28/09/2022

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HUB Security Announces a m Framework Agreement to Provide Confidential Computing Hardware Solutions

HUB Security Announces a $18m Framework Agreement to Provide Confidential Computing Hardware Solutions

TEL-AVIV, Israel, May 22, 2022 /PRNewswire/ — HUB Cyber Security (Israel) Limited (TASE: HUB), a Tel-Aviv based developer of Confidential Computing cybersecurity answers and companies (“HUB” or the “Business”), announces that it has signed a extended-expression framework arrangement with a primary European company to give Confidential Compute hardware answers predicted to reach 18 million bucks in hardware and recurring solutions, such as approximately 3.6 million dollars that are anticipated in revenues previously in 2022.

HUB Security Announces a m Framework Agreement to Provide Confidential Computing Hardware Solutions

HUB Security Logo

As Hub Security’s CEO Eyal Moshe factors out, “Our Private Computing remedy has been in a lot of pilots with top enterprises and governments about the planet for in excess of a yr. We are now gaining momentum in changing these pilots to genuine transactions.” He extra that he anticipates “that the future $1.28 billion SPAC merger with Mount Rainier Acquisition Corp will make improvements to our access to the US sector and other markets, which is possible to even further raise our gross sales. Our products and solutions are distinctive on the industry and allow the client to run in the method even all through a cyber attack”.

HUB Protection was founded in 2017 by veterans of Intelligence Models 8200 and 81, such as Eyal Moshe, who serves as the company’s CEO. A few weeks back, the organization signed a binding arrangement with the Mount Rainier Acquisition Corp ( RNER) traded on the Nasdaq, for a merger expected to execute this 12 months. .

Hub Security’s cyber platform is built and manufactured in Israel and presents army-grade protection for corporations. The business specializes in guarding sensitive business data of businesses and has designed an superior encrypted computing alternative aimed at stopping hostile intrusions in organizations.  In addition to cyber security methods for AI, knowledge, fintech, and edge computing, HUB Protection delivers skilled expert services like integration, pen-assessments., red-teams services, DDoS atacks simulations and a lot more.

About HUB Cyber Security (Israel) Constrained

HUB Cyber Safety (Israel) Limited (“HUB”) was established in 2017 by veterans of the 8200 and 81 elite intelligence units of the Israeli Protection Forces. The corporation specializes in distinctive Cyber Protection remedies defending delicate commercial and federal government data. The organization debuted an highly developed encrypted computing answer aimed at stopping hostile intrusions at the hardware degree when introducing a novel set of data theft avoidance remedies. HUB operates in about 30 nations around the world and delivers ground breaking cybersecurity computing appliances as very well as a huge selection of cybersecurity providers worldwide.

About Mount Rainier Acquisition Corp.

Mount Rainier Acquisition Corp. is a blank test firm sponsored by DC Rainier SPV LLC, a Delaware constrained liability business managed by Dominion Money LLC, whose organization goal is to influence a merger, share exchange, asset acquisition, stock obtain, reorganization or identical enterprise combination with one particular or far more businesses.

Ahead-Hunting Statements

Selected statements bundled in this press release are not historical specifics but are forward-wanting statements for uses of the safe and sound harbor provisions under the United States Personal Securities Litigation Reform Act of 1995. Ahead-on the lookout statements commonly relate to upcoming occasions or HUB’s or RNER’s long run economical or operating functionality. In some scenarios, you can detect ahead-hunting statements by terminology such as “may”, “should really”, “would”, “seem”, “hope”, “intend”, “will”, “estimate”, “foresee”, “consider”, “long term”, “forecast”, “opportunity,” “forecast” or “carry on”, or the negatives of these phrases or variations of them or equivalent terminology, but the absence of these words and phrases does not indicate that a statement is not forward-looking. These kinds of ahead-hunting statements are topic to risks, uncertainties, and other components that could cause true results to differ materially from those people expressed or implied by such ahead on the lookout statements.

These forward-searching statements are based mostly upon estimates and assumptions that, although thought of reasonable by HUB and its management, and RNER and its administration, as the circumstance might be, are inherently unsure. These ahead-searching statements are supplied for illustrative purposes only and are not meant to provide as, and will have to not be relied on by any trader as, a assure, an assurance, a prediction or a definitive assertion of fact or chance. True situations and instances are complicated or difficult to forecast and may possibly vary from assumptions. Lots of real functions and circumstances are outside of the regulate of HUB or RNER.  Factors that may possibly result in precise final results to differ materially from present expectations include, but are not limited to: (i) expectations regarding HUB’s procedures and foreseeable future fiscal performance, such as its foreseeable future business enterprise designs or goals, potential efficiency and alternatives and rivals, revenues, items and services, pricing, functioning fees, marketplace trends, liquidity, funds flows and works by using of funds, capital expenditures, and HUB’s capacity to commit in advancement initiatives and pursue acquisition options (ii) the event of any celebration, modify or other conditions that could give increase to the termination of negotiations and any subsequent definitive agreements with respect to the proposed transactions (iii) the end result of any legal proceedings that might be instituted towards RNER, HUB, the Blended Firm or others following the announcement of the proposed transactions and any definitive agreements with respect thereto (iv) the incapacity to total the proposed transactions thanks to, amongst other points, the failure to get acceptance of the stockholders of RNER or HUB, to get specific governmental and regulatory approvals or to fulfill other situations to closing, like delays in getting, adverse disorders contained in, or the inability to attain required regulatory approvals or comprehensive regulatory reviews needed to finish the proposed transactions (v) the inability to obtain the financing required to consummate the proposed transactions (vi) modifications to the proposed structure of the proposed transactions that may well be required or proper as a outcome of relevant legislation or polices or as a problem to obtaining regulatory approval of the proposed transactions (vii) the ability to fulfill stock exchange listing expectations next the consummation of the proposed transactions (viii) the chance that the announcement and consummation of the proposed transactions disrupts HUB’s present-day designs and operations (ix) the absence of a 3rd bash valuation in analyzing irrespective of whether or not to pursue the proposed transactions (x) the capacity to recognize the expected rewards of the proposed transactions, which may well be impacted by, between other points, competitiveness, the skill of the Put together Corporation to expand and control development profitably, sustain interactions with customers and suppliers and retain its management and critical staff members (xi) fees related to the proposed transactions (xii) the amount of money of any redemptions by present holders of RNER’s common inventory becoming increased than anticipated (xiii) confined liquidity and investing of RNER’s and HUB’s securities (xiv) geopolitical danger, like armed service motion and similar sanctions, and modifications in relevant guidelines or regulations (xv) geopolitical threat, which include navy action and associated sanctions, and improvements in relevant legal guidelines or polices (xvi) the possibility that RNER, HUB or the Mixed Corporation may well be adversely afflicted by other economic, business enterprise, and/or competitive variables (xvii) inaccuracies for any motive in the estimates of expenses and profitability and projected monetary details for HUB and (xviii) other hazards and uncertainties established forth in the portion entitled “Risk Factors” and “Cautionary Note With regards to Ahead-Wanting Statements” in RNER’s remaining prospectus relating to its first general public offering dated October 4, 2021.

Forward-wanting statements talk only as of the date they are built. Almost nothing in this push launch must be regarded as a representation by any particular person that the forward-seeking statements set forth herein will be attained or that any of the contemplated benefits of these forward-seeking statements will be realized. You ought to not location undue reliance on forward-wanting statements, which speak only as of the date they are manufactured. Neither HUB nor RNER undertakes any obligation to update these ahead-searching statements.

Supplemental Facts About the Transaction and Where to Uncover It

In relationship with the proposed transaction, HUB intends to file with the SEC a registration assertion on Kind F-4 containing a proxy statement/prospectus, and following the registration statement is declared efficient by the SEC, RNER will mail a definitive proxy assertion/prospectus relating to the Proposed Company Mix to its stockholders. This push launch does not have all the info that should be viewed as relating to the proposed transaction and is not intended to type the foundation of any financial commitment final decision or any other selection in respect of the proposed transaction. This press launch is not a substitute for any registration assertion or for any other document that HUB or RNER may file with the SEC in connection with the proposed transaction.  Buyers and stability holders are suggested to examine, when available, the preliminary proxy statement/prospectus and the amendments thereto and the definitive proxy statement/prospectus and other paperwork submitted in relationship with the proposed transaction, as these elements will comprise significant information and facts about HUB, RNER and the proposed transaction.

When offered, the definitive proxy statement/prospectus and other related supplies for the proposed transaction will be mailed to stockholders of RNER as of a document day to be established for voting on the proposed transaction. Stockholders will also be in a position to attain copies of the preliminary proxy statement/prospectus, the definitive proxy statement/prospectus and other documents filed with the SEC, without having demand, when available, through the website maintained by the SEC at www.sec.gov.

Investors AND Safety HOLDERS ARE URGED TO Read THE Files Submitted WITH THE SEC Diligently AND IN THEIR ENTIRETY WHEN THEY Turn into Offered Simply because THEY WILL Have Significant Information.

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Source HUB Stability