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Highlights
- Google has bought Siemplify to boost its security operations.
- The acquisition follows the pledge taken by Alphabet Inc-owned Google in the presence of US president Joe Biden.
- Alphabet Inc will invest $10 billion in cybersecurity over five years.
The cybersecurity- related risks have risen significantly, and businesses are directing their investment towards making IT credible. To tackle the same issue, Google has acquired Siemplify to boost its security operations.
Although the deal amount was not disclosed but it was $500 million according to media reports citing sources.
The acquisition is a follow up of the pledge taken by Google in the presence of US president Joe Biden that Alphabet Inc will invest $10 billion in cybersecurity over the next five years.
Google’s technology will assist in democratising security operations and advancing invisible security for every organisation. Ultimately, Siemplify will play a crucial role in managing threat response at a lower cost.
What does Siemplify do?
Siemplify is an Israeli startup that offers security orchestration, automation, and response (SOAR) services. Headquartered in New York, the company operates from Israel.
The company has raised $58 million till date from the investors like 83North, Georgian, G20 Ventures and Jump Capital.
Commenting on the deal, Amos Stern, CEO at Siemplify, said:
Bottom Line
The investment in cybersecurity is the need of the time amid rising cybersecurity threats, and the acquisition by Google adds to the company's security operations.
