Arqit, a British company that has developed a quantum cybersecurity platform which they call QuantumCloud, has announced two separate deals with larger company to become exclusive resellers of the platform in their respective countries. QuantumCloud is a platform that will allow organizations to distributed symmetric keys for data encryption. The current distribution method will be through terrestrial means, but Arqit intends on extending this through though the launch of two satellites in 2023.
The first deal is with BT and will provide BT with exclusive reseller rights to Arqit’s products in the UK. BT has been a research partner with Arqit since 2017. The second deal is with Sumitomo that will provide them with reseller rights to the products in Japan. Arqit has announced that it intends to create 2,000 new positions in the UK as a result of these and other potential deals. Arqit recently announced that they will combine with Centricus Acquisition Corporation, a SPAC (Special Purpose Acquisition Company), to become a public entity. Associated with this transaction the entity will undertake a $400 million PIPE (Private Investment in Public Entity) sale with Sumitomo as one of the purchasers. For more about Arqit’s recent announcements, you can view a news release about the BT agreement here and another one about the Sumitomo agreement here.
May 22, 2021