Google Acquires Siemplify: Boosting Google Cloud's Cybersecurity

Rising Cybersecurity Threats Drive Google's Acquisition of Siemplify

The frequency of cybersecurity breaches is currently very high, necessitating continuous investment in security measures for companies aiming to enhance their credibility and expand within the enterprise IT sector.

Google Strengthens Cloud and Enterprise Security

In response to this growing threat landscape, Google is initiating the year by bolstering its operations in cloud-based and enterprise security. The company has officially confirmed the acquisition of Siemplify, an Israel-based cybersecurity startup specializing in comprehensive security solutions for enterprises.

These services are commonly known as security orchestration, automation and response (SOAR) services.

Confirmation and Integration Details

Initial reports of the acquisition surfaced in the Israeli press, and have now been validated by both Google and Siemplify’s CEO and co-founder, Amos Stern. Siemplify will be integrated into Google Cloud Platform, specifically within its Chronicle division.

Financial Aspects of the Deal

While Google and Siemplify declined to disclose the acquisition price, sources familiar with the transaction have confirmed a valuation of $500 million, aligning with earlier reports.

Chronicle's Evolution and Strategic Importance

Chronicle originated as an enterprise security company under Google “X”, the company’s research and development division. It transitioned into Google Cloud in 2019 as part of a broader strategy to increase enterprise revenue.

This expansion focused on enhancing the functionality and services surrounding Google’s cloud offerings, in direct competition with market leaders Microsoft’s Azure and Amazon’s AWS.

Siemplify's Background and Investment

Siemplify had previously secured $58 million in funding, with its most recent round occurring in May 2019. Key investors included Georgian, 83North, Jump Capital, and G20 Ventures, alongside various individual investors.

Although headquartered in New York, Siemplify maintains its founding roots and R&D operations in Israel, marking this as Google’s first cybersecurity acquisition within the country.

The Escalating Cybersecurity Landscape

Google’s acquisition is strategically timed, given the current state of cybersecurity. Security breaches are not diminishing, fueled by increasingly sophisticated hacking techniques and the expanding digital footprint of both organizations and individuals.

Synergy Between Chronicle and SOAR

Chronicle was developed as a platform for analyzing cybersecurity telemetry – tracking data movement across networks and devices to detect and prevent breaches.

SOAR platforms serve as the user interface for this activity, enabling security operations specialists to manage and monitor events, initiate remediation processes (automated or manual), and maintain detailed logs for future prevention.

Integrating SOAR capabilities represents a logical progression for Google as it seeks to attract more customers with enhanced services and automation.

Google's Vision for Siemplify

“The Siemplify platform is an intuitive workbench that enables security teams to both manage risk better and reduce the cost of addressing threats,” stated Sunil Potti, GM of Google Cloud Security, in a blog post.

“Siemplify allows Security Operation Center analysts to manage their operations from end-to-end, respond to cyber threats with speed and precision, and get smarter with every analyst interaction. The technology also helps improve SOC performance by reducing caseloads, raising analyst productivity, and creating better visibility across workflows.”

Google intends to integrate Siemplify’s capabilities into Chronicle to facilitate the modernization and automation of enterprise security operations.