The stock of HUB Cyber Security Ltd. (NASDAQ: HUBC) is rising in the latest trading activity. As of the latest check during the current session, HUB Security’s stock was up 12.01% to $2.29. The acquisition of a pivotal position in a big deal has coincided with the increase in HUBC shares.
Today, one of Israel’s top three military contractors and HUB Security (HUBC) announced a significant cooperative arrangement. The agreement states that HUB Security will offer supplementary cybersecurity services and Confidential Computing to collaborative solutions for usage in a variety of on-ground applications. As part of the partnership, HUB’s technology seeks to safeguard all mission-critical data that battle computers handle in real time.
This delicate agreement highlights HUB Security’s continued commitment to offering secure combat solutions, which is especially important in light of the Israeli war. In addition to demonstrating HUB’s expanding impact in the fields of cybersecurity and military defense, the partnership with a top defense vendor is a critical milestone in their goal to provide cutting-edge security solutions.
In a similar move, HUB Security has consented to offer services in relation to a framework contract with a well-known Swiss aviation supplier. The framework’s initial scope is estimated to be around EUR 15.5 million, with the possibility of extensions over the next three years.
The agreement states that HUB will offer a broad variety of services and solutions for cyber data security in addition to continuing system reliability and safety assessments. HUB’s specific assignment is to secure a special aviation project that involves a cutting-edge vertical take-off and landing (VTOL) aircraft fueled by hydrogen and electricity.
In addition to other services, HUB will offer its private cybersecurity solutions for data collecting, system reliability prediction, risk and failure point detection, and assessment and prevention of failure situations at the aircraft level. Based on milestone payments throughout the project, the vendor is anticipated to pay a total of around EUR 15.5 million for the project’s first phase.
