HUB and Blackswan Tech Team Up for $25M Deal to Boost Bank Cybersecurity
Portfolio Pulse from Benzinga Newsdesk
HUB Cyber Security Ltd (HUBC) has expanded its collaboration with Blackswan Technologies to provide Confidential Computing cybersecurity solutions to the financial sector. A recent agreement with a major European financial institution could result in HUB's revenue exceeding $25 million within 18 months. The deal includes a 3-year term with a potential 24-month extension. HUB's Chief Strategy Officer, Noah Hershcovitz, sees this as a step towards expanding their clientele and geographical reach.
December 01, 2023 | 12:37 pm
News sentiment analysis
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POSITIVE IMPACT
HUB Cyber Security Ltd's partnership with Blackswan Technologies and the $25M deal with a European financial institution is expected to significantly increase HUBC's revenue and expand its market presence.
The news directly involves HUBC in a substantial deal that is likely to boost its revenues and market presence significantly. The financial impact is quantified, and the strategic commentary from the company's CSO underscores the importance of this deal for HUBC's growth trajectory. Given the size of the deal and the specific mention of expected revenue, investor sentiment is likely to be positively influenced in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100