CEO of HUB Security, Eyal Moshe: “Our Confidential Computing product can make a difference in changing the cybersecurity game for governments and enterprises. North America is a huge market for us and this agreement significantly increases our sales potential in this region.”
Tel Aviv, Israel† June 30, 2022 /PRNewswire/ — HUB Cyber Security †Israel) Limited (TASE: HUB), a developer of Confidential Computing cybersecurity solutions and services (“CENTER” or the “Company“), today announced an agreement with one of the largest US system integrators of cybersecurity solutions to sell HUB’s Confidential Compute solutions to US enterprises and telecom providers. The integrator specializes in providing products and services for 5G networks and Edge. Computing in the US
The contract duration is set at 24 months and can be extended by mutual agreement between both parties.
This is HUB’s first strategic agreement in the US market, and the Company believes it will increase HUB’s product sales in the US and have a significant impact on the Company’s revenues over the next two years.
Eyal Moshe† CEO of HUB Security, stated: “We are on track for hypergrowth in sales of our Confidential Computing solutions worldwide over the next five years to establish ourselves as a leader in this space. The US is a prime target and we are plans to build a series of partnerships for rapid introductions and implementations of our solutions across Fortune 500 companies and government agencies.”
About HUB Cyber Security (Israel) Limited
HUB cybersecurity (Israel) Limited (“HUB”) was founded in 2017 by veterans of the Israeli Defense Forces’ 8,200 and 81 elite intelligence units. The company specializes in unique Cyber Security solutions that protect sensitive commercial and government information. The company debuted an advanced encrypted computing solution aimed at preventing hostile intruders at the hardware level while introducing a new suite of solutions for data theft prevention. Operating in more than 30 countries, HUB provides innovative cybersecurity computing equipment and a wide range of cybersecurity services worldwide.
About Mount Rainier Acquisition Corp.
Mount Rainier Acquisition Corp. is a blank check company sponsored by DC Rainier SPV LLC, a Delaware limited liability company managed by Dominion Capital LLC, the business purpose of which is to effect a merger, stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more companies.
Forward-Looking Statements
Certain statements in this press release are not historical facts, but are forward-looking statements for purposes of safe harbor provisions under the US Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or the future of HUB or RNER financial or operational performance. In some cases, you can identify forward-looking statements by terminology such as “may,” “would,” “would,” “appear,” “expect,” “intend,” “will,” “estimate,” “anticipate.” ” , “believe”, “future”, “forecast”, “potential”, “predict” or “continue”, or the negations of these terms or variations thereof or similar terminology, but the absence of these words does not imply a statement is not future-oriented. Such forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements.
These forward-looking statements are based on estimates and assumptions which, while believed to be reasonable by HUB and its management, and RNER and its management, as the case may be, are inherently uncertain. These forward-looking statements are for illustrative purposes only and are not intended to serve as, and should not be relied upon by, any investor as a guarantee, assurance, forecast or conclusive statement of fact or probability. Actual events and conditions are difficult or impossible to predict and may differ from assumptions. Many actual events and circumstances are beyond the control of HUB or RNER. Factors that could cause actual results to differ materially from current expectations include, but are not limited to: (i) expectations regarding HUB’s strategies and future financial performance, including its future business plans or objectives, future performance and opportunities and competitors, revenues, products and services, pricing, operating costs, market trends, liquidity, cash flows and use of cash, capital expenditures and HUB’s ability to invest in growth initiatives and pursue acquisition opportunities; (ii) the occurrence of any event, change or other circumstance which could give rise to the termination of the negotiations and any subsequent final agreements with respect to the proposed transactions; (iii) the outcome of any legal action that may be brought against RNER, HUB, the Combined Company or others following the announcement of the proposed transactions and any final agreements thereto; (iv) failure to complete the proposed transactions due to, among other things, failure to obtain shareholder approval of RNER or HUB, failure to obtain certain governmental and regulatory approvals, or meeting other closing conditions, including delays in obtaining, adverse circumstances contained in, or inability to obtain necessary regulatory approvals or complete the regulatory checks necessary to complete the proposed transactions; (v) the inability to obtain the financing necessary to complete the proposed transactions; (vi) changes in the proposed structure of the proposed transactions that may be required or appropriate as a result of applicable law or regulation or as a condition of obtaining regulatory approval of the proposed transactions; (vii) the ability to meet stock exchange listing standards upon completion of the proposed transactions; (viii) the risk that the announcement and completion of the Proposed Transactions will disrupt HUB’s current plans and operations; (ix) the lack of a third party valuation in determining whether or not to proceed with the proposed transactions; (x) the ability to recognize the anticipated benefits of the proposed transactions, which may be affected by, among other things, competition, the Combined Company’s ability to grow and profitably manage growth, maintain relationships with customers and suppliers, and retain management and key employees; (xi) costs associated with the proposed transactions; (xii) the amount of any redemption by existing holders of ordinary shares of RNER is greater than expected; (xiii) limited liquidity and trading in securities of RNER and HUB; (xiv) geopolitical risks, including military action and related sanctions, and changes in applicable law or regulation; (xv) geopolitical risks, including military action and related sanctions, and changes in applicable law or regulation; (xvi) the possibility that RNER, HUB or the Combined Company may be adversely affected by other economic, business and/or competitive factors; (xvii) inaccuracies for any reason in the estimates of costs and profitability and expected financial information for HUB; and (xviii) other risks and uncertainties set forth in the section entitled “Risk Factors” and “Warning Regarding Forward-Looking Statements” in RNER’s final prospectus in relation to its initial public offering of October 4, 2021†
Forward-looking statements speak only as of the date they are made. Nothing in this press release should be taken as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the intended results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Neither HUB nor RNER undertake any obligation to update these forward-looking statements.
Additional information about the transaction and where to find it
In connection with the proposed transaction, HUB intends to file with the SEC a registration statement on Form F-4 containing a proxy statement/prospectus, and after the registration statement is declared effective by the SEC, RNER will issue a final proxy statement/prospectus. Prospectus relating to the Proposed Business Combination to its shareholders. This press release does not contain all of the information to be considered in relation to the proposed transaction and is not intended to form the basis of any investment decision or any other decision regarding the proposed transaction. This press release is not a substitute for any registration statement or any other document that HUB or RNER may file with the SEC in connection with the proposed transaction. Investors and security holders are advised to read, if available, the preliminary proxy statement/prospectus and its amendments and the final proxy statement/prospectus and other documents filed in connection with the proposed transaction, as these materials will contain important information about HUB , RNER and the proposed transaction.
If available, the final proxy statement/prospectus and other relevant material for the proposed transaction will be emailed to RNER’s shareholders as of a to be determined record date for voting on the proposed transaction. Shareholders will also be able to obtain copies of the preliminary proxy statement/prospectus, the final proxy statement/prospectus and other documents filed with the SEC, free of charge, upon their availability, through the website maintained by the SEC at www.sec.gov†
INVESTORS AND SECURITYHOLDERS ARE URGENTLY READ TO READ THE DOCUMENTS FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRE WHEN THEY BECOME AVAILABLE, BECAUSE THEY CONTAIN IMPORTANT INFORMATION.
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SOURCE Hub Security