Google validates the acquisition of cybersecurity specialist Siemplify for a reported $500 million to become part of Google Cloud’s Chronicle

Cybersecurity breaches are at an all-time high, and any company serious about expanding its credibility and business in IT enterprise must continue to invest in addressing them. To that end, Google is kicking off the new year by increasing its cloud-based and enterprise security operations. Today, the company announced the acquisition of Siemplify, an Israeli cybersecurity startup specializing in end-to-end security services for enterprises, also known as security orchestration, automation, and response (SOAR) services.

Israeli press first reported the acquisition, and now both Google and Siemplify’s CEO and co-founder Amos Stern have confirmed it. Siemplify will be integrated into Google Cloud Platform, precisely its Chronicle operation.

Google and Siemplify did not respond to our inquiries about the price, but sources close to the deal confirmed that it is $500 million (a figure also mentioned in the earlier reports).

Chronicle was initially founded with Google “X,” the company’s older moonshot effort, as an enterprise security company. It migrated to Google itself via Google Cloud in 2019 as part of the search giant’s efforts to expand its enterprise revenues by expanding the functionality and services around its cloud services business, in hot pursuit of the market leaders, Microsoft’s Azure and Amazon’s AWS.

Siemplify had raised $58 million, with the most recent round taking place in May 2019. Georgian, 83North, Jump Capital, and G20 Ventures, as well as several individuals, were among the investors. Although Siemplify’s headquarters are now in New York, the company was founded and continues to have R&D operations in Israel, making this Google’s first cyber acquisition outside of the country.

“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,”

Sunil Potti, GM of Google Cloud Security
Total
12
Shares
Previous News Post
Next News Post
Most Popular