LONDON, Aug. 2, 2023
/PRNewswire/ -- Arqit Quantum Inc. (Nasdaq: ARQQ, ARQQW) ("Arqit"),
a leader in quantum-safe encryption, and Advanced International
Electronic Equipment Company WLL (AIEE), a leading provider of
advanced communication solutions and support services across the
Middle East, today announced the
purchase of a licence for QuantumCloud™, Arqit's Symmetric Key
Agreement Platform.
Under the deal, AIEE will harness Arqit's Symmetric Key
Agreement Platform to offer unparalleled levels of resilience,
security and privacy across open and closed networks, protecting
customers from both current and future cyber threats including
spoofing, harvesting and tampering. This important partnership
builds on AIEE's existing services that protect and manage data,
communications, devices, sensors and network infrastructures across
governments, critical infrastructure and commercial
enterprises.
The threat surface facing governments and enterprises is
expanding with the rapid advancement of computing technology and
the actions of cyber adversaries, which is leaving traditional
encryption methods vulnerable to cyber attacks. QuantumCloud™ is
crypto agile and simple to integrate and scale into existing
networks. It forms both a zero trust and split trust network,
creating encryption keys at any endpoint and removing the risks
associated with key distribution. QuantumCloud™ protects against
todays cyber vulnerabilities and the future quantum threat,
securing information in transit and at rest from applications, to
the cloud, and from IoT/phone to gateways.
David Williams, Arqit Founder,
Chairman and CEO said:
"Governments and enterprises are taking urgent action to ensure
stronger resilience against cyber threats as they seek to remove
both spoofing and the quantum threat from their risk registers.
This partnership with AIEE will see Arqit's unique Symmetric Key
Agreement Platform deployed to deliver the enhanced protection
against cyber attacks required by their customers across the
region."
Simon St Paul, AIEE Managing
Director said:
"We are delighted to sign this licence agreement with Arqit and
to work together on delivering enhanced protection for the advanced
communication solutions we provide to customers across the
Middle East region."
About Arqit
Arqit supplies a unique quantum safe encryption
Platform-as-a-Service which makes the communications links or data
at rest of any networked device or cloud machine secure against
current and future forms of attack – even from a quantum computer.
Arqit's product, QuantumCloud™, enables any device to download a
lightweight software agent, which can create encryption keys in
partnership with any number of other devices. The keys are
computationally secure, optionally one-time use and zero trust.
QuantumCloud™ can create limitless volumes of keys in limitless
group sizes and can regulate the secure entrance and exit of a
device in a group. The addressable market for QuantumCloud™ is
every connected device. Arqit was recently awarded the Innovation
in Cyber award at the UK National Cyber Awards and Cyber Security
Software Company of the Year Award at the UK Cyber Security Awards.
https://arqit.uk
About AIEE
AIEE was formed in 1990 to provide high level engineering
support for National communication and IT networks across the
Middle East region from its
headquarters based in Kuwait.
Since its formation AIEE has delivered some of the most advanced
National networks in the region which support multiple sectors
ranging from Defence to Oil. These networks provide vital
communications for public safety users and National Infrastructure
and require the highest level of protection against new and
advanced cyber threats.
This cooperation with Arqit will allow AIEE to provide the
highest level of protection commercially available on a local basis
to its wide range of customers helping to harden networks against
present and future cyber threats. AIEE was the first regional
company to export technical services under ISO 9001
certification. https://www.aiee.com
Caution About Forward-Looking Statements
This communication includes forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. All statements, other than statements of historical facts,
may be forward-looking statements. These forward-looking statements
are based on Arqit's expectations and beliefs concerning future
events and involve risks and uncertainties that may cause actual
results to differ materially from current expectations. These
factors are difficult to predict accurately and may be beyond
Arqit's control. Forward-looking statements in this communication
or elsewhere speak only as of the date made. New uncertainties and
risks arise from time to time, and it is impossible for Arqit to
predict these events or how they may affect it. Except as required
by law, Arqit does not have any duty to, and does not intend to,
update or revise the forward-looking statements in this
communication or elsewhere after the date this communication is
issued. In light of these risks and uncertainties, investors should
keep in mind that results, events or developments discussed in any
forward-looking statement made in this communication may not occur.
Uncertainties and risk factors that could affect Arqit's future
performance and cause results to differ from the forward-looking
statements in this release include, but are not limited to: (i) the
outcome of any legal proceedings that may be instituted against the
Arqit related to the business combination, (ii) the ability to
maintain the listing of Arqit's securities on a national securities
exchange, (iii) changes in the competitive and regulated industries
in which Arqit operates, variations in operating performance across
competitors and changes in laws and regulations affecting Arqit's
business, (iv) the ability to implement business plans, forecasts,
and other expectations, and identify and realise additional
opportunities, (v) the potential inability of Arqit to convert its
pipeline into contracts or orders in backlog into revenue, (vi) the
potential inability of Arqit to successfully deliver its
operational technology, (vii) the risk of interruption or failure
of Arqit's information technology and communications system, (viii)
the enforceability of Arqit's intellectual property, and (ix) other
risks and uncertainties set forth in the sections entitled "Risk
Factors" and "Cautionary Note Regarding Forward-Looking Statements"
in Arqit's annual report on Form 20-F (the "Form 20-F"), filed with
the U.S. Securities and Exchange Commission (the "SEC") on
14 December 2022 and in subsequent
filings with the SEC. While the list of factors discussed above and
in the Form 20-F and other SEC filings are considered
representative, no such list should be considered to be a complete
statement of all potential risks and uncertainties. Unlisted
factors may present significant additional obstacles to the
realisation of forward-looking statements.
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