Google said on Tuesday that its cloud business unit has acquired the Israeli cybersecurity startup Siemplify. The two companies have not disclosed the financial details of the transaction, but people familiar with the matter said that Google paid Siemplify about $500 million in cash. Google said that Siemplify’s platform will be integrated into its cloud computing.
Siemplify provides security orchestration, automation, and response solutions. It has previously raised $58 million from investors including G20 Ventures and 83North.
In an ever-increasing number of cyber attacks, the US technology giant Google has expanded its security products. In August last year, Google promised US President Biden that would invest US$10 billion in cybersecurity in the next five years in the face of a substantial increase in cyber-attacks and data breaches.
Since the outbreak of the epidemic in 2020, Google’s revenue from the cloud business has almost doubled to approximately US$5 billion as companies shift to working from home. As large enterprises are also strengthening the research and development of network security products, the demand for protection and prevention of security threats has also surged.