HUB Cyber Security (Israel) Limited, a developer of Confidential Computing cybersecurity solutions and services (“HUB” or the “Company”), announced that it will acquire the cyber security assets of a European Cyber firm that has an extensive EMEA distribution network of cyber solutions for major government and enterprise data centers. The company will acquire the activity for approximately $10 million in cash and up to $12 million in shares.
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HUB Security founder and CEO, Eyal Moshe, said: “As we approach HUB’s SPAC merger with Mount Rainier wards a NASDAQ listing, we are witnessing more successful pilots from the past year being converted into actual Confidential Computing deployments and long-term contracts already in 2022. This current acquisition is a direct continuation of our strategy to increase our global sales and distribution reach to promote our core products. The acquisition has the potential to result in transactions worth hundreds of millions of dollars from enterprises and governments within the EU and the Middle East. We are acquiring direct access to a large number of blue-chip customers around the world, which can save the Company years in otherwise penetrating entering these markets organically.”
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.
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, share exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.