Codeifai Limited (ASX:CDE) has this week completed its acquisition of Antenna Transfer technology from partner Credissential, with a rebranding to “QuantumAI Secure” now on the cards for the encryption tech.
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The tech it’s purchasing from Credissential offers highly-secure software optionality to handle sensitive and confidential matters; QuantumAI’s platform includes “advanced post-quantum cryptographic techniques… designed to be resistant to both classical and future quantum computing-driven cyber threats.”
CDE is paying a total of A$1.15 million in its own shares to Credissential, as well as some $150,000 in cash. “The shares issued to Credissential are subject to voluntary escrow provisions, with one-third released upon the closing of the Transaction, one-third after three months, and the final one-third after six months from the completion date,” CDE told shareholders on Monday.
“Looking forward, the Quantum AI Secure acquisition enables Codeifai to greatly expand opportunities to explore a range of new market opportunities, such as Security, Defense, Mining, Agriculture, to name a few.”
Codeifai, formerly YPB Group, continues to expand its market presence; notably, it entered a kind of partnership with Australian tech darling Canva in August last year.
CDE last traded at 0.9cps.
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