HUB Cyber Security Signs an LOI to Acquire a Strategic Product Developer Cyber Security Company …>
Bakerfield.com – HUB Cyber Security Ltd. – (GLOBE NEWSWIRE)
HUB Cyber Security Ltd. has announced a strategic alliance Letter of Intent (LOI) with a company specializing in the automation of cyber risk detection and response.
The alliance aims to market the combined solutions of both companies in the U.S., the EU, and Israel.
As part of the agreement, HUB will have the option to acquire all shares of the strategic partner within six months, subject to completing due diligence.
The collaboration will enhance HUB’s cybersecurity solutions and services, providing intelligent automation for cyber vulnerability management, extended detection and response, cyber event management, threat intelligence, and security orchestration, automation, and response.
The potential transaction represents 20% of HUB Security’s shares and is expected to increase revenue while adding new top-tier clients to their portfolio.
The partnership will enhance HUB’s ability to map organizational cyber networks, detect and assess threats, and automate threat management across various attack scenarios.
Uzi Moskowitz, CEO of HUB Security, commented on the strategic alliance, emphasizing the need for stronger cyber defenses amid the current situation in Israel and globally.
The partner company’s capabilities enable the automated detection and protection of critical assets, aligning with HUB’s Confidential Computing product.
The partner company focuses on “management by objectives,” deploying high-level executable security policies to drive coordination, reporting, and risk management.
Their executable policies utilize existing cyber technology and support continuous improvement processes.
It is important to note that this information comes from a press release and should be considered as forward-looking statements subject to potential risks and uncertainties.
The completion of the alliance, acquisition, and expected benefits are contingent upon various factors and due diligence.
Link: https://www.bakersfield.com/ap/news/hub-cyber-security-signs-an-loi-to-acquire-a-strategic-product-developer-cyber-security-company/article_d0ca80a3-4987-5dc1-9cfd-8cdb294707ee.html