Scope Technologies Acquires Cloud Codes Expanding Authentication and Storage Ecosystem

Core Insights - Scope Technologies Corp. has acquired Plurilock Security Private Limited, known as Cloud Codes, enhancing its capabilities in secure Single Sign-On and distributed storage solutions [1][2][12] - The acquisition is immediately accretive, contributing revenue and positioning Cloud Codes' middleware as a central component of Scope's decentralized cloud infrastructure [2][5] Transaction Details - The acquisition involved a total consideration of CAD $1,780,000, which includes CAD $100,000 in cash and 4,200,000 common shares issued at a deemed price of $0.40 per share [3][4] - The shares issued are subject to a four-month resale restriction [4] Integration and Future Plans - Scope Technologies plans to rebrand Cloud Codes under the QSE name and integrate it into its product stack, with future releases expected to include quantum-secure SSO services [5][6] - The company aims to enhance its offerings with features like identity federation, multi-factor authentication, and cryptographic key rotation, targeting sectors such as banking and healthcare [6][8] Market Context - The urgency for quantum-safe identity management solutions is increasing as NIST ratifies quantum-resistant encryption standards, with leading vendors incorporating post-quantum cryptography into their products [7][8] - Scope Technologies' strategy of owning both quantum-secure infrastructure and identity lifecycle management positions it favorably against traditional SSO vendors [8][9] Cloud Codes Overview - Cloud Codes supports 270 business clients and 88,000 end-users, with a revenue of CAD $673,012 in 2025 and CAD $723,487 in 2024 [11] - The company has established a strong reputation for delivering secure identity management and storage solutions, compliant with global security standards [12]