Google announced Tuesday that its cloud division has bought Israeli cybersecurity firm Siemplify, as the search giant continues to expand its security offerings in the face of growing cyberattacks.
The actual cost of the acquisition has not been disclosed by either company, but a source familiar with the deal said Google had paid about $500 million in cash for Siemplify.
The acquisition comes after Google pledged to U.S. President Joe Biden in August last year to invest $10 billion in cybersecurity over the next five years as the number of cyberattacks and data breaches rose sharply.
Siemplify, led by co-founder and CEO Amos Stern, is a provider of security orchestration, automation and response solutions, raising $58 million from investors including G20 Ventures and 83North.
Google said Siemplify’s platform will be integrated into its cloud, serving as the foundation for the capabilities in which it will invest.
This deal will help Google take advantage of the country’s considerable cybersecurity talent in the Middle East.
For more information, read the original story in Reuters.