ID Quantique and SK Telecom join forces to form the global leader in quantum communications and quantum sensing technologies.
ID Quantique SA (IDQ) today announced a strategic investment plan of US$ 65 million from investor SK Telecom (NYSE:SKM), the South Korean telecom giant. The investment will strengthen ID Quantique’s position as the global leader in quantum safe cryptography and quantum sensing solutions. It will also help IDQ to continue to develop global markets and partnerships.
ID Quantique announced today a strategic investment plan of US$ 65 million from SK Telecom, intended to develop IDQ’s quantum technologies for the telecom and IoT markets.
In the hyper-connected 5G era where some 43 billion devices worldwide based on data by market research firm Gartner about expected number of connected devices in 2026 get connected through wireless networks, the importance of cybersecurity in mobile communications will rise exponentially. Against this backdrop, quantum cryptography has emerged as an essential solution for safeguarding critical information. The technology encrypts transmitted data using special quantum keys, which, according to the laws of quantum physics, are impossible to intercept or steal.
According to market research firm Market Research Media, the global quantum cryptography communications will grow into a US$ 24.75 billion industry by 2025. Macrotrends such as 5G and IoT will be major accelerators for IDQ’s quantum-safe and quantum sensing solutions in a world where exponential amounts of data will be exchanged.
IDQ has had a long term relationship with SK Telecom. In 2016 the company invested US$ 2 million in IDQ and in 2017 developed the world’s smallest (5x5mm) Quantum Random Number Generator based on technology and know-how licensed from IDQ.
As the first South Korean conglomerate to establish a quantum technology laboratory in 2011, SK Telecom has continuously invested in the development of quantum cryptography for wireless communications networks. As part of the transaction, SK Telecom’s quantum laboratory will become part of IDQ.