Google Confirms it Acquired Cybersecurity Specialist Siemplify, Reportedly for $500M, to Become Part of Google Cloud’s Chronicle

Google Confirms it Acquired Cybersecurity Specialist Siemplify, Reportedly for $500M, to Become Part of Google Cloud’s Chronicle

Cybersecurity breaches are at an all-time high, and any firm serious about growing its enterprise IT reputation and business must continue to spend in addressing them. To that aim, Google is scaling up its cloud-based and enterprise security efforts in the New Year. 

Today, the company announced the acquisition of Siemplify, a cybersecurity startup located in Israel that specializes in end-to-end security services for businesses, often known as security orchestration, automation, and response (SOAR) services. The deal was first reported in the Israeli press, and now both Google and Siemplify’s CEO and co-founder Amos Stern have confirmed it. Siemplify will incorporate into Google Cloud Platform, especially its Chronicle operation, according to Google.

Google or Siemplify did not answer our enquiries regarding the price, but sources close to the sale verified that it is $500 million (a figure also mentioned in the earlier reports). With Google “X,” the firm’s previous moonshot initiative, Chronicle formed as an enterprise security business. It transitioned to Google Cloud in 2019 as part of the search giant’s aim to boost enterprise sales by expanding the functionality and services around its cloud services business, putting it in direct competition with Microsoft Azure and Amazon AWS, the two market leaders.

Google Confirms it Acquired Cybersecurity Specialist Siemplify, Reportedly for $500M, to Become Part of Google Cloud’s Chronicle

With its most recent round in May 2019, Siemplify had raised a total of $58 million. Georgian, 83North, Jump Capital, and G20 Ventures, as well as a number of individuals, were among the investors. Despite the fact, that Siemplify’s headquarters are now in New York. The firm starts and continues R&D operations in Israel. Making this Google’s first cyber acquisition outside of the nation, in the area of cybersecurity, Google’s acquisition comes at a vital time. The wider picture is that security breaches are not going away, a scenario fueled by increasingly sophisticated techniques from bad hackers, and an ever-more appealing target as businesses and consumers move more of their infrastructure and daily activities online and into the cloud.

Chronicle was created as a platform for cybersecurity telemetry, which involves following the transfer of data across all devices and networks in order to identify and prevent intrusions. Security operations professionals utilize SOAR systems to manage and monitor activities, start the remediation process (either automatically or manually), and log everything to assist avoid the same thing from happening again. 

Adding SOAR capabilities is the natural next step for Google as it provides more services and automation to entice more consumers. “The Siemplify platform is a user-friendly workbench that helps security teams better manage risk while also lowering the cost of responding to threats.” Security Operation Center analysts may use Siemplify to manage their operations from beginning to finish, respond to cyber threats quickly and precisely, and learn from each analyst’s contacts. Sunil Potti, GM of Google Cloud Security, stated in a blog post announcing the purchase, “The technology also helps enhance SOC performance by decreasing caseloads, improving analyst productivity, and enabling greater visibility across processes.” 

“We want to integrate Siemplify’s capabilities into Chronicle in ways that help businesses update and automate their security operations,” says the company. After introducing the game-streaming platform in beta on the LG WebOS TV 2021 last year, Nvidia has teamed with Samsung to offer it to Samsung smart TVs. In today’s release, Nvidia stated, “Our cloud gaming services will be integrated to Samsung Gaming Hub, a new gaming streaming discovery platform that links hardware and software to give a better player experience.” In the second quarter of this year, we will have more to say about this agreement.