HUB Cyber Security Ltd (Nasdaq: HUBC), a developer of confidential computing cybersecurity solutions and services (“HUB” or the “Company”), today announced a unique cybersecurity solution for Google Cloud that leverages HUB’s core technologies – Isolation , Governance, and strict access control. The solution represents a potential paradigm shift in cybersecurity, providing protection for data at rest, data in transit and data used; a time when data cannot be encrypted and is in its most exposed phase.
End customers in virtually every industry have either started moving to the cloud or are considering a digital cloud transformation to take advantage of the low cost and flexibility of cloud processing and storage. However, despite all the benefits that cloud computing offers, the privacy and security of customer data remains a major concern. Historically, cloud providers have solved this challenge with data encryption processes that enable security and privacy; but with increased risk and responsibility as customers must protect their own encryption keys.
In collaboration with Google, HUB has attempted to solve this problem with a confidential computing-based solution that compensates for inherent cloud weaknesses with a secure environment for key generation and distribution. While in the past only high-volume cloud users could benefit from confidential computing, HUB aims to offer both small and large businesses in highly regulated industries such as finance, insurance and healthcare an easily scalable, high-fidelity solution that was previously untapped could be cloud capabilities.
“HUB prides itself on isolating and securing the entire execution environment,” said Uzi Moskovitz, CEO of HUB. “The historical focus on cyber intrusion and network defense is no longer an acceptable solution. HUB is focused on making trusted security environments a reality and providing protection even when end-user systems and computers are compromised.”
About HUB Cyber Security Ltd.
HUB Cyber Security Ltd (“HUB”) was founded in 2017 by veterans of the Israel Defense Forces’ elite 8200 and 81 Intelligence Units. HUB specializes in unique cybersecurity solutions that protect sensitive business and government information. HUB debuted an advanced encrypted computing solution aimed at preventing hostile intruders at the hardware level, while introducing a number of novel data theft prevention solutions. Operating in over 30 countries, HUB provides innovative cybersecurity computing appliances and a wide range of cybersecurity services worldwide.
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements about the expected benefits of the transaction and the combined company’s financial condition, results of operations, earnings prospects and prospects. Forward-looking statements are typically identified by words such as “plan”, “believe”, “expect”, “anticipate”, “intend”, “outlook”, “estimate”, “future”, “forecast”, “forecast, “continue”, “could”, “may”, “might”, “possible”, “potential”, “predict”, “seem”, “should”, “will”, “would” and other similar words and expressions but the absence of these Words do not imply that a statement is not forward-looking.
The forward-looking statements are based on the current expectations of HUB management, as applicable, and are inherently subject to uncertainties and changes in circumstances and their potential effects and speak only as of the date of this statement. There can be no assurance that future developments will meet expectations. These forward-looking statements involve a number of risks, uncertainties or other assumptions that could cause actual results or performance to differ materially from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those discussed and identified in HUB’s public filings with the SEC and the following: (i) Expectations regarding HUB’s strategies and future financial performance, including its future Business plans or objectives, anticipated performance and opportunities and competitors, revenues, products and services, prices, operating expenses, 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 outcome of any legal proceedings that may be instituted against HUB; (iii) HUB’s ability to comply with stock exchange listing standards; (iv) HUB’s ability to grow profitably and manage growth, maintain relationships with customers and suppliers, and retain its management and key employees; (v) limited liquidity and trading in securities of HUB; (vii) geopolitical risks, including military action and related sanctions, and changes in applicable laws or regulations; (viii) the possibility that HUB will be adversely affected by other economic, business and/or competitive factors; (x) inaccuracies for any reason in HUB’s cost and profitability estimates and projected financial information; and (xi) other risks and uncertainties discussed in the “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” sections of HUB’s final proxy statement/prospectus filed on December 5, 2022.
Should one or more of these risks or uncertainties materialize, or should any of the assumptions made by HUB’s management prove incorrect, actual results may vary in material respects from those expressed or implied by these forward-looking statements.
All subsequent written and oral forward-looking statements relating to the business combination or other matters addressed in this press release and attributable to HUB or anyone acting on its behalf are expressly qualified in their entirety by the cautionary statements contained or referred to in the press release. Except to the extent required by applicable law or regulation, HUB undertakes no obligation to update these forward-looking statements to reflect events or circumstances after the date of this press release to reflect the occurrence of unanticipated events.
Gregory FCA on behalf of HUB Security
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