
Please try another search
By Krystal Hu and Eva Mathews
(Reuters) -Alphabet Inc-owned Google (NASDAQ:GOOGL) said on Tuesday its cloud division had acquired Israeli cybersecurity startup Siemplify, as the U.S. tech giant expands its security offerings amid rising cyber attacks.
Financial details of the deal were not disclosed by the companies, but a source familiar with the matter said Google paid about $500 million in cash for Siemplify.
The deal came after Google made a pledge to U.S. President Joe Biden last August to invest $10 billion in cybersecurity over the next five years, amid a significant rise in cyber attacks and data breaches.
Siemplify, led by co-founder and chief executive Amos Stern, provides security orchestration, automation and response solutions. It has raised $58 million from investors including G20 Ventures and 83North.
With a partnership with Google Cloud, Siemplify attracted the buyer's interest as it was in the process of raising a new round of private capital, the source added.
Since the pandemic started in 2020, Google's revenue from the cloud business has nearly doubled to around $5 billion as companies shifted to working from home. The need to protect and hedge against security threats has shot up in tandem, with big corporates also beefing up on cybersecurity products.
Google said Siemplify's platform would be integrated into its cloud and serve as the foundation for the capabilities it will invest in.
The buyout, Google's first Israeli cybersecurity firm deal, will help the tech giant take advantage of the Middle Eastern nation's deep pool of cybersecurity talent.
Guggenheim Securities advised Siemplify on the transaction.
(Reuters) - Rivian Automotive said on Friday Charly Mwangi, who helped kick-start the electric-vehicle maker's manufacturing process, will leave the company. Mwangi, a former...
LONDON (Reuters) - Low-cost carrier easyJet (LON:EZJ) is to cancel more than 200 flights over the next 10 days due to airport delays and other restrictions, disrupting travel...
SHANGHAI (Reuters) - China's first public real estate investment trusts (REITs) based on residential properties will be launched soon, as regulators step up efforts to channel...
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.
I feel that this comment is:
Thank You!
Your report has been sent to our moderators for review
Add a Comment
We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
Enrich the conversation, don’t trash it.
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.