ALM.L Share News (ALM)

LONDON (Alliance News) - Allied Minds PLC said Friday that it has formed a data encryption company, Whitewood Encryption Systems Inc, which it will fund through its cybersecurity platform company Foreland Technologies.

The company has been founded on technologies created at the Los Alamos National Laboratory, it said, from which it has also licensed intellectual property for quantum cryptography.

Initial projects from the company are expected to include a quantum random number generator and a system of quantum key management.

Allied Minds said that Whitewood will seek to meet "growing demand for cryptography products" to protect consumers and businesses from security attacks and data leaks.

Shares in Allied Minds were trading down 1.7% at 264.81 pence Friday afternoon.

By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews

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