HUB Cyber Security Signs An LOI To Acquire A Strategic Product Developer Cyber Security Company; The Potential Transaction Value Represents 20% Of The HUB Security's Shares
Portfolio Pulse from Benzinga Newsdesk
HUB Cyber Security Ltd. (NASDAQ:HUBC) has announced a strategic alliance LOI with an unnamed cybersecurity company. The alliance will involve marketing the combined solutions of both companies in the U.S., the EU, and Israel. HUB will have the option to acquire all shares of the partner company within 6 months, subject to due diligence. The potential transaction value represents 20% of HUB Security's shares. The alliance is expected to enhance HUB's cybersecurity solutions and services, and boost its revenue.
October 31, 2023 | 2:25 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
HUB Cyber Security Ltd. is entering a strategic alliance with a cybersecurity company, with an option to acquire all shares within 6 months. This could enhance HUB's cybersecurity solutions and services, and boost its revenue.
The strategic alliance and potential acquisition could significantly enhance HUB's cybersecurity solutions and services, and add multiple top-tier clients to its portfolio. This could lead to increased revenue and a potential increase in the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100