Centricus Acquisition Corp. (Nasdaq: CENH, CENHW, CENHU) (“Centricus”), a publicly traded special purpose acquisition company, welcomes the business updates provided to investors by Arqit Limited (“Arqit”) in recent days and Arqit’s ongoing contract announcements. Centricus’ extraordinary general meeting will be held on August 31, 2021 for its shareholders to approve its proposed business combination with Arqit, a leader in quantum encryption technology.
Arqit continues to meet or exceed previously announced milestones. The Arqit software solution was officially launched this quarter, earlier than planned, to an initial cohort of 20 blue chip customers. There is no doubt that the world needs stronger and simpler encryption. A significant number of governmental and enterprise customers have already made long term revenue commitments to Arqit, and Arqit’s pipeline of potential new business is continuously developing. Centricus shares Arqit’s view that the transparency, credibility and public nature of a US public listing will be helpful in promoting and positioning Arqit on the global stage.
Centricus is very pleased by the rapid progress Arqit has made in marketing and securing contracts for its core product. This progress is achieved both with governmental customers, where it provides a ground-breaking solution to the security layer problem known as joint all-domain command and control, as well as with industry, particularly in the telecommunications sector, where Arqit is now working with some of the world’s biggest hardware vendors and network operators, and in the financial services and automation sectors. Through this focus, Arqit continues to build a strong baseload of committed long term customers.
Arqit is unique in solving one of the most pressing technology problems of our age. An impressive and fast-growing cohort of blue chip industry and governmental customers are onboard. Upon the successful consummation of the proposed business combination, Arqit will be well placed to have the necessary tools to scale up to deliver on its business proposition.