Deals
U.K. Encryption Firm Agrees $1.4 Billion Centricus SPAC Deal
- Arqit’s technology helps secure devices from hacking attacks
- Deal will provide as much as $400 million of proceeds to Arqit
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U.K. encryption software firm Arqit Ltd. agreed to go public through a $1.4 billion merger with Centricus Acquisition Corp., the blank-check company led by former Deutsche Bank AG dealmaker Garth Ritchie.
The transaction values the combined firm at about $1 billion including debt, according to a statement Wednesday. The deal will provide as much as $400 million of proceeds to Arqit, including $70 million from a fully committed private placement to investors including Heritage Group, Richard Branson’s Virgin Orbit and Japanese trading house Sumitomo Corp.