Israeli cyber security startup deal was done for $ 500 million
Google Cloud, owned by Alphabet Inc. has announced that there it has taken a major step towards tackling the latest cyber threats.
Google Cloud, owned by Alphabet Inc. has announced that there it has taken a major step towards tackling the latest cyber threats. The company said it has acquired Israeli cyber security startup Simplify as part of efforts to make it easier for security teams.
Terms not disclosed yet
Reports released on this matter, so far neither company has disclosed the terms of the deal. However, new reports from Israel-based C-Tech estimate the acquisition price to be around $500 million. It was told by Google that the company has expanded its security in the midst of increasing cyber-attacks. The cloud division has acquired Israeli cyber security startup Simplify.
The need for cyber security increased in the Corona era
Significantly, in the wake of increasing cases of cyber-attacks and data breaches, Google had promised US President Joe Biden in August 2021 that the company would invest $10 billion in cyber security over the next five years. According to this promise, this step has been taken. Since the beginning of Corona, most companies are working from home and a large number of cloud is being used. In such a situation, the need for protection against security threats has increased, as well as big corporates are also emphasizing cyber security products.
How does Simplify work?
Amos Stern-led startup Simplify provides security systems, automation, and response solutions. According to a report, Simplify had raised $58 million from investors including G20 Ventures and 83North. A statement issued by Google said that Simplify's platform will be integrated into its cloud and will serve as the basis for the capabilities it will invest in.