HUB Cyber Security To Buy BlackSwan Technologies In Stock-For-Stock Deal, Shares Up In Pre-Market

(RTTNews) - HUB Cyber Security Ltd. (HUBC), Thursday announced its plan to acquire UK-based BlackSwan Technologies, Inc., a software company, in a stock-for-stock transaction.

Under the deal, BlackSwan's advanced technology would be integrated with HUB's cybersecurity framework to provide cutting-edge solutions, meet evolving compliance demands and protect sensitive data of clients.

BlackSwan's shareholders would have around 31 percent ownership of the combined entity, which would be worth over $500 million and is projected to grow further in 2025 and 2026.

The transaction is set to close next week.

In the pre-market hours, HUB's stock is moving up 16.78 percent, to $0.80 on the Nasdaq.