The parent company has signed an agreement with a leading European corporation to supply cyber systems for three years. The consideration for the orders expected for this period may amount to approximately NIS 65 million, of which NIS 12 million in 2022.
HUB Security CEO Eyal Moshe said in the context of the agreement: “Our Confidential Computing solutions have been in many pilots around the world for close to a year and we are gaining a lot of momentum in pilot conversions to actual transactions. I expect the merger with Mount Rainier Acquisition Corp The company to the US market and other markets and may increase our sales in these markets ”
The company’s product provides a Confidential Computing hardware solution for ransomware for small and medium-sized businesses. “Our products are unique in the market, and allow the customer to operate in the system even during a cyber attack on the organization,” Moshe added. “Computing Confidential, and according to our existing backlog of orders, we expect our revenues in 2022 to total about NIS 370 million.”
HUB Security was established in 2017 by veterans of Intelligence Units 8200 and 81, including Eyal Moshe, who serves as the company’s CEO. A few weeks ago, the company signed a binding agreement, with the Mount Rainier Acquisition Corp (Mark: RNER) traded on the Nasdaq, to merge at a value of $ 1.28 billion. This value is more than 10 times the company’s current value on the Tel Aviv Stock Exchange The merger at such a value, low and even zero.
When the company first reported the merger, its stock soared by many tens of percent, until the market realized it could be a trap:
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