This is SandboxAQ’s first acquisition and second transaction in its strategic investment program
Paris and Palo Alto, September 14, 2022 – SandboxAQa SaaS company providing the combined effects of AI and quantum (QA) technology to governments and the Global 1000, today announced the acquisition Cryptosens, a leading cybersecurity and encryption analysis software company. Acquisition of SandboxAQ comes just weeks after the company unveiled its Strategic Investment Program and the initial investment in evolutionQ.
The acquisition of Cryptosense complements and accelerates the deployment of SandboxAQ’s post-quantum cryptography (PQC) solutions to enterprises and government institutions worldwide. SandboxAQ’s cybersecurity products allow large enterprises to extend cryptography management across their entire IT infrastructure, giving CISOs a single, 360° view of how encryption is used across the enterprise – a essential first step in migrating to PQC.
This migration to enhanced cybersecurity is important for critical infrastructure sectors such as financial services, technology, energy, biopharma, logistics and government.
Cryptosense is used by leading technology and financial services organizations and is another NIST NCCOE partner. The combined customer relationships will help SandboxAQ bring its PQC solutions to market faster and protect these organizations and their customers against existing and emerging quantum threats, such as Store Now, Decrypt Later (SNDL) attacks.
“Rapid advances in quantum computing and AI challenge the effectiveness and performance of existing cryptography-based cybersecurity solutions. The combined leadership, talent, and expertise that SandboxAQ and Cryptosense bring to market is accelerating the deployment of more effective crypto solutions to protect the world against the security threats of today and tomorrow,” said Jack D. Hidary, CEO of SandboxAQ. “The caliber of the Cryptosense team is recognized throughout the information security community, under the leadership of Graham Steel and Clément Jeanjean. We welcome Cryptosense to the SandboxAQ family and look forward to our continued success as one company.
Dr. Graham Steel, Founder of Cryptosense, added, “The complementary functionality and expertise between Cryptosense and SandboxAQ enables us to build and deliver large-scale SaaS solutions with more tactile customer service. Implementing the PQC is key to protecting the world’s sensitive data and together we will have greater impact.
Cryptosense was advised by Stifel and Hogan Lovells and SandboxAQ was advised by Morgan Lewis.
SandboxAQ is an enterprise SaaS company, providing solutions at the crossroads of AI and Quantum (QA) technology to solve some of the world’s toughest problems. The core team and inspiration for the business formed at Alphabet Inc., which became an independent company backed by growth capital in 2022. For more information, visit www.sandboxaq.com.
Cryptosense is an enterprise SaaS company that helps organizations identify and catalog cryptography exploited in their applications and infrastructure. Some of the world’s largest technology and financial services companies use Cryptosense for their cybersecurity needs. Cryptosense announced a $4.8 million funding round in May 2021 backed by Amadeus Capital Partners, Elaia Partners, and BGV.
Eric Sokolsky, Sparkpr