SanboxAQ is acquiring Cryptosense to enhance the cybersecurity and encryption capabilities of its post-quantum cryptography solution.
SandboxAQ is a quantum computing developer that was founded at Alphabet and became an independent company last March. Only six months into its operations, SandboxAQ announced the acquisition of Cryptosense for its cybersecurity and encryption capabilities.
Cryptosense offers services to organizations dealing with compliance issues. This includes detecting and fixing potentially dangerous vulnerabilities within their systems. The company was founded in 2013 and has been serving as a cryptography management service. The company has gained massive traction over the years and currently handles 70% of interbank messaging services within the European Union.
SandboxAQ is working on post-quantum cryptography, and the acquisition of Cryptosense can enhance its efforts. Experts believe that the acquisition can accelerate the post-quantum cryptography solution.
“Rapid advances in quantum computing and AI challenge the effectiveness and performance of existing cryptography-based cybersecurity solutions”, said Jack D. Hidary, CEO of SandboxAQ. “The combined leadership, talent, and expertise that SandboxAQ and Cryptosense bring to the marketplace accelerate the deployment of more effective cryptography solutions to protect the world against the security threats of today and tomorrow.”
Cryptosense has raised a significant investment coming into the acquisition of SandboxAQ. Investors include big names such as the former CEO of Alphabet, Eric Schmidt, and Salesforce. The acquisition of Cryptosense and its existing expertise is a gold mine for SandboxAQ. Time will tell how well the acquisition does and the benefits both organizations will enjoy. Given their current goals, Cryptosense fits in perfectly to provide them with the best go-to-market path for their post-quantum cryptography solution.