On Tuesday, Alphabet announced the acquisition of Israeli cybersecurity startup Siemplify, at a time when cyber-attacks and data breaches are on the rise.
As enterprises turned to work from home, Google's cloud income nearly doubled to roughly $5 billion since the pandemic began in 2020. In tandem, the need to prevent and hedge against security risks has increased, with large corporations investing in cybersecurity technologies.
Siemplify's platform will be incorporated into Google's cloud, according to the company. The firms did not disclose the deal's financial terms, however, CTech, an Israeli technology news website, said that the transaction is valued at $500 million.
A request for confirmation from a major Newswire was not immediately returned by Google.
The acquisition, which is Google's first in Israel, also supports the country's attempts to address cybersecurity issues.
NSO Group, the maker of the Pegasus hacking tool that has been criticized by a number of organizations and governments for mishandling information, is based in Israel.