With an increasing number of countries encouraging citizens to stay, learn or work from home due to the global pandemic, cybercriminals are attacking the computer networks and systems of individuals, businesses, and even global organizations at a time when cyber defenses might be lowered due to the shift of focus to the health crisis. To that end, Google has kicked off the new year by stepping up its operations in cloud-based and enterprise security by acquiring Siemplify, an Israel-based cybersecurity startup that specializes in end-to-end security services for enterprises, typically referred to as security orchestration, automation, and response (SOAR) services.
Since the pandemic started in 2020, Google’s revenue from the cloud business nearly doubled to about $5bn as companies shifted to working from home. The need to protect and hedge against security threats has also shot up in tandem, with big corporates also beefing up on cybersecurity products. Google said Siemplify’s platform will be integrated into its cloud. The financial details of the deal were not disclosed by the companies but the Israel-based technology news website reported the acquisition is estimated to be $500m.
Google’s acquisition comes at a critical time in the world of cybersecurity. The bigger picture is that security breaches show no sign of abating, a situation that is being propelled by ever-more sophisticated approaches from malicious hackers; and an ever-more tempting target, as organizations and consumers bring more and more of their infrastructure and everyday activities online and into the cloud.
Sunil Potti, GM of Google Cloud Security, wrote in a blog post announcing the acquisition: “The Siemplify platform is an intuitive workbench that enables security teams to both manage risk better and reduce the cost of addressing threats. 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. Our intention is to integrate Siemplify’s capabilities into Chronicle in ways that help enterprises modernize and automate their security operations.”
The buyout, Google’s first Israeli firm deal, also underpins the Middle-Eastern nation’s efforts to address cybersecurity concerns. Israel also happens to be home to cyber firm NSO Group, the maker of the Pegasus hacking tool that has come under fire from a string of companies and governments for misusing information.
