According to the official announcement, Google has paid $500 million for Israel-based Siemplify.
Although specific financial terms were not disclosed, it is believed that Google paid $500 million in cash for the Israeli cybersecurity start-up.
In the past year, Google has pledged Joe Biden, the U.S President, to invest in cybersecurity. The company pledged for a $10 billion investment over the next five years seeing the increase in data breaches and cyber-attacks.
Siemplify offers security response, automation, and orchestration services. The company, led by Amos Stern (co-founder and CEO), has raised $58 million in funding from investors including 83North and G20 Ventures.
Since the process of raising a new private round of capital was underway, the company’s partnership with Google Cloud piqued the interest of buyers.
Since the onset of the coronavirus pandemic in 2020, Google’s revenue from the cloud venture has more than doubled to nearly $5 billion. This was attributed to the shift from office to home-based work. While this was beneficial in many ways, it also brought with it security risks, forcing large corporations to invest in cybersecurity products.
Siemplify’s platform will be integrated into Google’s cloud, where it will serve as the foundation for the capabilities invested in.
The acquisition will allow Google to tap into Israel’s massive pool of cybersecurity talent.
We previously reported that Amazon’s Alexa instructed the girl to complete a potentially lethal challenge.