by Marco Dell’Aguzzo Google Cloud acquired Siemplify, an Israeli cybersecurity startup, for $ 500 million. Here are reasons and details
Google's cloud computing division acquired Israeli cybersecurity startup Siemplify yesterday. It is the first agreement of its kind for the US tech giant. THE VALUE OF THE AGREEMENT Financial details of the deal were not disclosed, but the deal would be worth approximately $ 500 million, according to a Reuters source. GOOGLE'S MOTIVATIONS The acquisition of Siemplify is part of Google's plan to increase the offer of security services against cyber attacks, which are increasingly frequent. Last year, ransomware attacks were particularly noteworthy, i.e. those involving the payment of a ransom in exchange for unlocking systems or data. According to data from the United States government, in the first six months of 2021, American companies made payments related to ransomware attacks for 590 million dollars: it is more than the figure recorded in the whole of 2020 (416 million). In August, Google made a commitment to US President Joe Biden - his administration intends to improve the cyber defenses of both the public and private sectors - to invest $ 10 billion in cybersecurity over the next five years. WHAT SIEMPLIFY DOES Siemplify, the Israeli startup bought by Google, is led by Amos Stern, one of the founders. It deals with providing IT security solutions with automation and orchestration technologies. The startup raised $ 58 million from investors, such as venture capital firms 83North and G20 Ventures. HOW MUCH IS THE CLOUD FOR GOOGLE Since the start of the pandemic, Google's revenue from the cloud division has nearly doubled to approximately $ 5 billion. The spread of work from home has forced companies to ensure the security of their networks and data from cybercriminals. Siemplify's platform will now be integrated into Google Cloud.