Codefai Ltd (ASX:CDE), an Australian company that bills itself as an AI disruptor, has seen its shares soar 50% after revealing due diligence over its pending acquisition of QuantumAI Secure from Credissential is now nearing completion, bringing to a close a thorough inspection of value potential.
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“Codeifai is in the final stages of completing its comprehensive technical due diligence in respect of the [QuantumAI] acquisition and expects to satisfy all remaining conditions and finalise the acquisition in the near term following satisfaction,” CDE wrote on Thursday.
Once secured, Codefai will be the owner of a secure communications and data transfer platform capable of being tweaked to facilitate file transfers, encrypted communications and – the big ticket item – secure transfers of money.
The tech is purchasing from Credissential offers highly-secure software optionality to handle sensitive and confidential matters; QuantumAI’s transfer platform includes “advanced post-quantum cryptographic techniques… designed to be resistant to both classical and future quantum computing-driven cyber threats.”
In other words, Codefai, looking at the rapidly emerging field of quantum computing (which Microsoft declared a reality just late last year), is divining where the threat landscape will evolve – and how to get there first.
The company is aiming to establish its product on a SaaS basis, in line with standard tech industry practices, and in a world where NordVPN is advertising on daytime television, the strategic focus on next-generation cyber threats makes Codefai stand out as one of the more interesting tech nanocaps in the space.
CDE last traded at 1.2cps.
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