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Arqit Quantum Inc. has completed its business combination with Centricus Acquisition Corp., approved by shareholders on August 31, 2021. The merger finalizes on September 3, 2021, allowing Arqit to trade on Nasdaq under the ticker "ARQQ" from September 7, 2021. CEO David Williams emphasizes the importance of their QuantumCloud™ software, designed to enhance cybersecurity and create secure keys, which will be upgraded with quantum satellite technology in two years. The company has raised cash equal to twice its funding requirements, enhancing its operational capabilities.
Arqit Limited has announced a collaboration with Babcock International Group to test its QuantumCloud™ encryption technology in live defense scenarios. This partnership aims to demonstrate the product's capabilities in various operational contexts, particularly for government and defense clients. The tested applications will cover unmanned and manned aerial systems and secure maritime connectivity. With an increasing focus on quantum encryption, Arqit believes this collaboration will enhance its market position and yield substantial revenue opportunities.