Arqit announces a partnership with Dell Technologies to bring quantum-safe solutions to its customers

Rhea-AI Summary

Arqit Quantum Inc. (Nasdaq: ARQQ, ARQQW) has signed a pilot agreement with Dell Technologies to preload Arqit's QuantumCloud™ software on selected Dell hardware. This collaboration targets the U.S. Federal Government, including the Department of Defense. QuantumCloud™ is a unique solution offering quantum-safe encryption, addressing vulnerabilities in Public Key Infrastructure. The partnership aims to enhance security capabilities against quantum threats, enabling both companies to leverage their products in government sales.

Positive

• Partnership with Dell enhances market reach, targeting U.S. Federal Government.
• QuantumCloud™ offers unique quantum-safe encryption capabilities.
• Arqit's solution addresses security vulnerabilities against quantum computing threats.

Negative

• None.

ARLINGTON, Va., Dec. 13, 2022 (GLOBE NEWSWIRE) -- Arqit Quantum Inc. (Nasdaq: ARQQ, ARQQW) (“Arqit”), a leader in quantum-safe encryption announces that it has signed with Dell Technologies (“Dell”) a “Dell OEM Engineered Solutions Pilot Agreement”. Dell agrees to preload Arqit’s QuantumCloud™ software on selected Dell hardware devices, enabling Dell sales teams to sell the combined hardware and software as a single SKU to address existing and new customer needs.

The initial target market is the US Federal Government, including the Department of Defense (DoD), the Federal Civilian Agencies and the Intelligence Community. Dell sales teams will be able to offer Arqit QuantumCloud™ software and Arqit sales teams will be able to offer Dell hardware and services in their sales portfolios. 

Arqit’s QuantumCloud™ is a unique symmetric key agreement software which solves the problems of Public Key Infrastructure (PKI) and the quantum computing threat. QuantumCloud™ is the only product in the world with an independently assured security proof demonstrating that its cloud fulfilled symmetric encryption keys are zero trust and quantum-safe.

The combined solution architecture for the DoD enables Dell’s industry leading standards of excellence and quality with quantum-safe encryption capability. QuantumCloud™ is capable of protecting today against “Harvest Now, Decrypt Later” quantum computing attacks and greatly improves the security of a variety of applications, something unachievable with other post quantum cryptographic methods. With the ability to digitally rotate symmetric keys in real time and dynamically manage security groups the solution offers significant mission advantage across today’s growing threat surface.

Arqit Founder, Chairman and CEO David Williams, said: “We are honored to work with Dell, the leader in providing intrinsically secure infrastructure and devices, comprehensive threat detection and response, data protection and cyber recovery to government customers. America’s service men and women need to be assured of the benefits of stronger, simpler encryption to protect them against threats now and in future. By partnering with the very best innovator in the industry we have a great opportunity to do that in a comprehensive way.”

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. Arqit believes it is the only company in the market to have achieved Independent Assurance Review of its Security Proof demonstrating that the software can produce encryption keys which are zero trust and provably secure, i.e. permanently safe against attack from even a full scale quantum computer. This review was conducted by the GCHQ Accredited Centre of Excellence in Cyber Security at the University of Surrey. 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.

Media relations enquiries:
Arqit: contactus@arqit.uk
FTI Consulting: scarqit@fticonsulting.com

Investor relations enquiries:
Arqit: investorrelations@arqit.uk
Gateway: arqit@gatewayir.com

About Dell

Dell Technologies helps organizations and individuals build their digital future and transform how they work, live and play. The company provides customers with the industry’s broadest and most innovative technology and services portfolio for the data era.

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 which is still in development, (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 December 16, 2021 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.

FAQ

What is the significance of Arqit's agreement with Dell?

Arqit's agreement with Dell allows for the integration of its QuantumCloud™ software with Dell hardware, targeting government clients and enhancing security measures against quantum threats.

How does QuantumCloud™ improve security for the Department of Defense?

QuantumCloud™ provides quantum-safe encryption, protecting data against future quantum computing attacks, which is crucial for the Department of Defense's operational integrity.

What are the benefits of QuantumCloud™ over traditional encryption methods?

QuantumCloud™ uniquely offers zero trust and quantum-safe encryption, addressing vulnerabilities in Public Key Infrastructure and mitigating 'Harvest Now, Decrypt Later' attacks.

When was the agreement with Dell announced?

The partnership agreement between Arqit and Dell was announced on December 13, 2022.