Reliance Global (NASDAQ: EZRA) has completed its acquisition of Enquantum Ltd., a company specializing in post-quantum encryption technology.
Notably, the transaction marks the first platform acquisition under Reliance’s newly introduced Scale51 operating strategy.
Unsurprisingly, investors reacted swiftly to the news. Shares of Reliance Global (NASDAQ: EZRA) surged 43.07% on Monday, closing at $0.261. Moreover, the rally extended into after-hours trading, with the stock reaching $0.297 at the time of writing — an additional 14.90% gain.
However, despite the sharp short-term move, the broader performance tells a more mixed story. Over the past week, shares have climbed 42.51%, yet the stock remains down 46.43% year-to-date. With a market capitalization of $4.99 million, Reliance Global remains a small-cap company, a segment often characterized by heightened volatility.
Milestone-Based Path to Majority Control
Importantly, the structure of the acquisition reveals a longer-term plan. Under the agreement, Reliance has established a phased pathway toward majority ownership of Enquantum.
The company initially secured an equity stake by converting a secured bridge note and providing fresh capital in the first milestone payment. This marks the opening stage of a broader investment framework.
Future funding will be deployed in tranches tied to specific operational and commercialization milestones. If achieved, those targets could increase Reliance’s ownership to 51% on a fully diluted basis, thereby granting the company majority governance rights.
Chairman and Chief Executive Officer Ezra Beyman confirmed that Phase I has been completed, describing the deal as a structured, milestone-driven route toward controlling ownership.
Positioning for the Post-Quantum Era
Strategically, the acquisition places Reliance within the rapidly evolving cybersecurity landscape.
Enquantum develops hardware-accelerated cryptographic systems aligned with standards set by the U.S. National Institute of Standards and Technology (NIST). Specifically, its technology is designed for high-throughput environments where speed and security must operate simultaneously. According to the company, its architecture can function at a terabit scale without increasing latency.
In 2025, Enquantum secured a patent covering FPGA-based encrypted communications incorporating quantum-resistant techniques — a development that underscores its technical positioning.
Meanwhile, the broader context adds urgency. Security experts have warned of “harvest now, decrypt later” strategies, in which adversaries collect encrypted data today, expecting that future quantum computers could break conventional encryption. In response, NIST is advancing post-quantum cryptographic standards, thereby initiating what many expect to be a multi-year global infrastructure transition.
Strategic Shift and Broader Market Context
Beyond the acquisition itself, the Enquantum deal also aligns with Reliance Global’s recent corporate restructuring.
Approximately one month before the deal, the company changed its Nasdaq ticker from RELI to EZRA. At the same time, it launched EZRA International Group, a division focused on acquiring controlling stakes in technology-driven businesses.
Under this framework, the new unit is targeting sectors including artificial intelligence, cybersecurity, data analytics, InsurTech, FinTech, MedTech, and digital health. Accordingly, the Enquantum transaction represents its first execution under this broader mandate.
Looking ahead, industry forecasts project that global cybersecurity spending could exceed $300 billion annually by 2029. Against this backdrop, Reliance is positioning itself within what it views as a structural shift toward quantum-resilient encryption.
Taken together, the acquisition signals more than a tactical investment. It represents an early move into a cybersecurity niche that is gaining strategic importance. As quantum computing capabilities advance, demand for stronger encryption frameworks is expected to intensify — and through Enquantum, Reliance Global aims to establish an early foothold in that transition.
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