ALD Advanced Logistics Development Ltd. (TASE: ALD) is moving forward with its plans to merge with fellow cybersecurity firm Hub Security. To that end, ALD raised $50 million from Israeli and international leading institutional investors. HUB Security has been valued at $146 million.
Founded in 1984, ALD is a leading consulting firm and software house in the field of Reliability Engineering and Analysis, Safety Analysis and Safety Management, Quality Engineering and Quality Assurance. Since 1984 ALD has been engaged in three main activities: Professional consulting; Software development; Training.
Founded in 2017 by veterans of the IDF 81 and 8200 Intelligence units CEO Eyal Moshe and CTO Andrey Laremenko, HUB Security says that it is building a customizable confidential computing cyber security platform. The company is a military-grade provider of HSM, key management and cryptographic solutions for AI and machine learning applications, zero trust, critical infrastructure, finance and blockchain security. HUB Security has developed a family of products that provide the highest level of enterprise security available on the market today.
In February Eyal Moshe said of the merger, “This is one of those rare cases where a company merger happens naturally with complete synergy. The merger with ALD will provide HUB with a global marketing infrastructure that would have taken us years to establish independently, connecting us with dozens of potential high-profile customers from the world’s leading brands, including governmental institutions, insurance conglomerates, commercial banks and others.”
Threat actors have stolen files from several official government agencies of Japan by hacking into Fujitsu’s software-as-a-service (SaaS) platform and gaining access to its systems.https://t.co/VtxAvEO1RA
— HUB Security (@hubsecurityio) June 1, 2021
Dotan Moshe, COO of ALD, added that, “HUB Security is an extraordinary growth engine that is working to build on top of the reliable business infrastructure we have spent the last 36 years developing, including close relationships with global brands. This partnership is a classic merger between a stable business infrastructure and an innovative growth engine –– addressing the unmet needs of our global customer base.”