Issued on behalf of Scope Technologies Corp.
VANCOUVER – Baystreet.ca News Commentary — With the looming threat of quantum-powered hacking abilities, businesses large and small are taking the security of their digital data more and more seriously. According to analysts at Fortune Business Insights the global cybersecurity market is set to explode to US$562.77 billion by 2032, growing at a 14.4% CAGR, as CSOs are predicting that AI-driven attacks will surge, all while preparation ramps up for near-future quantum-driven threats. Research and Markets predicts that the post-quantum cryptography sector will grow at 41.47% annually and reach US$17.7 billion by 2030, while Precedence Research projects that figure could climb to nearly US$30 billion by 2034. As these types of new cyber threats accelerate, the market is growing for cybersecurity experts building out the best lines of defence, including developments from Scope Technologies Corp. (CSE: SCPE) (OTCQB: SCPCF), A10 Networks, Inc. (NYSE: ATEN), Cloudflare, Inc. (NYSE: NET), Zscaler, Inc. (NASDAQ: ZS), and Akamai Technologies, Inc. (NASDAQ: AKAM).
At a governmental level, wheels are in motion to secure respective nations, including a new bipartisan senate bill that would create a national quantum computing cybersecurity strategy. With quantum computing quickly becoming a reality, experts are writing about how the clock is ticking on AI security in a quantum world, especially with Nvidia’s Jensen Huang declaring quantum computing is reaching an “inflection point”.
Scope Technologies Corp. (CSE: SCPE) (OTCQB: SCPCF) has entered into an Asset Purchase Agreement to acquire Plurilock Security Private Limited (“Cloud Codes”), an India-based SSO and cloud platform founded in 2011—an early, strategic step aimed at bringing quantum-resistant authentication to market, pending customary closing conditions and required exchange approvals.
The acquisition immediately strengthens Scope's market position by adding 270 business clients and 88,000 active end-users to its ecosystem. Cloud Codes brings a proven financial track record with CAD $673,012 in annual revenues for 2025 and CAD $228,131 in net income, demonstrating profitable operations that will contribute to Scope's bottom line. The company's global footprint spans India (80%), Europe (13%), and the United States (7%), providing Scope with established international distribution channels and enterprise relationships.
"By bringing Cloud Codes into the Scope Technologies family, we aim to accelerate our mission to deliver seamless, scalable, and quantum-secure authentication, entropy, and storage services," said Ted Carefoot, CEO of Scope Technologies. "With full ownership of the infrastructure, we believe we can innovate more rapidly and offer enterprise-grade services that future-proof authentication against quantum threats."
Under the agreement terms, Scope Technologies will pay Plurilock Security Inc. CAD $100,000 in cash and issue 4,200,000 common shares at a deemed price of $0.40 per share, bringing the total consideration to CAD $1,780,000. The transaction remains subject to regulatory approvals from both the TSX Venture Exchange for Plurilock and the Canadian Securities Exchange for Scope Technologies.
The strategic rationale centers on Cloud Codes' proprietary distributed storage middleware, which will become the technological backbone for QSE's decentralized cloud infrastructure. This vertical integration positions Scope to control the complete technology stack for quantum-safe authentication and storage, creating competitive advantages that traditional SSO vendors cannot match. The company plans to rebrand the Cloud Codes platform under the QSE Group ecosystem, with future releases expected to bundle quantum-secure SSO services with storage offerings targeting regulated enterprises, banking, healthcare, and organizations requiring long-term data integrity.
The timing proves particularly strategic as NIST ratified quantum-resistant encryption standards including CRYSTALS-Kyber, Dilithium, and SPHINCS+ in 2024, with additional updates continuing through 2025-2026. Market readiness is accelerating as leading vendors embed post-quantum cryptography into Zero-Trust and VPN products, highlighting urgent demand for quantum-safe identity management solutions. The global SSO market is projected to exceed US$6 billion by 2030, while post-quantum cryptography is expected to reach US$17.7 billion over the same timeframe, positioning Scope at the intersection of two explosive growth markets.
This acquisition follows the July launch of QSE Group's enhanced website at www.qse.group, featuring enterprise assessment tools like the Quantum Preparedness Assessment (QPA). Scope's core Quantum Security Entropy (QSE) platform embeds military-grade post-quantum encryption within zero-trust architecture, designed to neutralize both current cyberattacks and future "harvest now, decrypt later" quantum threats.
With quantum computing reaching what Nvidia's Jensen Huang calls an "inflection point", Scope is positioning itself ahead of a market shift that could obsolete traditional encryption within the next decade. Early movers in quantum-resistant infrastructure could capture significant market share as enterprises scramble to upgrade legacy systems.
Carefoot and CTO Sean Prescott recently demonstrated Scope's technical leadership earlier this month at the DEF CON 33 Hacking Conference in Las Vegas. Prescott's presentation at Malware Village, titled "Who Controls the Kill Switch of the Future?", outlined how quantum adversaries could soon hijack sessions, bypass encryption, and poison AI classifiers faster than current defenses can respond.
"This isn't just theoretical anymore," said Carefoot. "Quantum-powered adversaries in the near future will be able to bypass encryption, hijack sessions, and poison AI classifiers at a pace defenders have never seen. Our goal at DEF CON is to assist the security community understand these risks, and how they may impact their current cryptographic systems."
The acquisition caps a period of rapid expansion for Scope. In July, the company strengthened its executive team with former Microsoft and Electronic Arts veteran Andrew Knight as Vice-President of Product. Knight's mandate includes accelerating QSE's roadmap and enhancing product-market fit across regulated industries vulnerable to quantum threats.
Knight's appointment followed Carefoot's June elevation to CEO, a transition that shifted Scope's focus from R&D toward commercial deployment. Industry analysts view this leadership evolution as positioning Scope for the compliance-heavy enterprise market, where quantum-resistant infrastructure will likely become mandatory within this decade.
Scope has also secured the financial runway for expansion, completing a C$2.8 million financing round backed by strategic investor First Majestic Silver Corp. Proceeds are funding infrastructure scaling, strategic partnerships, global distribution expansion, and development of the QSE mobile application for iOS and Android platforms.
With planned vertical ownership of both quantum-secure infrastructure and identity lifecycle management, Scope Technologies positions itself among the first enterprises offering lag-free, post-quantum authentication at scale, potentially creating decisive platform advantages as the cybersecurity industry prepares for the post-quantum transition.
Article Sources: https://usanewsgroup.com/2024/04/26/the-currency-of-tomorrow-why-investing-in-cutting-edge-ai-recognition-tech-could-mean-big-money/
A10 Networks, Inc. (NYSE: ATEN) recently signed a North American distribution agreement with Exclusive Networks, expanding access to its AI-ready networking and security solutions.
"We place a high value on organizations that can effectively support our missions in both cybersecurity and the channel, and Exclusive Networks excels in both areas," says Phil Labas, RVP, Americas channel and alliance partners at A10 Networks. "This relationship will expand our reseller base, education and marketing abilities, and collective technical expertise, as well as support strategic use cases in security and AI across the enterprise market."
The partnership enables easier procurement and broader market penetration across U.S. and Canadian enterprise sectors. Key features include DDoS protection, bot mitigation, and advanced load balancing.
Cloudflare, Inc. (NYSE: NET) has integrated GenAI security firm Lasso into its platform to enable real-time monitoring of AI traffic across web and cloud environments.
"Securing Generative AI isn’t just about endpoints or models, it’s about protecting the entire data flow, both inputs and outputs," said Lior Ziv, Chief Technology Officer at Lasso. "Our integration with Cloudflare provides security teams with a consolidated entry-point that’ll give the organization enterprise-grade visibility and control into how GenAI is being used, enabling them to identify and address threats before they materialize."
The joint solution addresses threats such as prompt injection, data leakage, and jailbreak attempts. With seamless onboarding, Cloudflare customers gain new guardrails for governing GenAI use.
Zscaler, Inc. (NASDAQ: ZS) recently completed its acquisition of Red Canary to create a unified SOC solution driven by agentic AI. Red Canary’s threat intelligence and automation capabilities will now power Zscaler’s Zero Trust Exchange and Data Fabric platforms.
“This is a massive step forward in our mission to improve security operations, not just for our customers, but for the entire cybersecurity community,” said Brian Beyer, CEO of Red Canary. “As part of Zscaler, we’re bringing together Red Canary’s proven AI-powered threat detection and deep security operations expertise with Zscaler’s leading zero trust platform. Together, we will empower customers and partners to find and stop threats faster—dramatically reducing investigation and response times. By simplifying and unifying security operations, we’re setting a new standard for protecting against threats in an ever-changing landscape."
The move is expected to streamline detection and response while enabling managed SOC offerings.
Akamai Technologies, Inc. (NASDAQ: AKAM) and Aqua Security have teamed up to deliver an integrated solution for securing AI applications from model interaction to container runtime.
“AI applications are redefining the attack surface and it’s not just about protecting what happens inside the model, but everything around it,” said Rupesh Chokshi, SVP & GM, Application Security at Akamai Technologies. “As enterprises embrace AI to drive productivity and growth, most still lack the visibility to deploy it securely. Together with Aqua, we’re giving customers end-to-end control across the full AI lifecycle so they can innovate with speed and confidence.”
Their combined offering provides full-spectrum protection against prompt injection, data poisoning, and remote code execution. No code changes are required for enterprises to deploy the solution at scale.
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