Google has announced that it is acquiring Israeli cybersecurity company Siemplify This is Google's first major acquisition of an Israeli company since it bought traffic satnav app Waze in 2013 for over $1 billion. Google will pay $500 million for Siemplify, "TechCrunch" reports.
Siemplify was founded in 2015 by CEO Amos Stern, CTO Alon Cohen and COO Garry Fatakhov. The company has raised $58 million from investors including Georgian Partners, 83North, and G20 Ventures including $30 million in its most recent financing round in 2019. Siemplify has 200 employees in its offices in Israel, the US and UK.
Siemplify has developed a platform for managing cybersecurity systems for organizations. The company defines itself as assisting cybersecurity teams in working smartly and responding more rapidly in real time to threats by creating automatic processes that combine all the tools at their disposal.
Google Cloud Security GM Sunil Potti confirmed the acquisition in a blog. He wrote, "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."
Siemplify was represented in the deal by Advs. Yael Baratz and Inbal Perlstein-Mandelbaum from Pearl Cohen Zedek Latzer Baratz law firm.
Published by Globes, Israel business news - en.globes.co.il - on January 4, 2022.
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