October 12, 2021, TEL-AVIV, ISRAEL – HUB Security (“HUB” or the “Company”), a provider of advanced cybersecurity hardware solutions and professional services, has announced this morning that it is exploring the possibility of listing the Company’s shares on the NASDAQ stock exchange in the US (the “Listing”). The Company has commissioned a report from A-Labs Advisory & Finance Ltd. as to the feasibility of the Listing and the most appropriate method of doing so with reference to the experience of similar companies in the cybersecurity sector.
HUB has emerged into the market with a unique cybersecurity ideology claiming the vast majority of existing solutions to be insufficient. Quoting a wide range of independent research on the state of cybercrime, HUB demonstrates that despite two decades of massive cybersecurity upgrade of most IT systems on a global basis, computers remain as open and vulnerable to malicious attacks by hackers. By way of example, a recent poll found that 68% of business leaders feel their cybersecurity risks are only increasing (Accenture Security, “The Cost of CyberCrime”, 2020) which corresponds with the reports on data breaches amounting to a staggering amount of 36 billion sensitive enterprise and government records that were exposed in the first half of 2020 alone to malicious uses and ransom attacks (RiskBased Analysis 2020).
Founder and CEO, Eyal Moshe states that: “Computers were never built for defense against malicious hacks. As the computing hardware foundation itself is wide open for attacks, all existing solutions are merely a patch the hackers have learned to overcome with relative ease. Once you have fortified the hardware itself – the CPU, the computer’s memory, the communication card etc. – against cyber threats, this is where we can dramatically change the level of cybersecurity, and we are likely to see a reversal trend in successful cyber-attacks for the first time in decades”.
HUB has seen significant growth in the past year, testing their novel technology with some of the largest organizations globally including banks, insurance companies, health-care institutions, telecom providers and many others. The company has built a professional services and global distribution platform that now operates in over 30 countries, gaining over 1,500 top-tier clients and reaching circa $100 million in annual revenues.
About HUB Security
HUB Security was established in 2017 by veterans of the 8200 and 81 elite intelligence units of the Israeli Defense Forces. The company specializes in unique Cyber Security solutions protecting sensitive commercial and government information. The company debuts an advanced encrypted computing solution aimed at preventing hostile intrusions at the hardware-level while introducing a novel set of data theft prevention solutions. HUB operates in over 30 countries and provides innovative cybersecurity computing appliances as well as a wide range of cybersecurity professional-services worldwide.