HUB Cyber Security (NASDAQ: HUBC), a developer of confidential computing cybersecurity solutions and services, has acquired QPoint Technologies. The acquisition means that HB now holds 100% of QPoint; the acquisition is also a strategic piece of HUB’s mission to establish a leading global secure-data fabric ecosystem. QPoint has built a diverse customer base of more than 100 renowned brand clients, including Rafael Advanced Defense Systems, the developer of the Iron Dome, the Israel Airport Authority and the Ministry of Defense of Israel. QPoint includes five subsidiaries and provides solutions and consulting across various verticals, including innovative data management and security solutions. The company offers expertise in software engineering, testing, cybersecurity, ICT, web, mobile, project management and complex integration processes. In addition, QPoint has a history of financial health, reporting an annual revenue in FY23 of an estimated $26 million with a year-over-year customer growth rate surpassing 80%. “Acquiring QPoint is not just a transaction; it’s a strategic move deeply embedded in our long-term vision,” said HUB Cyber Security CEO Noah Hershcoviz in the press release. “Completing the acquisition of QPoint now is part of our strategy aimed at fortifying our cybersecurity infrastructure, enhancing our operational resilience and ultimately increasing shareholder value. This integration marks a pivotal moment in our journey towards establishing a more comprehensive cybersecurity framework and underscores our commitment to our mission and to our shareholders.”
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About HUB Cyber Security Ltd.
HUB Cyber Security was established in 2017 by veterans of the elite intelligence units of the Israeli Defense Forces. The company specializes in unique cybersecurity solutions protecting sensitive commercial and government information. The company debuted an advanced encrypted computing solution to prevent hostile intrusions at the hardware level while introducing a novel set of data-theft prevention solutions. HUB Security operates in more than 30 countries and provides innovative cybersecurity computing appliances, as well as a wide range of cybersecurity services worldwide. For more information about the company, please visit www.HUBSecurity.com.
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