Reliance Global Group Inc. (NASDAQ:EZRA) shares surged 28% in premarket trading Monday after the company completed its acquisition of Enquantum Ltd., a developer of post-quantum cryptography technology.
The transaction marks the first platform acquisition under Reliance’s EZRA Scale51 operating framework and creates a pathway for the company to obtain majority ownership of Enquantum. As part of the initial phase, Reliance secured an equity stake through the conversion of a secured bridge note along with an additional cash investment tied to the first milestone payment.
The agreement outlines a series of milestone-based investment tranches that could increase Reliance’s ownership to a 51% fully diluted controlling interest, contingent on operational and commercialization targets being met. The company expects to gain majority governance rights once those milestones are achieved and funded.
Enquantum specializes in hardware-accelerated cryptographic solutions aligned with standards set by the U.S. National Institute of Standards and Technology (NIST). Its technology is designed for high-throughput environments, enabling encryption at terabit-scale speeds without compromising latency. In 2025, the company secured a patent covering FPGA-based encrypted communications using quantum-resistant methods.
The acquisition comes amid growing concern among security agencies and industry analysts about “harvest now, decrypt later” strategies, in which encrypted data is collected today with the expectation it could be decoded once quantum computing capabilities mature. NIST is currently advancing post-quantum encryption standards as part of a long-term global infrastructure transition.
“We structured a milestone-driven acquisition pathway designed to culminate in majority control ownership, and today we executed Phase I,” said Ezra Beyman, Chairman and Chief Executive Officer of Reliance Global Group.
Global cybersecurity spending is projected to surpass $300 billion annually by 2029, and Reliance believes the shift toward quantum-resilient encryption could represent a major structural evolution within the cybersecurity industry.