On Tuesday, Alphabet Inc-owned Google said it has acquired Israeli cybersecurity startup Siemplify, at a time when there has been a rise in cyber attacks and data breaches.
Since the Pandemic started in 2020, Google's revenue from cloud business has doubled to around $5 billion as companies shift to working from home. Big corporates are also beefing up on cybersecurity products as well as the need to protect and hedge against security threats.
Siemplify's platform will be integrated into its cloud, according to Google. The acquisition is estimated to be $500 million, according to com ctech articles 0,7340, L - 3926412,00.
Google didn't respond immediately to a request for confirmation from Reuters.
The buyout, Google's first Israeli firm deal, underpins the middle-eastern nation's efforts to address cybersecurity concerns.
Israel is home to the NSO Group, maker of the Pegasus hacking tool, which has come under fire from a number of companies and governments for misusing information.