Siemplify is a security orchestration, automation and response (SOAR) provider and for the cost of $500 million, Google has now acquired the Israeli based cybersecurity company.
The company will now become part of Chronicle and Google hopes that the acquisition will help to advance security operations. Chronicle (owned by Alphabet) began in 2018 and the purpose of the company is to purely focus on cybersecurity, mainly focusing on detecting threats using Google’s infrastructure. Since then Chronicle has been merged into Google Cloud.
Amos Stern, CEO at Siemplify has said:
“We’re excited to join Google Cloud and build on the success we’ve had in the market helping companies address growing security threats,” and also added: “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.”
Siemplify was founded in 2015 and has since raised a total of $58 million to date. It was reported Google gained interest in acquiring the company after hearing that Siemplify may have been preparing for another round of funding.
In a statement, Google 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.”
The company also said:
“We plan to invest in SOAR capabilities with Siemplify’s cloud services as our foundation and the team’s talent leading the way. Our intention is to integrate Siemplify’s capabilities into Chronicle in ways that help enterprises modernize and automate their security operations.”
The acquisition comes at a time of increasing cybersecurity threats, also as much of the world is evolving into a much more digital-based society there is no doubt digital threats will continue to increase. In August 2021, Google committed $10 billion to advance cybersecurity and that they would train 100,000 Americans in fields like IT Support and Data Analytics to learn in-demand skills. In that announcement Google said:
“For the past two decades, Google has made security the cornerstone of our product strategy. We don’t just plug security holes, we work to eliminate entire classes of threats for consumers and businesses whose work depends on our services.”
It would appear this acquisition of Siemplify is another further advancement from the $10 billion Google committed to improving cybersecurity.