According to the framework agreement, management estimates revenue potential to exceed $25 million over the next 18 months
HUB Cyber Security Ltd, a Confidential Computing cybersecurity solution provider, announces a significant expansion of its collaboration with Blackswan Technologies Ltd., a leading U.S. enterprise-AI vendor, to provide a joint solution for enterprise Confidential Computing to the financial sector.
In connection with an agreement recently signed by Blackswan Technologies with one of Europe’s largest financial institutions, HUB undertook to provide Confidential Computing cybersecurity solutions to safeguard the bank’s critical data assets in their most vulnerable state – while undergoing processing. The framework agreement signed for 3 years term with potential 24 month extension. It is expected that Hub’s share of the revenue will exceed $25m within the year and a half.
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Noah Hershcovitz, HUB’s Chief Strategy Officer, commented on the collaboration stating that: “Our partnership with Blackswan is expected to yield a significant increase in our customer pipeline as they are prominent in the banking, credit and investment communities – all major sectors – that have a cyber security hole that we know how to fill. This is an initial step towards an expansion on both clientele and new geographies for HUB’s business.”
“The cooperation between the two companies allows us to provide the customer with a comprehensive solution and a security product of the highest level,” stated Uzi Moskowitz, CEO of Hub Security. “This expanded collaboration with Blackswan Technologies reinforces our commitment to driving innovation and setting new standards in the global cybersecurity landscape.”
“We are pleased to collaborate with Hub Security in implementing advanced systems that bolster our clients’ cybersecurity within the regulatory and compliance computational processes,” added Udi Nessimyan, CEO of Blackswan Technologies. “This partnership marks a crucial step in advancing the capabilities of our data fabric infrastructure in addressing cybersecurity challenges faced by global financial institutions.”
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