HUB Cyber Security's acquisition of BlackSwan Technologies is progressing, with expected completion by January 28, 2025.
Quiver AI Summary
HUB Cyber Security Ltd. announced that it is progressing well with its acquisition of BlackSwan Technologies, Inc., having signed a definitive agreement on January 15, 2025. The final steps include routine regulatory and contractual requirements, with the deal expected to close around January 28, 2025. CEO Noah Hershcoviz expressed enthusiasm about the acquisition, stating it positions HUB as a potential leader in secured data fabric solutions and is anticipated to offer considerable opportunities for cross-selling and cost savings. HUB, established by Israeli Defense Forces veterans, specializes in advanced cybersecurity solutions and serves clients in over 30 countries. The announcement also includes a cautionary note regarding forward-looking statements, highlighting potential risks and uncertainties related to the transaction and broader market conditions.
Potential Positives
- HUB Cyber Security is on track to complete the acquisition of BlackSwan Technologies, which will enhance its position in secured data fabric solutions.
- The acquisition is expected to unlock significant opportunities for cross-selling and cost optimization, potentially accelerating profitability and cash flow generation.
- The transaction is anticipated to close imminently, indicating a swift and efficient process by HUB's management.
- CEO Noah Hershcoviz's positive comments highlight the transformative potential of this acquisition for HUB's future market leadership.
Potential Negatives
- Significant concerns exist regarding HUB Security's liquidity and capital resources, raising doubts about its ability to meet financial obligations.
- The ongoing conflict between Israel and Hamas may adversely impact HUB's business operations and overall market environment.
- There is uncertainty surrounding the timely satisfaction of closing conditions for the acquisition of BlackSwan, which could affect the overall success of the transaction.
FAQ
What is the status of HUB Cyber Security's acquisition of BlackSwan Technologies?
The acquisition process is on track, with the definitive agreement signed on January 15, 2025, and expected to close around January 28, 2025.
Who is the CEO of HUB Cyber Security?
Noah Hershcoviz is the CEO of HUB Cyber Security, expressing excitement about the BlackSwan acquisition.
What are the expected benefits of the BlackSwan acquisition for HUB?
The acquisition is expected to enhance cross-selling opportunities and optimize costs, potentially accelerating profitability and cash flow.
When was HUB Cyber Security established?
HUB Cyber Security was established in 2017 by veterans of the Israeli Defense Forces, specializing in cybersecurity solutions.
What are HUB's primary offerings in cybersecurity?
HUB provides encrypted computing technologies and innovative data theft prevention solutions to protect sensitive information.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$HUBC Hedge Fund Activity
We have seen 6 institutional investors add shares of $HUBC stock to their portfolio, and 6 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- CANTOR FITZGERALD, L. P. added 665,143 shares (+inf%) to their portfolio in Q3 2024, for an estimated $403,941
- MORGAN STANLEY added 264,900 shares (+15758.5%) to their portfolio in Q3 2024, for an estimated $160,873
- TWO SIGMA SECURITIES, LLC added 153,965 shares (+inf%) to their portfolio in Q3 2024, for an estimated $93,502
- AVANTAX PLANNING PARTNERS, INC. added 96,946 shares (+537.0%) to their portfolio in Q3 2024, for an estimated $58,875
- UBS GROUP AG removed 90,160 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $54,754
- XTX TOPCO LTD added 47,252 shares (+inf%) to their portfolio in Q3 2024, for an estimated $28,696
- MYDA ADVISORS LLC added 40,000 shares (+inf%) to their portfolio in Q3 2024, for an estimated $24,291
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
TEL AVIV, Israel, Jan. 23, 2025 (GLOBE NEWSWIRE) -- via IBN – HUB Cyber Security Ltd. (NASDAQ: HUBC) (“HUB”; or the “Company”), a leading provider of cybersecurity solutions and advanced data fabric technology, is pleased to announce that the transaction process for the acquisition of BlackSwan Technologies, Inc. (“BlackSwan”) is on track, with the definitive agreement having been signed on January 15, 2025, as previously announced. The final steps towards closing are focused on completing routine regulatory and contractual requirements, and the transaction is expected to close on or about Tuesday, January 28, 2025.
HUB’s management remains focused on completing the transaction with the utmost diligence and care to ensure a smooth and proper conclusion for the benefit of HUB and its shareholders.
Noah Hershcoviz, CEO of HUB Cyber Security, commented:
"We are thrilled about this transformative acquisition, which positions HUB as a potential market leader in secured data fabric solutions. This deal is expected to unlock significant opportunities for cross-selling and cost optimization that could accelerate profitability and cash flow generation. We eagerly anticipate closing this important game-changing acquisition next week."
About HUB Cyber Security Ltd.
HUB Cyber Security Ltd (“HUB”) was established in 2017 by veterans of the elite intelligence units of the Israeli Defense Forces. The Company specializes in advanced cybersecurity solutions that protect sensitive commercial and government information. HUB’s offerings include encrypted computing technologies that prevent hardware-level intrusions and innovative data theft prevention solutions. Operating in over 30 countries, HUB serves a diverse client base with its cutting-edge cybersecurity appliances and services.
Forward-Looking Statements
This press release contains forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995, including statements regarding the anticipated benefits to HUB of the acquisition of BlackSwan, anticipated market opportunity, and the anticipated timeline to closing the transaction. Forward-looking statements are typically identified by words such as “plan,” “believe,” “expect,” “anticipate,” “intend,” “outlook,” “estimate,” “future,” “forecast,” “project,” “continue,” “could,” “may,” “might,” “possible,” “potential,” “predict,” “seem,” “should,” “will,” “would” and other similar words and expressions, but the absence of these words does not mean that a statement is not forward-looking.
The forward-looking statements are based on the current expectations of the management of HUB Security, as applicable, and are inherently subject to uncertainties and changes in circumstances and their potential effects and speak only as of the date of such statement. There can be no assurance that future developments will be those that have been anticipated. These forward-looking statements involve a number of risks, uncertainties, or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those discussed and identified in public filings made with the SEC by the HUB Security and the following: (i) significant uncertainty regarding the adequacy of HUB Security’s liquidity and capital resources and its ability to repay its obligations as they become due; (ii) the war between Israel and Hamas commenced in October 2023, and the expansion of hostilities to other fronts, which may harm Israel’s economy and HUB Security’s business; (iii) expectations regarding HUB Security’s strategies and future financial performance, including its future business plans or objectives, prospective performance and opportunities and competitors, revenues, products and services, pricing, operating expenses, market trends, liquidity, cash flows and uses of cash, capital expenditures, and HUB Security’s ability to invest in growth initiatives and pursue acquisition opportunities; (iv) the outcome of any legal or regulatory proceedings against HUB Security in connection with our previously announced internal investigation or otherwise; (v) the ability to cure and meet stock exchange continued listing standards and remain listed on the Nasdaq; (vi) competition, the ability of HUB Security to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (vii) limited liquidity and trading of HUB Security’s securities; (viii) geopolitical risk, including military action and related sanctions, and changes in applicable laws or regulations; (ix) the possibility that HUB Security may be adversely affected by other economic, business, and/or competitive factors; (i) other risks and uncertainties set forth in the sections entitled “Risk Factors” and “Cautionary Statement Regarding Forward-Looking Statements” in HUB Security’s Annual Report on Form 20-F/A filed on October 22, 2024. In addition, there can be no assurance that the closing conditions in the merger agreement with BlackSwan will be satisfied in a timely basis or at all.
Should one or more of these risks or uncertainties materialize, or should any of the assumptions made by the management of HUB Security prove incorrect, actual results may vary in material respects from those expressed or implied in these forward-looking statements.
All subsequent written and oral forward-looking statements concerning the business combination or other matters addressed in this press release and attributable to HUB Security or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements contained or referred to in the press release. Except to the extent required by applicable law or regulation, HUB Security undertakes no obligation to update these forward-looking statements to reflect events or circumstances after the date of this press release to reflect the occurrence of unanticipated events.
Investor Relations:
Lytham Partners
Ben Shamsian
646-829-9701
[email protected]
Wire Service Contact:
IBN
Austin, Texas
www.InvestorBrandNetwork.com
512.354.7000 Office
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