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LONDON/AUSTIN - Quantum-safe encryption company Arqit Quantum Inc. (NASDAQ:ARQQ), a $378.61 million market cap technology firm with a strong balance sheet showing more cash than debt, has been selected as a member of the newly established Oracle Defense Ecosystem, according to a company press release issued Tuesday. According to InvestingPro data, the company has demonstrated remarkable market performance, with a 222% return over the past year.
The announcement came during the Oracle Defense Tech Summit in Austin, Texas, where Arqit’s Senior Director for Government and Defense, Sean Carnew, presented on the company’s role in protecting government and critical infrastructure data against quantum computing threats. With a current ratio of 2.45, InvestingPro analysis shows the company maintains strong liquidity to support its operational expansion.
The Oracle Defense Ecosystem aims to redefine the delivery of defense and government technology innovation globally. As part of this initiative, Arqit will gain access to Oracle’s sales support, cloud marketplace, and Secure Cloud Computing Architecture (SCCA) compliance resources.
"Joining the Oracle Defense Ecosystem puts Arqit at the heart of a global push to modernise and secure defense capabilities," said Andy Leaver, CEO of Arqit, in the statement.
Arqit’s participation is expected to expand the deployment of its SKA-Platform, a technology designed to protect data in motion, in process, and at rest, to new territories within Oracle’s network.
The Oracle Defense Ecosystem provides members with additional benefits including defense acquisition guidance, cybersecurity certification acceleration, access to Oracle NetSuite’s business management suite, and training resources.
Arqit has received multiple industry recognitions, including being named an IDC Innovator for Post-Quantum Cryptography in 2024 and winning two GSMA Global Mobile Awards at Mobile World Congress 2024.
The company’s encryption software service aims to secure communications against both current and future encryption attacks, including those from quantum computers. While the stock exhibits high volatility with a beta of 2.11, InvestingPro subscribers can access 14+ additional exclusive insights about Arqit’s financial health and market position through detailed Pro Research Reports, helping investors make more informed decisions in this dynamic sector.
In other recent news, Arqit Quantum Inc. has announced the acquisition of Ampliphae’s product portfolio and innovations team, aiming to enhance its capabilities in quantum-safe encryption. This strategic move brings Ampliphae’s Encryption Intelligence products under Arqit’s umbrella, providing organizations with tools to identify vulnerabilities and manage encryption risks. The acquisition is expected to bolster Arqit’s offerings in protecting against current and future cyber threats, including those posed by quantum computing. Andy Leaver, CEO of Arqit, highlighted the importance of this acquisition in delivering unmatched protection and advisory services globally. Trevor Graham, CEO of Ampliphae, expressed optimism about extending their mission of addressing encryption risks to a broader audience through this partnership. Arqit’s international presence means Ampliphae’s services will now be accessible to more enterprises and governments, particularly for securing sensitive data across various environments. This development follows Arqit’s recognition as an IDC Innovator for Post-Quantum Cryptography in 2024 and its ISO 27001 Standard certification, underscoring its commitment to high-security standards.
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