LONDON, June 20, 2024 (GLOBE NEWSWIRE) -- Arqit Quantum Inc. (Nasdaq: ARQQ, ARQQW) (Arqit), a leader in quantum-safe encryption, announces the full commercial launch of a new feature of its Symmetric Key Agreement Platform, the "Encryption Intelligence" service. Encryption Intelligence assists organizations in identifying network risks and developing mitigation plans to enhance their security posture against current and evolving cybersecurity threats. Arqit secured its first paid contract for this feature with an international telecoms network operator.
In the USA, the government required organisations (in National Security Memorandum 10) to build an inventory of cryptography used in their networks to gain an understanding of where the vulnerabilities to quantum computing attack exist and this is becoming a widespread requirement internationally. By using Arqit's Encryption Intelligence, organizations can do this in an automated manner. The product is highly complementary to Arqit Symmetric Key Agreement Platform, which is the logical solution to the problems identified by Encryption Intelligence.
David Williams, Arqit's Founder, Chairman, and CEO, stated, "To fix a problem comprehensively, you need to know where it is. Arqit Encryption Intelligence makes it very easy for CISOs to do this. Because of the Government requirement we saw rising demand for the service. We diagnose the scale of the problem, then fix it."
Notes to Editors
Call to Action
Discover how Arqit's Encryption Intelligenceservice can fortify your organization's cybersecurity.
Reference
The White Houseinstructed National Security Systems to use Symmetric Keys
"Within 180 days of the date of this memorandum, and on an ongoing basis, the Director of OMB, in consultation with the Director of CISA, the Director of NIST, the National Cyber Director, and the Director of NSA, shall establish requirements for inventorying all currently deployed cryptographic systems, excluding National Security Systems (NSS). These requirements shall include a list of key information technology (IT) assets to prioritize, interim benchmarks, and a common (and preferably automated) assessment process for evaluating progress on quantum-resistant cryptographic migration in IT systems."
About Arqit
Arqit Quantum Inc.
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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, (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 successfully deliver its operational technology, (vi) the risk of interruption or failure of Arqit's information technology and communications system, (vii) the enforceability of Arqit's intellectual property, and (viii) 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 21 November 2023 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.
