Hub Cyber Security Ltd HUBC is experiencing an astronomic 30% surge in its share value following the announcement of an expansive partnership with Blackswan Technologies Ltd.
The collaborative agreement aims to deliver advanced Confidential Computing cybersecurity solutions, bolstering protection for vital data assets in the financial industry.
In light of a recent alliance between Blackswan Technologies and a major European financial institution, HUB will be providing Confidential Computing cybersecurity solutions to ensure the security of the bank’s crucial data assets.
The comprehensive deal has been inked for an initial three-year period, with the potential for an additional 24-month extension.
The company anticipates generating revenue exceeding $25 million within the next 18 months.
Noah Hershcovitz, HUB’s Chief Strategy Officer, expressed, “Our partnership with Blackswan is poised to significantly augment our customer base, especially in the banking, credit, and investment sectors – all of which are major arenas with cybersecurity vulnerabilities that we excel in addressing. This marks the initial step towards expanding HUB’s business in terms of both clientele and geographical reach.”
Price Action: HUBC shares surged by 30.2% to reach $0.30 at the last check on Friday.