QeM to acquire Plurilock for C$33.8M in quantum-cybersecurity deal

Montreal-based Quantum eMotion Corp. (QeM) and Vancouver-based Plurilock Security Inc. have agreed to a C$33.8 million acquisition, combining the two companies' expertise in quantum-cybersecurity. Under the terms of the deal, Plurilock shareholders will receive C$0.084 in cash and 0.0763 QeM shares for each Plurilock share held, valuing the transaction at 100% above Plurilock's recent trading average.

The acquisition combines QeM's quantum-secure technologies with Plurilock's 25-year cybersecurity operations, which operate in Canada, the United States, and NATO. Following the closing of the deal, QeM President and CEO Francis Bellido will lead the newly formed company, with Plurilock's former CEO, Ian Paterson, serving as Executive Vice-President, and Plurilock's current CEO, Veera Singh, as Senior Vice-President.

The transaction requires approval from at least two-thirds of Plurilock shareholders at a November 2026 special meeting, as well as court and regulatory approvals from the TSXV and NYSE American.