HUB Security signs LOI to acquire cyber risk detection company

HUB Cyber Security announces a strategic alliance LOI with a company with technology in the automation of cyber risk detection and responses. The LOI contemplates that both companies will engage in a strategic alliance via marketing the combined solutions of both companies in the U.S., the EU and in Israel. HUB will receive an option to acquire all of the shares of the strategic partner within 6 months of signing of an agreement, subject to completing due diligence. The union between the companies will enhance HUB’s leading Confidential Computing solutions and Cyber Services, providing intelligent automation for cyber vulnerability management, extended detection and response, cyber event management, threat intelligence, and overall security orchestration, automation, and response. The potential transaction value represents 20% of the HUB Security’s shares, and the acquisition is expected to boost HUB’s revenue while adding multiple existing top-tier clients to HUB’s portfolio. HUB aims to expand its solutions offering with technologies that will rival those of existing vendors. The alliance will significantly increase HUB’s capability to map-out organizational Cyber IT networks, devices, and IoT, detect and assess cyber threats while providing threat management automation across a wide range of cyber attack scenarios.