Other Israeli start-ups have been acquired by Google, such as, Alooma which was acquired for $150 million and, of course, Waze, which was acquired for nearly a billion dollars. Siemplify joins that exclusive list, as it was just acquired for $500 million.
The start-up will become Google's cyber division in Israel
Siemplify platform integrates all the tools that already exist in an organization and allows them to be displayed in one place. The system also allows you to set up automated handling processes for certain types of events so that you don't have to deal with the same problems every time, and your security team can be assigned to other, equally important, tasks. The company's system is not intended to replace any existing systems, rather it's meant to provide an additional layer of protection that allows events to be displayed and handled quickly.
In a past conversation with Geektime, Amos Stern, the company's CEO and one of its founders said that “In any organization, there needs to be dozens of different cyber systems, each of which is responsible for the protection of a different area (endpoints, network, email, cloud, etc.). All the above systems operate completely separately and generate alerts that reach the Security Operations Center (SOC) for treatment. Siemplify system connects all of the separate systems and allows them to work together."
According to Stern, Siemplify system can learn, over time, that if a certain analyst handles a certain type of alert successfully, to recommend similar treatment to the system. The company has added a BI capability that provides managers with insights into the efficiency of various processes and even measuring goals for the defence team. Finally, the company has also expanded to manage enterprise-level cyber crises and escalate to C-level events, allowing information to be shared with the organization's management, and expanding its capabilities to managed security service providers (MSSPs).
Siemplify was founded in 2015 by Amos Stern, who previously headed the information security department in the Intelligence Corps of the IDF and worked at Elbit, Alon Cohen, who comes from the "Israeli Intelligence Agency" and also previously worked at Elbit, and Gary Fatakhov, who oversees the company's algorithmic research and has experience in data mining, big data analysis and machine learning.
The acquisition of the Israeli start-up by Google was first reported by Calcalist, and according to the report, 200 of the start-up's employees in Israel, the United States and London will now join Google. It was also reported that following the acquisition, Google will establish a cyber division in Israel that will be part of the company's cloud operations. It is likely that the company's founders will remain in the company in their position.