Canadian Manufacturing

SCOPE AI to acquire quantum security technology

by CM Staff   

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Quantum resilient entropy is an advanced security measure designed to protect data against the future threats posed by quantum computing, ensuring that sensitive information remains secure in an increasingly digital world.

VANCOUVER — Scope AI Corp. announces that it has entered into technology agreement with Ovryde Ltd. whereby Ovryde has agreed to transfer its ownership and rights relating to delivery and application of quantum resilient entropy (the QSE Technology). Quantum resilient entropy is an advanced security measure designed to protect data against the future threats posed by quantum computing, ensuring that sensitive information remains secure in an increasingly digital world.

Key Benefits of the Acquisition:

  • Enhanced Cyber-Security Product Suite:
    • Immediate Expansion: This acquisition broadens Scope AI’s cybersecurity offerings by integrating Ovryde’s advanced quantum security technologies, providing more comprehensive solutions for clients.
    • Addressing New Threats: With the QSE Technology, Scope AI can tackle emerging quantum-computing threats, ensuring robust protection for sensitive data in transit and at rest.
  • Efficient Synergies and New Revenue Streams:
    • Faster Deployment: The integration of QSE Technology creates synergies that enable faster and more efficient deployment of solutions.
    • New Revenue Opportunities: This opens new revenue streams by catering to industries with stringent data security needs, such as finance, healthcare, and government sectors.
  • Regulatory Compliance and Future-Readiness:
    • Meeting Regulations: Helps clients comply with new and evolving regulatory standards for quantum-resistant encryption and data protection.
    • Future-Proof Solutions: Prepares businesses for future quantum-computing advancements with robust and scalable security solutions.

James Young, CEO of Scope AI Corp., stated, “We are pleased to announce the acquisition of the QSE Technology. The product suite is established, complete, and ready to onboard customers now. This acquisition enables us to provide our customers with extremely robust security solutions that are easy to integrate into existing infrastructures. With the QSE Technology, we can address the emerging threats posed by quantum computing and ensure our clients are prepared for the future of digital security.”

The QSE Technology product suite offers API-based quantum-resilient entropy as a service and encrypted cloud, on-premise, and decentralized storage solutions. At its core, the platform provides a proprietary data-pipeline that can scale vertically and horizontally to protect private, business, and government applications with highly sensitive data in transit and at rest.

Under the terms of the Technology Agreement, Scope will acquire Ovryde’s ownership and rights relating to the QSE Technology. In consideration of the QSE Technology, Scope has agreed to pay to Ovryde $400,000 and issue to Ovryde 2,800,000 common shares of the Company (the “Consideration Shares”) on closing of the transaction.

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