HUB Cyber Security Ltd. (HUBC) announced on Thursday its intention to acquire BlackSwan Technologies, Inc., a software company based in the United Kingdom, through a stock-for-stock deal. This strategic acquisition will see BlackSwan's advanced technology integrated into HUB's existing cybersecurity framework. The collaboration aims to deliver state-of-the-art solutions, addressing evolving compliance requirements and safeguarding clients' sensitive data.
As part of the agreement, BlackSwan's shareholders will own approximately 31% of the newly combined entity, which is valued at over $500 million. This valuation is anticipated to further increase in 2025 and 2026. The completion of this transaction is expected by next week.
In pre-market trading, HUB's stock has risen by 16.78%, reaching $0.80 on Nasdaq.
