HUB Security Formalizes Collaboration with Blackswan Technologies to Lead the Rapidly Growing Secured Data Fabric Multi-Billion Dollar Market

HUB Security announced the formalization of the terms of its collaboration with Blackswan Technologies. This milestone follows previous announcements made on November 6, 2023, December 1, 2023 and February 8, 2024 regarding the Company’s collaboration with BST.

Following a successful phase of collaboration, HUB Security and BST are advancing their partnership to co-develop and showcase innovative SDF solutions. As part of the agreement between the parties, HUB Security has the exclusive option to acquire BST by August 22, 2025, subject to adjustment and further terms and conditions that would be set forth in a definitive agreement.

The SDF solution integrates BST’s unique data fabric architecture with the Company’s security systems, significantly enhancing overall security capabilities. This integration is designed to reduce the cost of data management and security for large financial institutions and government entities by over 30%, thanks to the elimination of costly ETL and unnecessary data-lake expenses.

Noah Hershcoviz, CEO of HUB, commented, “We are thrilled to formalize our collaboration with Blackswan Technologies, setting the stage to lead the burgeoning Secured Data Fabric (SDF) market. We anticipate that this partnership will help drive innovation in major financial institutions and we are already collaborating on a €20 million deal in Western Europe. Integrating BST’s advanced data fabric with our security systems is expected to not only enhance our capabilities but also cut data management costs by over 30% for our clients.”

Raanan Grobman, Board Member at BST, commented, “We are excited to deepen our partnership with HUB Security, marking a pivotal moment in our efforts to lead the rapidly expanding Secured Data Fabric (SDF) market. Our current collaboration on a €20 million deal with Western European banks highlights our commitment to delivering cutting-edge data solutions. By integrating our advanced data fabric architecture with HUB Security’s robust security systems, we are poised to enhance efficiencies and drive significant cost savings for major financial institutions and government agencies.”

Source: HUB Security media announcement