LONDON, Nov. 2, 2023 /PRNewswire/ -- Arqit Quantum Inc. (NASDAQ: ARQQ) (NASDAQ: ARQQW) (Arqit), a leader in quantum-safe encryption, and DETASAD, a leading provider of telecommunications and Technology Solutions in the Kingdom of Saudi Arabia, today announced that Arqit's Sovereign Symmetric Key Agreement Platform will be launched in the Kingdom of Saudi Arabia by DETASAD this month.
DETASAD, a market leader in data center and cloud services, cybersecurity and intelligence infrastructure solutions proudly announces expanding its cutting-edge partnership with Arqit, a global leader in quantum-safe cybersecurity. Together, the team is currently building a fully data-sovereign stack integrating Arqit's groundbreaking Symmetric Key Agreement solution, a technology that integrates seamlessly into existing networks to create trusted connections and secure communication links for any networked device, cloud machine or application. Secure against current and future forms of attack on encryption including from a quantum computer, the platform enhances security, resilience and the dynamic management of today's networks.
This collaborative endeavour will not only drive the development of Saudi-specific solutions atop this platform but will also pioneer a local R&D partnership. The ultimate vision is to translate locally created solutions into products for both the Saudi market and the global export market, further bolstering the Kingdom's Vision 2030 alongside supporting the UK Government's National Cyber Strategy. DETASAD are looking forward to making this unique proposition available to their customers commercially in the next few weeks and are happy to demonstrate the capabilities protecting their customer's businesses.
Under this innovative alliance, DETASAD and Arqit are planning to integrate Arqit technology into DETASAD's MadeinSaudi Smart Capacity Management to deliver state-of-the-art, locally-developed cybersecurity to every endpoint - be it satellite or any other platform within the DETASAD edge cloud.
"From this month, customers in the Kingdom of Saudi Arabia and across the region will be able to benefit from enhanced security and resilience against cyber attacks, delivered by DETASAD using Arqit's unique Symmetric Key Agreement Platform" said David Williams, Arqit Founder, Chairman and CEO. "With the increasing threat and proliferation of connected devices, Arqit's crypto agile technology offers governments and enterprises the ability to immediately benefit from higher standards of network data and information assurance, sustainable into the quantum era."
"At DETASAD, we are excited to embark on this transformative journey with Arqit," said Felix Wass, President & CEO. "Our partnership is more than just a technological alliance – we are setting out to revolutionize with a fully data-sovereign Symmetric Key Agreement Platform. We are not only bringing technology to the Kingdom of Saudi Arabia but will complement it and build a MadeInSaudi portfolio for the global markets."
"I am delighted to welcome this important announcement" said Juliette Wilcox, the UK Government's Cyber Security Ambassador. "Companies such as Arqit are leading the way in demonstrating how the UK's cyber expertise can enhance cyber capabilities across Saudi Arabia, helping to further strengthen security across the Kingdom's cyberspace."
Notes to Editors
The announcement was made at the British Embassy in Riyadh, Wednesday 31 October, at an event hosted by Juliette Wilcox, the UK Government's Cyber Security Ambassador, ahead of the start of the Global Cybersecurity Forum. Arqit Founder, Chairman and CEO David Williams and DETASAD President and CEO Felix Wass were both in attendance.
In June 2023, Arqit and DETASAD announced a Strategic Teaming Agreement to collaborate on creating sovereign security solutions and services (Arqit, Arqit and DETASAD announce Strategic Teaming Agreement, 12 June 2023, link).
About Arqit
Arqit supplies a unique Symmetric Key Agreement Platform-as-a-Service which makes the communications links of any networked device, cloud machine or data at rest secure against both current and future forms of attack on encryption – even from a quantum computer. Arqit's Symmetric Key Agreement Platform delivers a lightweight software agent that allows devices to create encryption keys locally in partnership with any number of other devices. The keys are computationally secure and operate over zero trust networks. It can create limitless volumes of keys with any group size and refresh rate and can regulate the secure entrance and exit of a device in a group. The agent is lightweight and will thus run on the smallest of end point devices. The Product sits within a growing portfolio of granted patents but also works in a standards compliant manner which does not oblige customers to make a disruptive rip and replace of their technology. 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
About DETASAD
DETASAD is a Pioneer Solutions Provider of Technology Solutions & 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 "93.55%" also DETASAD offers a comprehensive range of offering solutions, including Satellite, Cloud, Connectivity, Intelligent Infrastructure, Information Security, Data Center, AI & IoT Solutions. For more information, visit www.detasad.com.
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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 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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