. The purchase marks Google’s fourth acquisition of an Israeli company and its first in the cyber security industry outside the US. 

The Israeli firm will become part of Google Cloud’s security team, and ‘change the rules’ of threat detection and response.

“In a time when cyber attacks 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 specialised knowledge. With Siemplify, we will change the rules on how organisations hunt, detect, and respond to threats”, said Google in a blog post

Siemplify help will enable Google Cloud’s security team “to help companies better manage their threat response,” according to Google Cloud Security VP and GM Sunil Potti, Siemplify’s cloud services will serve as the foundation for Google’s cloud activities and cyber security operations with “the team’s talent leading the way,” he said.

IN 2021 Google committed to  invest $10 billion for cyber security over the next five years to “strengthen cyber security, including expanding zero-trust programs, helping secure the software supply chain, and enhancing open-source security” and to train 100,000 Americans in fields like IT support and data analytics.  

Governments and businesses are at a “watershed moment,” in addressing cyber security, Kent Walker, SVP of global affairs at Google, said in August 2021, as “cyber attacks are increasingly endangering valuable data and critical infrastructure.”

Siemplify was founded in 2015 by entrepreneurs Amos Stern, CEO, Alon Cohen, CTO, and Garry Fatakhov, COO, with offices in Tel Aviv and headquarters in New York.  Siemplify offers a “holistic security operations platform” that allows security analysts at enterprises and organisations to “work smarter and respond faster” to threats. 

In his own post Stern said he and his co-founders knew from their “experience building and training security operations centers from around the world,” that security analysts in large enterprises and organizations need more tools to face threats. “Organisations are facing an unprecedented volume of cyber security threats, all as the shortage of skilled personnel to address these threats remains at an all-time high. There is a need and opportunity to grow our business to meet these challenges,” he said.

Siemplify has developed a security orchestration, automation and response (SOAR) system that helps security analysts automate certain tasks, “integrate security tools to respond to cyber threats with speed and precision, while getting smarter with every analyst interaction.” SOAR is set to be unified with Google’s cloud cybersecurity service Chronicle, which itself emerged from  X, Alphabet’s “moonshot factory” incubator).

Siemplify had previously raised $58 million in funding from investors,  including 83North, G20 Ventures and Jump Capital. In October 2021, Google Cloud invested $50m in another Israeli cyber security company Cybereason.

Siemplify:        Google:        Times of Israel:    

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