Google confirms it has acquired cybersecurity specialist Siemplify, reportedly for $500 million, to become part of Google Cloud’s Chronicle – TechCrunch

Cybersecurity breaches are at a high watermark, so any company serious about increasing its credibility and business in enterprise IT must continue to invest to address them. That’s why Google kicks off the new year by ramping up its cloud-based and enterprise security business. Today, the company confirmed it has acquired Siemplify, an Israel-based cybersecurity startup specializing in end-to-end enterprise security services, commonly referred to as Security Orchestration, Automation and Response (SOAR) services.

The acquisition has been rumored in previous reports in the Israeli press, and now Google and Siemplify’s CEO and co-founder Amos Stern have both confirmed the acquisition, noting that Siemplify will be integrated into Google Cloud Platform, specifically the Chronicle- operation.

Google and Siemplify have not responded to our questions about the price, but our sources close to the deal have confirmed it to be $500 million (a figure also quoted in the previous reports).

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

Siemplify had raised a total of $58 million in its final round in May 2019. Investors included Georgian, 83North, Jump Capital and G20 Ventures, as well as a number of individuals. Although Siemplify is now headquartered in New York, the company was founded and still has R&D activities in Israel, which would make Google’s first cyber acquisition from the country.

The Google acquisition comes at a critical time in the cybersecurity world. The bigger picture is that security breaches are showing no signs of abating, a situation propelled by increasingly sophisticated approaches to malicious hackers; and an increasingly tempting target as organizations and consumers move more and more of their infrastructure and day-to-day operations online and in the cloud.

Chronicle was built as a platform designed for cybersecurity telemetry: specifically tracking the movement of data across all devices and networks, as a way of getting a sense of how to detect and stop breaches. SOAR platforms are the customer interface element of that activity: they are used by security operations specialists to manage and monitor activities, initiate the recovery process (automatic or manual), and log everything to prevent the same from happening in the future. As Google adds more services and automation to gain more customers, adding SOAR capabilities is the logical next step for the company.

“The Siemplify platform is an intuitive workbench that helps security teams to both better manage risk and reduce the cost of addressing threats. Siemplify empowers Security Operation Center analysts to manage their operations from start to finish, respond quickly and accurately to cyber threats, and get smarter with every interaction with analysts. The technology also helps improve SOC performance by reducing caseload, increasing analyst productivity and providing greater visibility into workflows,” wrote Sunil Potti, GM of Google Cloud Security, in a blog post announcing the acquisition. . “Our intent is to integrate Siemplify’s capabilities into Chronicle in a way that helps businesses modernize and automate their security operations.”

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