Benzinga | Sep 16, 2021 01:34PM EDT

Why Arqit Quantum Shares Are Surging Higher Today

Arqit Quantum Inc (NASDAQ:ARQQ) is trading significantly higher Thursday amid increased volatility after the company announced it signed a "Technology Alliance Partner Connect" agreement with Juniper Networks Inc (NYSE:JNPR) to explore network security technology that will protect against quantum security threats.

The companies said they plan to explore how network providers can apply quantum secure key-exchange mechanisms to limit interruptions and improve business resiliency.

"We are delighted to partner with Juniper to demonstrate how QuantumCloud(tm) can address the quantum security threats to networks and make networking technology safer and more secure," said David Williams, chairman and CEO of Arqit Quantum.

Arqit Quantum supplies a unique quantum encryption platform that makes the communication links of any networked device secure against multiple forms of attacks.

ARQQ Price Action: Arqit Quantum was halted for volatility during trading today.

The stock was up 17.5% at $16.70 at time of publication.