Hub Security’s positioning for quantum security breakthroughs
(FinanceYahoo) Researchers are racing against the clock to develop new encryption systems because quantum computers can break existing ones. Hub Security (Tel Aviv: HUB) is one of the few companies that has already developed a solution for this and is even collaborating with key corporations and countries such as the United States and Israel. IQT-News shares Hub Security’s recent announcements.
Hub Security is an Israeli company has been awarded FIPS 140-2 Level 3 certification, the highest level of security for cryptographic modules in the United States. Hub protects critical commercial and government information in over 30 countries by providing revolutionary cybersecurity computing solutions and a wide range of cybersecurity professional services.
The company partnered with Getronics, a global ICT integrator, in December 2021 to provide secure compute protection to banks and organizations in the European Union, Latin America, and the Asia Pacific. Hub Security also announced in January that it would provide a new quantum security solution in partnership with QuantLR, a quantum technology research firm, to protect sensitive information in the cloud to the Israeli Ministry of Defense.
Recently, the company agreed to merge with SPAC Mount Rainier Acquisition Corp. (RNER) on March 23 to go public in the United States. Generally, merging with a SPAC reduces the risk of IPO failure. It is also a fit for a private company looking to expand its funding pool and connect with investors interested in investing in a disruptive business. The merger is scheduled to be complete in the third quarter of this year and allows investors to fund the idea of disrupting the cybersecurity industry.
As empirical evidence suggests, threats of this nature will often be nullified by young companies with groundbreaking innovations. Hub Security could be one such company to revolutionize the cybersecurity industry in the future.
Once the proposed deal is finalized, the combined company will operate under “Hub Security” and be listed on Nasdaq under the new ticker symbol “HUBC.” Following the merger, existing shareholders of the company will own more than 75% of the company. Hub Security executives believe the transaction will help the company obtain the transparency and credibility it needs to compete in the Fortune 500 category in the coming years.
Sandra K. Helsel, Ph.D. has been researching and reporting on frontier technologies since 1990. She has her Ph.D. from the University of Arizona.