Business
Quantum Computing Inc. and European-Based Assured Cyber Protection Ltd Enter into Sales and Teaming Agreement
LEESBURG, Va., Sept. 5, 2023 /PRNewswire/ -- Quantum Computing Inc. ("QCi" or the "Company") (Nasdaq: QUBT), an innovative, quantum optics and nanophotonics
About this update from Quantum Computing Inc.
[{"type":"text","content":"LEESBURG, Va., Sept. 5, 2023 /PRNewswire/ -- Quantum Computing Inc. (\"QCi\" or the \"Company\") (Nasdaq: QUBT), an innovative, quantum optics and nanophotonics technology company, today announced the signing of a strategic sales and teaming agreement with AI-empowered cybersecurity assessment, continuous detection, and mitigation company, Assured Cyber Protection Ltd (\"Recyber\").\nThe key objective of the strategic sales and teaming agreement between QCi and Recyber is to coordinate efforts to market and deliver both companies' proprietary cyber security technologies and products. This initiative is a key step in the product roadmap to achieve a Zero-Trust (as defined by the National Institute of Standards and Technology) network environment using quantum authentication and Post Quantum Cryptography solutions. The companies believe that these solutions will have a near immediate global impact on the state-of-play in cyber security.\nThe companies believe that the novel and innovative technologies they each offer are complementary and provide opportunities to deliver cutting-edge solutions in a growth area, ahead of the curve. To launch the relationship, the companies have initially identified 13 sales opportunities with large, well-known international organizations within the healthcare, education, government, and banking sectors, and have advanced cross-sector discussions with several longstanding relationships. The terms of the teaming agreement require that the party initiating a client engagement receives 10% of the gross revenue generated on the engagement, over the term of the teaming agreement, with the remaining revenue to be divided up based on the tasks and technology solutions implemented. The length of the agreement is for one year with automatic renewable terms of one-year periods.\nRecyber, based in London and Geneva, is a privately held cybersecurity company that combines automation, artificial intelligence, and advanced technology to reduce a business' cybersecurity risk by analyzing and modifying organizational and human behavior patterns and processes. Its endpoint, agent-based software platform accurately monitors, evaluates, detects, and mitigates cyber risk, resulting in a scalable and easy-to-use solution.\nThe Recyber proprietary offerings include a snapshot of an organization's cyber vulnerabilities th...