According to a report of Google’s $500 million acquisition of Israeli-based startup Siemplify, the company should bolster its own cloud security initiative, Chronicle. Reuters. In a blog post announcing the deal, Google describes Siemplify as a security orchestration, automation, and response (SOAR) organization and plans to integrate its capabilities into Chronicle.
“Siemplify is an intuitive workbench that helps security teams both better manage risk and lower the cost of addressing threats,” said Sunil Potti, vice president of Google Cloud Security, in the blog post. “Siemplify empowers Security Operation Center analysts to manage their operations end-to-end, respond quickly and accurately to cyber threats, and get smarter with every analyst interaction.”
Siemplify was launched in 2015 and as Reuters notes that it has raised a total of $58 million from investors to date. A source close to the situation told Reuters that Google, owned by Alphabet, became interested in purchasing the startup after learning that Siemplify was gearing up for another round of funding. Siemplify now joins Chronicle under the Google Cloud umbrella.
Chronicle was first launched in 2018 after divesting X Development (formerly Google X), Alphabet’s “moonshot factory,” and is expected to help large enterprises detect, analyze and store security-related information. According to Sin, security experts were excited about the nascent company when it first launched, as it was believed to use innovative machine learning technology and telemetry data to enhance corporate cybersecurity. But after we became part of Google Cloud in 2019, Sin reports that some employees have quit — including co-founder Mike Wiacek — because they felt the company had lost its original purpose.
Google’s acquisition of Siemplify comes not long after the tech giant pledged to spend more than $10 billion over the next five years to help improve US cybersecurity. In May, President Joe Biden signed an executive order to help strengthen national cybersecurity in the face of major attacks on the Colonial Pipeline and Microsoft Exchange Server.