HUB Security Acquires Cybersecurity Leader Comsec for NIS 70M

TEL-AVIV, Israel, September 29, 2021 / PRNewswire / – HUB Security (“HUB“or the”Society“), today announces the acquisition of Comsec Global for 70 million shekels, for which HUB will pay 40 million shekels in cash and 30 million shekels in his own actions. The counterparty of the Shares is subject to a blocking clause on the sale of shares for a period of 6 months after the closing of the transaction.

The main objective of the acquisition is to significantly increase Security HUBthe global sales and distribution infrastructure of more than 40 countries, which will allow the Company to more than double its revenues and significantly accelerate the penetration of HUB’s unique cybersecurity solutions into global businesses.

“HUB has developed technology that can cause a paradigm shift in the cybersecurity market,” commented Mr. Rony sternbach, Chairman of Comsec and controlling shareholder. “HUB’s solution was seen as the long-awaited holy grail by governments and businesses around the world. The combination of the two companies creates a single entity that has a strong global cyber business base coupled with unprecedented growth potential that draws on 40 countries. sales infrastructure. In our opinion, this is a classic case where 1 + 1 equals 10 and not two. “

Comsec is one of the leading companies in the that of Israel cybersecurity sector. Founded in 1987, the company was a pioneer in the field of data security and now has a large customer base spanning over a thousand leading companies in 40 countries on five continents. It operates four consulting and distribution companies and has subsidiaries in the UK and the Netherlands.

The company offers a wide range of services to its customers, providing complete solutions in application security, security and source code testing. These include consulting in application lifecycle development, infrastructure security and communications security. It further provides a security audit via several models; Threat Modeling, Penetration Testing, Black Box and Full White Box Audit Design Review, and more.

Comsec’s annual turnover is approximately 120 million shekels. Its clients include banking, insurance, high technology, communications, industry, retail, large-scale infrastructure, as well as local and central government agencies and departments. Comsec is a one stop shop for all their cybersecurity needs.

Security HUB was established in 2017 by veterans of IDF 8200 and 81 intelligence units. The company specializes in protecting sensitive business information and has an advanced encrypted IT solution for businesses and organizations aimed at preventing hostile intrusions and theft of sensitive business information.

Hub offers cybersecurity solutions, among others, to the AI, Fintek and critical infrastructure industries. The company employs 400 people and its offices are located at Israel and the United States.

SOURCE hub security

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