Company news
Quantum eMotion to Acquire Plurilock, Expanding Commercial Quantum and AI Cybersecurity Platform
Published 11 October 2026
WHAT HAPPENED
Quantum eMotion agreed to acquire Plurilock Security for approximately C$33.8 million in an all-or-nothing deal consisting of 30% cash and 70% QeM shares. Plurilock shareholders will receive C$0.084 in cash and 0.0763 of a QeM share per Plurilock share, representing a 100% premium to the 20-trading-day volume-weighted average price as of September 25, 2026.
WHO IS INVOLVED
Quantum eMotion Corp, a developer of quantum-secure cybersecurity technologies trading on NYSE American, TSXV and FSE, is acquiring Plurilock Security Inc, a 25-plus-year-old cybersecurity company with hundreds of public and private sector customers. Francis Bellido will remain QeM's President and CEO, with Plurilock's Ian Paterson and Veera Singh joining as Executive Vice-President and Senior Vice-President respectively.
WHY IT MATTERS
The acquisition combines QeM's quantum-secure technology portfolio with Plurilock's existing revenue base, customer relationships, and established procurement channels across Canada, the United States and NATO. This accelerates QeM's transition from technology development to a commercial cybersecurity business while gaining a platform to cross-sell quantum-secure products as QeM's technologies advance through NIST and FIPS validation processes.
- Type
- Acquisition
- Category
- Quantum Security
- Source
- newsfilecorp.com ↗
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