HUB Security Reveals $18m Framework Agreement to Offer Confidential Computing Hardware Solutions

24

HUB Cyber Security (Israel) Limited (TASE: HUB), a Tel-Aviv based developer of Confidential Computing cybersecurity solutions and services (“HUB” or the “Company”), announces that it has signed a long-term framework agreement with a leading European corporation to provide Confidential Compute hardware solutions expected to reach 18 million dollars in hardware and recurring services, including approximately 3.6 million dollars that are expected in revenues already in 2022.

As Hub Security’s CEO Eyal Moshe points out, “Our Confidential Computing solution has been in many pilots with leading enterprises and governments around the world for over a year. We are now gaining momentum in converting these pilots to actual transactions.” He added that he anticipates “that the upcoming $1.28 billion SPAC merger with Mount Rainier Acquisition Corp will improve our access to the US market and other markets, which is likely to further increase our sales. Our products are unique on the market and allow the customer to operate in the system even during a cyber attack”.

Also Read: TD SYNNEX Extends Solution delivery with Google Cloud

HUB Security was established in 2017 by veterans of Intelligence Units 8200 and 81, including Eyal Moshe, who serves as the company’s CEO. A few weeks ago, the company signed a binding agreement with the Mount Rainier Acquisition Corp ( RNER) traded on the Nasdaq, for a merger expected to execute this year. .

Hub Security’s cyber platform is designed and manufactured in Israel and provides military-grade security for organizations. The company specializes in protecting sensitive commercial information of companies and has developed an advanced encrypted computing solution aimed at preventing hostile intrusions in organizations.  In addition to cyber security solutions for AI, data, fintech, and edge computing, HUB Security offers professional services including integration, pen-tests., red-teams services, DDoS atacks simulations and more.

For more such updates follow us on Google News ITsecuritywire News. Please subscribe to our Newsletter for more updates.