Google has expanded its push into the lucrative cybersecurity business with a new deal to acquire Siemplify, a late-state Israeli startup selling SOAR (security orchestration, automation and response) technology.
Financial terms of the transaction were not released but reports out of Israel peg the price tag in the range of $500 million.
Google plans to pair Siemplify’s SOAR technology with its own home-built Chronicle security analytics platform to “change the rules on how organizations hunt, detect, and respond to threats,” according to Sunil Potti, vice president of Google Cloud Security.
In a note announcing the acquisition, Potti said Siemplify’s technology fits into the Google Cloud vision of using “planet-scale security telemetry” to provide a modern threat management stack for enterprise defenders.
“[This goes beyond typical security event and information management (SIEM) and extended detection and response (XDR) tooling, enabling better detection and response at the speed and scale of modern environments,” Potti added.
Backed by venture capital, Siemplify raised $58 million over multiple funding rounds and spent the last six years building and selling a SOAR platform that allows security teams to better investigate, analyze, and remediate threats.
Google’s Potti said the ability to add tried-and-tested SOAR capabilities alongside Chronicle’s security analytics offerings will be an “important step forward in our vision” to transform the traditional SOC (security operations center).
He said the Siemplify platform allows SOC 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.
“We plan to invest in SOAR capabilities with Siemplify’s cloud services as our foundation and the team’s talent leading the way,” Potti added.
Separately, Google also announced plans to acquire Actifio, a Massachusetts-based startup in the backup and disaster recovery space.
Google’s previous cybersecurity acquisitions include Zynamics, VirusTotal and Postini.