Adrian Johnson
TLDR:
- HUB Cyber Security acquires QPoint Technologies, an IT services company with a cybersecurity division.
- The acquisition strengthens HUB’s capabilities in safeguarding sensitive information and expands their customer base.
Israel’s HUB Cyber Security has recently acquired QPoint Technologies, an IT services company that includes a cybersecurity division. This strategic acquisition, technology M&A deal number 87 in 2024, aligns with HUB’s mission to establish a leading global secure data fabric ecosystem. QPoint, with a diverse customer base of over 100 leading brand clients, offers solutions and consulting across various verticals, enhancing HUB’s capabilities in safeguarding sensitive information across different sectors.
With QPoint’s robust financial health, annual revenue of $26 million in fiscal year 2023, and a year-over-year customer growth rate surpassing 80%, the all-cash acquisition adds significant value to HUB. CEO Noah Hershcoviz sees this acquisition as pivotal in fortifying HUB’s cybersecurity infrastructure, enhancing operational resilience, and increasing shareholder value. The integration of QPoint marks a significant step towards establishing a more comprehensive cybersecurity framework.
Established in 2017 by veterans of the elite intelligence units of the Israeli Defense Forces, HUB Cyber Security specializes in cybersecurity solutions protecting sensitive commercial and government information. The company operates in over 30 countries and recently debuted an advanced encrypted computing solution to prevent hostile intrusions at the hardware level. With additional resources from an investment agreement in 2023, HUB is poised for rapid growth and development.
Jim Masters, Managing Editor of MSSP Alert, believes that the acquisition of QPoint by HUB Cyber Security will have a positive impact on the company’s long-term vision and commitment to enhancing cybersecurity infrastructure. As HUB continues to expand its offerings and customer base, the integration of QPoint strengthens its position as a global leader in cybersecurity solutions.
