HUB Security has formalized its collaboration with Blackswan Technologies (BST), a U.S. enterprise-AI vendor, effective from November 1, 2023. The agreement grants HUB exclusive rights until August 22, 2025, to acquire BST's outstanding shares or selected assets in exchange for up to 30% of HUB's fully-diluted share capital, subject to definitive agreement terms.The collaboration integrates BST's data fabric architecture with HUB's security systems, promising over 30% cost reduction in data management and security for large financial institutions. The partnership is currently focused on a €20 million deal with Western European banks, demonstrating early market traction.Under the agreement, HUB receives all rights to deliverables and an irrevocable, perpetual license to BST's background intellectual property. The collaboration builds on previous announcements from November 2023, aiming to strengthen their position in the Secured Data Fabric (SDF) market, though the final acquisition remains subject to due diligence and negotiations.

HUB Security has formalized its collaboration with Blackswan Technologies (BST), a U.S. enterprise-AI vendor, effective from November 1, 2023. The agreement grants HUB exclusive rights until August 22, 2025, to acquire BST's outstanding shares or selected assets in exchange for up to 30% of HUB's fully-diluted share capital, subject to definitive agreement terms.The collaboration integrates BST's data fabric architecture with HUB's security systems, promising over 30% cost reduction in data management and security for large financial institutions. The partnership is currently focused on a €20 million deal with Western European banks, demonstrating early market traction.Under the agreement, HUB receives all rights to deliverables and an irrevocable, perpetual license to BST's background intellectual property. The collaboration builds on previous announcements from November 2023, aiming to strengthen their position in the Secured Data Fabric (SDF) market, though the final acquisition remains subject to due diligence and negotiations.