- Hubify (HFY) has signed a partnership agreement with Australian- and U.S.-based company Internet 2.0
- Under the deal, HFY will invest $500,000 for a 4.2 per cent stake
- Internet 2.0 CEO Robert Potter says the company’s technology actively hides customers’ data in transit, hugely increasing privacy for business operations
- The partnership will enable Hubify to provide superior cyber protection to some 7000 small-to-medium enterprises at an affordable price
- Hubify shares have soared 16.3 per cent, to trade at 9.3 cents each
Hubify (HFY) has entered into a partnership agreement with Australian and U.S.-based company Internet 2.0.
HFY has offices throughout Australia and specialises in business connectivity across mobile, data, voice and cloud solutions.
Meanwhile, Internet 2.0 provides defence-grade cyber security for a variety of business markets, using a combination of proprietary technology and managed services to deliver scalable and secure solutions.
The agreement will see Hubify invest $500,000 in Internet 2.0 for 4.2 per cent equity. The sum will then be reinvested in marketing and sales to drive the company’s cyber security revenue in Australia.
Hubify also has the option to purchase up to a further $1 million in equity at the same value per share as the initial equity purchase.
The partnership will HFY to provide superior cyber protection to some 7000 small-to-medium enterprises at an affordable price, as part of its managed cyber-security services offering CyberHub.
Hubify’s CEO Victor Tsaccounis commented on the three-year agreement.
“With our existing customer base and 40-strong sales team already delivering good organic growth in our core products, we are very confident in adding incremental sales to our base,” Victor said.
“Backed by Internet 2.0, this new solution will provide defence-grade technologies and experience to customers that are increasingly connecting remotely to the cloud and across information domains,” he continued.
Internet 2.0 CEO Robert Potter elaborated on the technology’s advantages.
“We apply a unique combination of obfuscation and encryption capability that actively hides our customers’ data in transit, delivering a huge safety and privacy increase to business operations,” he said.
Internet 2.0’s international client portfolio includes the U.S. State Department and Global Affairs Canada.
Hubify shares have soared 16.3 per cent on the market this afternoon to trade at 9.3 cents at 4:56 pm AEST.