LONDON, June 12, 2023 /PRNewswire/ -- Arqit Quantum
Inc. (NASDAQ: ARQQ) (NASDAQ: ARQQW) ("Arqit"), a leader in
quantum-safe encryption, and DETASAD, a leading provider of
telecommunications and ICT services in the Kingdom of Saudi Arabia, today announced a
strategic teaming agreement to collaborate on creating sovereign
security solutions and services.
The partnership will harness the power of Arqit's QuantumCloud™
Symmetric Key Agreement Platform and DETASAD's data sovereign
cloud, cyber security and smart infrastructure solutions and
services to provide unparalleled security solutions for DETASAD
clients' infrastructure, communications, data, devices, sensors and
any type of networks across the MENA region.
The rapid advancement of computing technology and the actions of
cyber adversaries continues to expand the threat surface and make
traditional encryption methods vulnerable to various cyber attacks.
Arqit's ground breaking QuantumCloud™ is a software platform
designed to deliver crypto agility and simple integration into
existing networks. Sustainable into the quantum era, the
hyperscalable solution protects information in transit and at rest
from applications, to the cloud, to OT/IoT.
This strategic partnership delivers sovereign encryption through
DETASAD, leveraging its extensive network infrastructure, technical
expertise, and market reach, to Governments, Critical
Infrastructure and Commercial Enterprises. This collaboration will
enable DETASAD to offer its customers in the Kingdom of Saudi Arabia, and the wider region,
unparalleled levels of security and privacy, guarding against
current and future cyber threats.
Arqit's QuantumCloud™ is the world's first fully scalable
platform based symmetric key agreement platform. Being secure by
design it creates a zero trust network that creates encryption keys
at any endpoint and removes the risk of key distribution.
Commenting on the partnership, David
Williams, Arqit Founder, Chairman and CEO said, "We are
thrilled to join forces with DETASAD to address the growing demand
for enhanced protection against cyber attacks in the Kingdom of Saudi Arabia and across the
Middle East. Our symmetric key
agreement Platform is unique in enabling customers to take a major
step forward in removing spoofing and the quantum threat from their
risk registers. DETASAD's extensive experience and market
leadership make them an ideal partner to accelerate the adoption of
Arqit's QuantumCloud™. Together, we will empower businesses and
organisations across the region to stay ahead of the growing threat
landscape."
Felix Thomas Wass President &
CEO of DETASAD, stated, "As digital transformation accelerates and
threats become more sophisticated, our customers require the most
advanced and integrated cybersecurity solutions. With DETASAD's
unique end to end innovative solutions and by partnering with
Arqit, we can deliver the next generation of secure networks and
data services to safeguard our clients' information and
communications against existing and emerging cyber threats. This
collaboration will reinforce DETASAD's position as a trusted
provider of cutting-edge services and further solidify our position
as integrated #MadeInSaudi Technology company and Saudi technology
export champion."
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.
www.arqit.uk
Media relations enquiries:
Arqit: contactus@arqit.uk
Investor relations enquiries:
Arqit: investorrelations@arqit.uk
Gateway: arqit@gatewayir.com
About DETASAD
DETASAD is a Pioneer Solutions Provider of Technology services
in the Middle East region since
1982 The company delivers cutting-edge solutions and innovative
services to a diverse customer base, including government entities,
enterprises, and consumers. DETASAD consider as Saudi
National entity achieved the regulator (NCA) highest score at ECC
"100%" and the CCC "94.29%" also DETASAD offers a comprehensive
range of offering solutions , including networking, cloud services,
cybersecurity, IoT and digital transformation solutions. For more
information, visit www.detasad.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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