Scope AI Corp.(“Scope” or the “Company”) is pleased to announce that it has closed its previously announced acquisition (the “Acquisition”) of the QSE Technology (see news release dated July 9, 2024), pursuant to a technology agreement dated July 9, 2024 (the “Technology Agreement”) with Ovryde Ltd. (“Ovryde”) whereby Ovryde transferred its ownership and rights relating to delivery and application of quantum resilient entropy (the “QSE Technology”).
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The Acquisition enables Scope to provide retail and institutional customers with extremely robust security solutions that are easy to build upon or integrate into existing infrastructures. As quantum computing becomes more mainstream and rapidly advances, the potential for traditional encryption methods to be rendered obsolete grows, posing significant risks to data security worldwide. Our QSE Technology ensures that customers are prepared for the current, imminent, and ever-evolving threats posed by quantum computing, safeguarding their digital assets with state-of-the-art quantum-resilient solutions. This positions Scope at the forefront of the digital security industry, ready to address the current and future quantum threat and drive significant growth for the company.
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James Young, CEO of Scope AI Corp, commented, “The quantum cryptography market is currently at $11 billion for 2024, and is projected to grow to $126 billion by 2033.[1] This tremendous growth highlights the increasing demand for advanced quantum-resilient security solutions, and with our acquisition of QSE Technology, Scope AI is well-positioned to capitalize on this market.”
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