HUB Security Announces a $18m Framework Agreement to Provide Confidential Computing Hardware Solutions – QNT Press Release


TEL-AVIV, Israel, May 22, 2022 /PRNewswire/ — 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” .

HUB Security was established in 2017 by veterans of Intelligence Units 8200 and 81, including Eyal Moshewho 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.

About HUB Cyber ​​Security (Israel) Limited

HUB Cyber ​​Security (Israel) Limited (“HUB”) was established in 2017 by veterans of the 8200 and 81 elite intelligence units of the Israeli Defense Forces. The company specializes in unique Cyber ​​Security solutions protecting sensitive commercial and government information. The company debuted an advanced encrypted computing solution aimed at preventing hostile intrusions at the hardware level while introducing a novel set of data theft prevention solutions. HUB operates in over 30 countries and provides innovative cybersecurity computing appliances as well as a wide range of cybersecurity services worldwide.

About Mount Rainier Acquisition Corp.

Mount Rainier Acquisition Corp. is a blank check company sponsored by DC Rainier SPV LLC, a Delaware limited liability company managed by Dominion Capital LLC, whose business purpose is to effect a merger, …

Full story available on Benzinga.com



Source link

Recommended For You

About the Author: News Center