HUB Cyber Security Ltd. announced that it has signed a letter of intent for a financing and services agreement and strategic collaboration agreement with Blackswan Technologies, a top-tier enterprise AI company based in the United States. This strategic alliance heralds the commencement of a project in partnership with one of the Big4 Professional Services firms and their esteemed end customer, a globally renowned major banking group. The two companies are exploring the possibility of a potential merger. Renowned for its cutting-edge AI applications, the collaborating Blackswan Technologies delivers a robust suite of cognitive computing capabilities that empower financial institutions and data-driven organizations. With a proven track record of providing comprehensive solutions to some of the world's largest Professional Services Integrators and financial institutions, including major banks, this supplier stands at the forefront of technological innovation. This collaboration, emphasizing digital transformation, is bolstered by Hub Security's expertise in cyber protection. Together, the two companies aim to revolutionize the banking sector across various regulatory domains. The primary objectives include streamlining operations, reducing ownership costs, and eliminating the need for data lakes and ETL (Extract, Transform, Load) processes. Hub Security's cutting-edge solutions will provide an additional
layer of protection to critical processes, ensuring the security of the customer's most valuable assets. The collaboration will integrate Hub Security's protection of critical processes and its "Crown Jewels" asset protection.