Arqit hires senior cyber security executive

Rhea-AI Summary

Arqit Quantum Inc. (NASDAQ: ARQQ, ARQQW) announced the appointment of Tracey Pretorius as SVP Cyber Security Strategy on December 15, 2022. Pretorius, formerly a partner at Google and with an 18-year tenure at Microsoft, brings extensive experience in cloud and cybersecurity strategy. CEO David Williams highlighted her role in managing partnerships, especially following recent integrations with three hyperscale vendors. The company focuses on quantum-safe encryption through its product QuantumCloud™, targeting every connected device and aiming to secure communications against future attacks.

Positive

• Hiring Tracey Pretorius is expected to bolster leadership with her extensive background in cloud and cybersecurity.
• Recent partnerships with three hyperscale vendors could enhance Arqit's market reach and product integration.
• QuantumCloud™ offers unique, quantum-safe encryption capabilities, positioning Arqit competitively in a crucial market.

Negative

• None.

LONDON, Dec. 15, 2022 (GLOBE NEWSWIRE) -- Arqit Quantum Inc. (NASDAQ: ARQQ, ARQQW) (“Arqit”), a leader in quantum-safe encryption, today announced that Tracey Pretorius has joined the company as SVP Cyber Security Strategy.

Tracey was a partner at Google driving product engineering efforts across their Consumer Trust organisation. Prior to that, she had an 18 year career at Microsoft Corporation where she held various senior positions and led global efforts to help customers benefit from a partner network that delivers world-class cloud and AI solutions. Tracey has extensive experience in cloud and cybersecurity strategy, incident response and corporate communications.

Commenting, David Williams, Arqit Founder, Chairman and CEO said, “I am delighted that someone of Tracey’s experience and reputation has joined our leadership team. Her deep knowledge of the cloud cyber security landscape will be invaluable as we build out our partnership strategies. We announced that three hyperscale vendors have launched Arqit product integrations to their global customer bases in the last week, and Tracey will be helping us to manage these and other major initiatives globally.”

Tracey Pretorius, SVP Cybersecurity Strategy at Arqit said: “The world is at an inflexion point where technology companies and their users now know that they all must upgrade their encryption. Arqit has proven that it has a product which is uniquely capable of solving the problems and has already begun to take this to scale with a very impressive roster of new platform-as-a-service customers for QuantumCloud™. I have held senior leadership roles at two trillion dollar software companies in my career, and I am very excited about the future of Arqit.”

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

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 14, 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.

FAQ

Who is Tracey Pretorius and what is her role at Arqit?

Tracey Pretorius has joined Arqit as SVP Cyber Security Strategy, bringing experience from Google and Microsoft in cloud and cybersecurity.

What are the recent developments regarding Arqit's partnerships?

Arqit announced integrations of its products with three hyperscale vendors, expanding its market presence.

What is QuantumCloud™ and its significance for Arqit?

QuantumCloud™ is Arqit's platform providing quantum-safe encryption, crucial for securing communications against future threats.

When was Tracey Pretorius appointed at Arqit?

Tracey Pretorius was appointed on December 15, 2022.

How does Tracey Pretorius' experience benefit Arqit?

Her background in cybersecurity strategy and cloud solutions is expected to strengthen Arqit's leadership and partnership strategies.