Quantum eMotion to acquire Plurilock Security for C$33.8M

Quantum eMotion Corp., a Montreal-based quantum-security developer, has signed an agreement to acquire Plurilock Security Inc. for approximately C$33.8 million. The proposed transaction is structured as a court-approved plan of arrangement under British Columbia’s Business Corporations Act.

The deal involves a combination of cash and shares, with the consideration valued at roughly 30 per cent cash and 70 per cent Quantum eMotion shares. Under the arrangement, each Plurilock share would receive C$0.084 in cash and 0.0763 Quantum eMotion shares.

The merger aims to integrate Plurilock’s AI-focused cybersecurity, risk analysis, and identity technology with Quantum eMotion’s quantum random number generation and cryptographic tools. Following the closing, the companies intend to implement an integration and cross-selling strategy based on customer requirements and procurement rules.