Google Cloud has announced the acquisition of Siemplify, an Israeli-based cyber security company that specialises in end-to-end security for enterprises.
The exact terms of the deal were not announced, though Reuters reports it is worth around $500 million.
Acquisition rumours were reported in the Israeli press just before Google Cloud made an official announcement on Tuesday. The CEO and co-founder of Siemplify, Amos Stern, also noted that his company is to be integrated into Google Cloud's Chronicle platform.
Founded in 2015, Siemplify is another example of the growing tech prowess of Israel, which has become a hotbed for new startups and data-centric businesses. Much like digital footprint tracking service Mine, Siemplify is another Israeli company founded by former members of the country's military intelligence agencies.
The company is typically referred to as a security orchestration, automation and response (SOAR) service, which is "the missing piece" for Google's Chronicle platform, according to Forrester analyst Allie Mellen.
"Other security analytics platforms began incorporating SOAR as early as 2017," Mellen said. "This acquisition is an important step in providing a unified offering to practitioners and in being able to compete more directly in the security analytics platform space. Enabling the orchestration of response across multiple tools is an integral part of security operations and has become an integral part of a security analytics platform. This acquisition continues to demonstrate that."
Chronicle is one of Google's original moonshots founded within its "X" programme that was migrated to Google Cloud in 2019. It was designed for cyber security telemetry, specifically to track the movement of data across all devices and networks in a bid to prevent breaches. SOAR platforms act as the customer interface for that operation.
"Siemplify was one of the few remaining standalone SOAR offerings, as many others have been picked up by SIEM vendors over the years," Mellen added.
"Most other standalone SOAR vendors have been acquired or built out their portfolio with other products like threat intelligence platforms. In some ways, that makes this a heady acquisition and signals the end of the standalone SOAR or, frankly, SIEM. We predicted early on that the SOAR market could not stand on its own, and now it has truly come to fruition."
