Market Newsdesk

KITCHENER, ON, Nov. 30, 2020 /PRNewswire/ – Quarterhill Inc. (“Quarterhill” or the “Company”) (TSX: QTRH) (OTCQX: QTRHF), today announces that PricewaterhouseCoopers LLP (“PwC”) have, at the request of the Company, resigned as Quarterhill’s auditors, effective November 30, 2020. Accordingly, the Board of Directors has appointed Ernst & Young Canada LLP (“EY”) as auditors of the Company until the next Annual General Meeting of shareholders.

There were no reservations or modified opinions in PwC’s reports in connection with the financial statements relating to the relevant period during which PwC was the Company’s auditor. In addition, there are no “reportable events” (as the term is defined in National Instrument 51-102 – Continuous Disclosure Obligations) between the Company and PwC.

The resignation of PwC as auditors of the Company has been approved by Quarterhill’s Board of Directors and Audit Committee. In accordance with National Instrument 51-102, the Company’s Audit Committee and Board of Directors have reviewed the Notice of Change of Auditors, together with the letter from PwC and the letter from EY, and have filed these documents at www.sedar.com.

About Quarterhill
Quarterhill is a growth-oriented company in the Intellectual Property and Intelligent Transportation System (ITS) industries. Our goal is to pursue an investment strategy that capitalizes on attractive market trends in both ITS and its adjacent markets. Quarterhill is listed on the TSX under the symbol QTRH and on the OTCQX Best Market under the symbol QTRHF. For more information: www.quarterhill.com

Forward-looking Information

This news release contains forward-looking statements regarding Quarterhill and its business. Forward-looking statements are based on estimates and assumptions made by Quarterhill in light of its experience and its perception of historical trends, current conditions, expected future developments and the expected effects of new business strategies, as well as other factors that Quarterhill believes are appropriate in the circumstances. The forward-looking events and circumstances discussed herein may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting Quarterhill, including: potential risks and uncertainties relating to the ultimate geographic spread of the novel coronavirus (“COVID-19”); the severity of the disease; the duration of the COVID-19 outbreak; actions that may be taken by governmental authorities to contain the COVID-19 outbreak or to treat its impact; the potential negative impacts of COVID-19 on the global economy and financial markets and any resulting impact on Quarterhill and/or its business. Other factors include, without limitation, the risks described in Quarterhill’s February 27, 2020 annual information form for the year ended December 31, 2019 (the “AIF”). Copies of the AIF may be obtained at www.sedar.com. Quarterhill recommends that readers review and consider all of these risk factors and notes that readers should not place undue reliance on any of Quarterhill’s forward-looking statements. Quarterhill has no intention, and undertakes no obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

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SOURCE Quarterhill Inc.

SAN FRANCISCO, Nov. 30, 2020 /PRNewswire/ — DoorDash, Inc. (“DoorDash”) today announced that it has launched the roadshow for the initial public offering of its Class A common stock. DoorDash is offering 33,000,000 shares of its Class A common stock. The initial public offering price is expected to be between $75.00 and $85.00 per share. The shares are expected to trade on the New York Stock Exchange under the symbol “DASH.”

Goldman Sachs & Co. LLC and J.P. Morgan are acting as lead book-running managers for the proposed offering. Barclays, Deutsche Bank Securities, RBC Capital Markets, and UBS Investment Bank are acting as book running managers, and Mizuho Securities, JMP Securities, Needham & Company, Oppenheimer & Co. Inc., Piper Sandler, and William Blair are acting as co-managers for the proposed offering.

The offering will be made only by means of a prospectus. Copies of the preliminary prospectus relating to this offering, when available, may be obtained from: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at (866) 471-2526 or by email at [email protected]; or J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by telephone at 866-803-9204 or by email at [email protected].

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About DoorDash

DoorDash is a technology company that connects customers with their favorite local and national businesses in more than 4,000 cities and all 50 states across the United States, Canada, and Australia. Founded in 2013, DoorDash empowers merchants to grow their businesses by offering on-demand delivery, data-driven insights, and better in-store efficiency, providing delightful experiences from door to door. By building the last-mile delivery infrastructure for local cities, DoorDash is bringing communities closer, one doorstep at a time.

Press Contact

[email protected]

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SOURCE DoorDash

NESS ZIONA, Israel, Nov. 30, 2020 /PRNewswire/ — Meat-Tech 3D Ltd. (TASE: MEAT) announced today that it has succeeded for the first time in printing a cultured beef fat structure composed of bovine fat cells and bio ink, which were grown and developed from stem cells in the Company’s laboratories. The printing of beef fat and the bio ink created an edible structure that reached a height of 10 mm. This represents a step forward for Meat-Tech’s technology, following the Company’s previous milestone of 3D printing a uniform, thin tissue of meat derived from stem cells.

Meat-Tech is an international company developing technologies to produce cultured meat products. The Company is developing technologies for the next generation of cultured meat food products by leveraging 3D digital printing technology.

This achievement of this milestone represents another advancement towards the development of high-throughput 3D tissue printing technology for clean meat tissue. Ultimately, Meat-Tech believes such 3D bioprinting will include additional components, such as muscle cells. The real meat tissue based upon the cell growth, cell differentiation and bio printing technologies that Meat-Tech is developing is designed to leverage cellular agriculture while avoiding the need to raise and slaughter or otherwise harm animals.

As part of the Company’s program to develop an industrial process for growing and 3D bioprinting meat tissue without slaughtering animals, the company has developed a number of printable materials, including an edible bio ink that helps to create an accurate, digitally-printed structure by supporting 3D printed cells.

About Meat-Tech:

Meat-Tech is developing a novel bio printing process designed to create tissue from edible raw meat components. Meat-Tech is developing methods, processes and machines for growing, producing, and 3D-printing real meat. We believe the Company is the first in the world to 3D-print edible bio-inks, resulting in living tissue made up of a number of different bovine cell types. The Company has technology, knowledge and experience in the application of tissue engineering practices for the production of fat and muscle for food consumption as well as capabilities for 3D-bioprinting a combination of living cells, including the use of growth factors and other biological materials to produce cultured meat that mimics the characteristics of natural tissue.

The Company is using advanced technologies  to conduct cell proliferation, targeting production of specific food products. Meat-Tech aims to develop an industrial process aimed at providing commercially-scaled production volumes.

COMPANY / INVESTOR CONTACT:

Eran Gabay, Partner, Director of Strategy
Gelbart-Kahana Investor Relations: [email protected]

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SOURCE Meat-Tech 3D Ltd.

NEWPORT BEACH, Calif., Nov. 30, 2020 /PRNewswire/ — Chipotle Mexican Grill (NYSE: CMG) today announced it is testing Smoked Brisket at 64 restaurants throughout Cincinnati and part of Sacramento, California. Chipotle’s latest protein features smoked beef brisket that is seasoned with a special spice blend, seared on the grill every day, and finished with a sauce made with Mexican peppers. 

“We’re thrilled to offer a new, responsibly-sourced brisket that tastes terrific and meets our industry leading Food with Integrity standards,” said Chris Brandt, Chief Marketing Officer. “The richness of our real Smoked Brisket recipe delivers a craveable new flavor to our guests as we continue to innovate across our menu.”

Chipotle is leveraging its stage-gate process to listen, test and learn from customer feedback, and iterate before deciding on a national launch strategy. In 2019 and 2020, three Chipotle menu items, Carne Asada, Supergreens Salad Mix and Queso Blanco, successfully completed the stage-gate process and were rolled out on a national scale. In July, Chipotle announced it is testing Cilantro-Lime Cauliflower Rice at restaurants in Denver and throughout Wisconsin, in addition to a digital-only quesadilla in Cleveland and Indianapolis. The company also introduced new certified organic Lemonades, Aguas Frescas, and Teas from farmer-founded Tractor Beverage Co. across all U.S. restaurants in late July.

Brisket will be available for in-restaurant, online, mobile, and contactless delivery orders at participating locations for a limited time.

ABOUT CHIPOTLE
Chipotle Mexican Grill, Inc. (NYSE: CMG) is cultivating a better world by serving responsibly sourced, classically-cooked, real food with wholesome ingredients without artificial colors, flavors or preservatives. Chipotle had over 2,700 restaurants as of September 30, 2020, in the United States, Canada, the United Kingdom, France and Germany and is the only restaurant company of its size that owns and operates all its restaurants. With more than 94,000 employees passionate about providing a great guest experience, Chipotle is a longtime leader and innovator in the food industry. Chipotle is committed to making its food more accessible to everyone while continuing to be a brand with a demonstrated purpose as it leads the way in digital, technology and sustainable business practices. Steve Ells, founder and former executive chairman, first opened Chipotle with a single restaurant in Denver, Colorado in 1993. For more information or to place an order online, visit WWW.CHIPOTLE.COM.

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SOURCE Chipotle Mexican Grill, Inc.

VANCOUVER, BC, Nov. 30, 2020 /CNW/ – The following issues have been halted by IIROC:

Company: Serengeti Resources Inc.

TSX-Venture Symbol: SIR

All Issues: Yes

Reason: At the Request of the Company Pending News

Halt Time (ET): 7:49 AM

IIROC can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.

SOURCE Investment Industry Regulatory Organization of Canada (IIROC) – Halts/Resumptions

RICHMOND, Va. and BEIJING, Nov. 30, 2020 /PRNewswire/ — Genworth Financial, Inc. (NYSE: GNW) and China Oceanwide Holdings Group Co. Ltd (Oceanwide) announced that their transaction has received confirmation of the extension of the acceptance of filing from the National Development and Reform Commission (NDRC) in China.  With NDRC’s re-approval, Oceanwide will now move forward with the few remaining regulatory steps required to close the transaction, including seeking clearance for currency conversion and transfer of the balance of the transaction funds from SAFE and obtaining confirmation from the Delaware Department of Insurance that the acquisition of Genworth’s Delaware-domiciled insurer may proceed under the existing approval.

To allow additional time for Oceanwide to complete these final steps, the parties are working on an extension of the waiver and agreement of each party’s right to terminate their previously announced merger agreement until not later than Dec. 31, 2020. The parties are also working on a 90-day extension of each of the three $500 million tranches under the post-close Oceanwide capital plan. 

“We are encouraged that Oceanwide continues to make progress on the remaining steps needed to complete the transaction,” said Tom McInerney, Genworth president and CEO.  “Although I am disappointed we could not close by November 30, we are hopeful that we can close in the first half of December, but have agreed to an end date of December 31, 2020 to allow more time for the remaining regulatory approvals to be achieved.”

“Securing these last few remaining regulatory approvals and finalizing our financing are important milestones in our efforts to close our transaction and fulfill our vision of bringing long term care insurance to China,” said LU Zhiqiang, chairman of Oceanwide.  “We look forward to working with Genworth to complete the remaining steps required to close the transaction in December.”

The transaction previously received all U.S. regulatory approvals needed to close the transaction, subject to confirmation from the Delaware Department of Insurance that the acquisition of Genworth’s Delaware-domiciled insurer may proceed under the existing approval.  With respect to other recent regulatory matters: FINRA has confirmed that the transaction may close under FINRA Rule 1017(c) prior to receiving its final approval; the GSEs have re-approved the transaction, subject to certain conditions, and the parties will seek their non-objection to the adjusted capital contributions schedule; and the North Carolina Department of Insurance extended its previously-granted approval through January 24, 2021.  Oceanwide now needs to receive clearance for currency conversion and transfer of funds from SAFE.  All other required approvals and clearances have been secured.

About Genworth Financial
Genworth Financial, Inc. (NYSE: GNW) is a Fortune 500 insurance holding company committed to helping families achieve the dream of homeownership and address the financial challenges of aging through its leadership positions in mortgage insurance and long term care insurance. Headquartered in Richmond, Virginia, Genworth traces its roots back to 1871 and became a public company in 2004. For more information, visit genworth.com.

From time to time, Genworth releases important information via postings on its corporate website. Accordingly, investors and other interested parties are encouraged to enroll to receive automatic email alerts and Really Simple Syndication (RSS) feeds regarding new postings. Enrollment information is found under the “Investors” section of genworth.com. From time to time, Genworth’s publicly traded subsidiary, Genworth Mortgage Insurance Australia Limited, separately releases financial and other information about its operations. This information can be found at  http://www.genworth.com.au.

About Oceanwide
Oceanwide is a privately held, family owned international financial holding group founded by LU Zhiqiang. Headquartered in Beijing, China, Oceanwide’s well-established and diversified businesses include operations in financial services, energy, technology information services, culture and media, and real estate assets globally, including in the United States.

Oceanwide is the controlling shareholder of the Shenzhen-listed Oceanwide Holdings Co., Ltd. and Minsheng Holdings Co. Ltd.; the Hong Kong-listed China Oceanwide Holdings Limited and China Tonghai International Financial Limited (formerly known as Quam Limited); the privately-held International Data Group, Minsheng Securities, Minsheng Trust, and Asia Pacific Property & Casualty Insurance.  China Oceanwide also is a minority investor in Shanghai-listed China Minsheng Bank and Hong Kong-listed Legend Holdings. In the United States, Oceanwide has real estate investments in New York, California, and Hawaii. Businesses controlled by Oceanwide have more than 10,000 employees globally.

Cautionary Note Regarding Forward-Looking Statements
This communication includes certain statements that may constitute “forward-looking statements” within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements may be identified by words such as “expects,” “intends,” “anticipates,” “plans,” “believes,” “seeks,” “estimates,” “will” or words of similar meaning and include, but are not limited to, statements regarding the closing of the transaction with Oceanwide, Oceanwide’s funding plans and transactions Genworth is pursuing to address its near-term liabilities and financial obligations, which may include additional debt financing and/or transactions to sell a percentage of its ownership interests in its mortgage insurance businesses. Forward-looking statements are based on management’s current expectations and assumptions, which are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Actual outcomes and results may differ materially from those in the forward-looking statements and factors that may cause such a difference include, but are not limited to, risks and uncertainties related to: (i) the risk that Oceanwide will be unable to complete funding and that the transaction with Oceanwide may not be completed in a timely manner or at all, which may adversely affect Genworth’s business and the price of Genworth’s common stock, and the risk that Genworth will be unable to address its near-term liabilities and financial obligations, including the risks that it will be unable to raise additional debt financing and/or sell a percentage of its ownership interest in its U.S. mortgage insurance business to repay the promissory note to AXA S.A. or refinance its debt maturing in 2021 or beyond; (ii) the parties’ inability to obtain regulatory approvals, clearances or extensions, or the possibility that such regulatory approvals or clearances may further delay the transaction with Oceanwide or will not be received prior to December 31, 2020 (and either or both of the parties may not be willing to further waive their end date termination rights beyond December 31, 2020) or that materially burdensome or adverse regulatory conditions may be imposed or undesirable measures may be required in connection with any such regulatory approvals, clearances or extensions (including those conditions or measures that either or both of the parties may be unwilling to accept or undertake, as applicable) or that with continuing delays, circumstances may arise that make one or both parties unwilling to proceed with the transaction with Oceanwide or unable to comply with the conditions to existing regulatory approvals or one or both of the parties may be unwilling to accept any new condition under a regulatory approval; (iii) the risk that the parties will not be able to obtain other regulatory approvals, approvals, clearances or extensions, including in connection with a potential alternative funding structure or the current geo-political environment, or that one or more regulators may rescind or fail to extend existing approvals, or that the revocation by one regulator of approvals will lead to the revocation of approvals by other regulators; (iv) the parties’ inability to obtain any necessary regulatory approvals, clearances or extensions for the post-closing capital plan, and/or the risk that a condition to the closing of the transaction with Oceanwide may not be satisfied or that a condition to closing that is currently satisfied may not remain satisfied due to the delay in closing the transaction with Oceanwide or that the parties are unable to agree upon a closing date following receipt of all regulatory approvals and clearances; (v) potential legal proceedings that may be instituted against Genworth related to the transactions with Oceanwide; (vi) the risk that the proposed transaction disrupts Genworth’s current plans and operations as a result of the announcement and consummation of the transaction; (vii) potential adverse reactions or changes to Genworth’s business relationships with clients, employees, suppliers or other parties or other business uncertainties resulting from the announcement of the transaction or during the pendency of the transaction, including but not limited to such changes that could affect Genworth’s financial performance; (viii) certain restrictions during the pendency of the transaction that may impact Genworth’s ability to pursue certain business opportunities or strategic transactions; (ix) continued availability of capital and financing to Genworth before the consummation of the transaction; (x) further rating agency actions and downgrades in Genworth’s financial strength ratings; (xi) changes in applicable laws or regulations; (xii) Genworth’s ability to recognize the anticipated benefits of the transaction; (xiii) the amount of the costs, fees, expenses and other charges related to the transaction; (xiv) the risks related to diverting management’s attention from Genworth’s ongoing business operations; (xv) the impact of changes in interest rates and political instability; and (xvi) other risks and uncertainties described in the Definitive Proxy Statement, filed with the SEC on January 25, 2017, and Genworth’s Annual Report on Form 10-K, filed with the SEC on February 27, 2020. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. Consequences of material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, business disruption, operational problems, financial loss, legal liability to third parties and similar risks, any of which could have a material adverse effect on Genworth’s consolidated financial condition, results of operations, credit rating or liquidity. Accordingly, we caution you against relying on any forward-looking statements. Further, forward-looking statements should not be relied upon as representing Genworth’s views as of any subsequent date, and Genworth does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

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SOURCE Genworth Financial, Inc.

DETROIT, Nov. 30, 2020 /PRNewswire/ — 

• Global supply agreement focused on GM’s Hydrotec fuel cell system for Nikola’s Class 7/8 trucks
• Non-binding MoU replaces previous transaction announced Sept. 8, 2020 

General Motors Co. (NYSE: GM) today announced it has signed a non-binding memorandum of understanding with Nikola Corporation for a global supply agreement to provide its Hydrotec fuel cell system for Nikola’s Class 7/8 semi-trucks. The MoU replaces the previous transaction announced Sept. 8, 2020.

“This supply agreement recognizes our leading fuel cell technology expertise and development,” said Doug Parks, GM executive vice president of Global Product Development, Purchasing and Supply Chain. “Providing our Hydrotec fuel cell systems to the heavy-duty class of commercial vehicles is an important part of our growth strategy and reinforces our commitment toward an all-electric, zero-emissions future.”

Under the potential agreement referenced in the MoU, GM would engineer its Hydrotec fuel cell system to the specifications mutually agreed upon by both companies. GM and Nikola will discuss the appropriate scope of services that GM would provide for the integration of the fuel cell system into Nikola’s vehicles. It is expected that the potential arrangement would be cost plus, and that Nikola would pay upfront for the capital investment for the capacity. GM and Nikola will also discuss the potential of a supply agreement for GM’s versatile Ultium battery system for Nikola’s Class 7/8 trucks.

GM’s Hydrotec fuel cell system will be engineered at its Michigan technical facilities in Pontiac and Warren and manufactured at its Brownstown Charter Township battery assembly plant.

General Motors (NYSE:GM) is a global company committed to delivering safer, better and more sustainable ways for people to get around. General Motors, its subsidiaries and its joint venture entities sell vehicles under the Chevrolet, Buick, GMC, Cadillac, Baojun and Wuling brands. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety and security services, can be found at https://www.gm.com.  

Cautionary Note on Forward-Looking Statements: This press release may include “forward-looking statements” within the meaning of the U.S. federal securities laws. Forward-looking statements are any statements other than statements of historical fact. Forward-looking statements represent our current judgment about possible future events and are often identified by words such as “aim,” “anticipate,” “appears,” “approximately,” “believe,” “continue,” “could,” “designed,” “effect,” “estimate,” “evaluate,” “expect,” “forecast,” “goal,” “initiative,” “intend,” “may,” “objective,” “outlook,” “plan,” “potential,” “priorities,” “project,” “pursue,” “seek,” “should,” “target,” “when,” “will,” “would,” or the negative of any of those words or similar expressions. In making these statements, we rely upon assumptions and analysis based on our experience and perception of historical trends, current conditions and expected future developments, as well as other factors we consider appropriate under the circumstances. We believe these judgments are reasonable, but these statements are not guarantees of any future events or financial results, and our actual result may differ materially due to a variety of important factors, many of which are described in our Annual Report on Form 10-K, our subsequently filed Quarterly Reports on Form 10 Q, and our other filings with the U.S. Securities and Exchange Commission. We caution readers not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly or otherwise revise any forward-looking statements, whether as a result of new information, future events or other factors that affect the subject of these statements, except where we are expressly required to do so by law.

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SOURCE General Motors Co.

ARMONK, N.Y., Nov. 30, 2020 /PRNewswire/ — IBM (NYSE: IBM) today announced a series of cloud services and technologies designed to help clients maintain the highest available level of cryptographic key encryption protection to help protect existing data in the cloud¹ and prepare for future threats that could evolve with advances in quantum computing. Pioneered by IBM Research scientists, the company is now offering quantum-safe cryptography support for key management and application transactions in IBM Cloud®, making it the industry’s most holistic quantum-safe cryptography approach to securing data available today.

The new capabilities include:

• Quantum Safe Cryptography Support: Through the use of open standards and open source technology, this service enhances the standards used to transmit data between enterprise and Cloud, helping to secure data by using a quantum-safe algorithm.
• Extended IBM Cloud Hyper Protect Crypto Services: New capabilities are available to enhance privacy of data in cloud applications, where data sent over the network to cloud applications and sensitive data elements like credit card numbers, are stored in a database that can be encrypted at application-level – supported by the industry’s highest level of cryptographic key encryption protection with ‘Keep Your Own Key’ (KYOK) capability.

“As our reliance on data grows in the era of hybrid cloud and quantum computing capabilities advance, the need for data privacy is becoming even more critical. IBM now offers the most holistic quantum-safe approach to securing data available today and to help enterprises protect existing data and help protect against future threats,” said Hillery Hunter, Vice President and Chief Technology Officer, IBM Cloud. “Security and compliance remain front and center for IBM Cloud as we continue to invest in confidential computing and our leading encryption capabilities to help enterprises of all kinds – especially those in highly regulated industries – keep data secured.”

Preparing for future threats with Quantum-Safe Cryptography Support
While quantum computing aims to solve complex problems even the world’s most powerful supercomputers cannot solve, future fault-tolerant quantum computers could pose potential risks, such as the ability to quickly break encryption algorithms and access sensitive data. To mitigate these risks IBM has developed a clear strategic agenda to help protect the long term security of our platforms and services. This agenda includes the research, development and standardization of core quantum-safe cryptography algorithms as open source tools such as CRYSTALS and OpenQuantumSafe. It also includes the governance, tools and technology to support our clients as they start on the same journey to a more secure future.

Today, as the next step in that agenda, IBM is bringing its industry-leading encryption capabilities built by IBM Research cryptographers to help clients with a quantum-safe cryptography approach for their data-in-transit within IBM Cloud. The capabilities are designed to help enterprises prepare for future threats and can be useful against attacks in which malicious actors harvest encrypted data today with the intent to decrypt it later as quantum computing advances.

IBM Key Protect, a cloud-based service that provides lifecycle management for encryption keys that are used in IBM Cloud services or client-built applications, has now introduced the ability to use a quantum-safe cryptography enabled Transport Layer Security (TLS) connection – helping to protect data during the key lifecycle management.   

In addition, IBM Cloud is also introducing quantum-safe cryptography support capabilities to enable application transactions. When cloud native containerized applications run on Red Hat® OpenShift® on IBM Cloud or IBM Cloud Kubernetes Services, secured TLS connections can help application transactions with quantum-safe cryptography support during data-in-transit and protect from potential breaches.

Protecting sensitive data with IBM Cloud Hyper Protect Crypto Services
Enterprises also need to mitigate risks from external and internal threats, as well as to address regulatory compliance.

Today, IBM Cloud is also delivering new capabilities to help secure application transactions and sensitive data using IBM Cloud Hyper Protect Crypto Services, which offer the industry’s highest level of cryptographic key encryption protection by providing customers with ‘Keep Your Own Key’ (KYOK) capability. Built on FIPS-140-2 Level 4-certified hardware – the highest level of security offered by any cloud provider in the industry for cryptographic modules² – this allows clients to have exclusive key control, and therefore authority over the data and workloads protected by the keys.

Designed for application transactions where there is a deeper need for more advanced cryptography, IBM Cloud clients can keep their private keys secured within the cloud hardware security module while offloading TLS to IBM Cloud Hyper Protect Crypto Services to help establish a secure connection to the web server. They can also achieve application-level encryption of sensitive data, such as a credit card number, before it gets stored in a database system.

Continuing to address the security demands of clients and highly regulated industries
IBM has been investing in confidential computing technologies for over a decade and today delivers production-ready confidential computing to help clients protect data, applications and processes.

Furthering its commitment to security and compliance, IBM continues to collaborate with its industry peers to make further progress in standardization initiatives. For example, security best practices on IBM Cloud are now available as a Center for Internet Security (CIS) Foundations benchmark for IBM Cloud, and IBM Research cryptographers are key contributors to the QSC algorithms that are short listed in the National Institute of Standards and Technology (NIST).

IBM, the IBM logo, and IBM Cloud are trademarks or registered trademarks of IBM Corp., in the U.S. and/or other countries.

Red Hat® and OpenShift® are trademarks or registered trademarks of Red Hat, Inc. or its subsidiaries in the United States and other countries.

About IBM Cloud
For further information visit: www.ibm.com/cloud/

CONTACT:
Kate Gazzillo
IBM Communications
[email protected] 

¹ Encryption keys and cryptographic operations are protected with highest level certified HSM –  with Hyper Protect Crypto services: FIPS 140-2 Level 4.

² Based on IBM Hyper Protect Crypto Service, the only service in the industry built on FIPS 140-2 Level 4-certified hardware. FIPS 140-2 Security Level 4 provides the highest level of security defined in this standard. At this security level, the physical security mechanisms provide a comprehensive envelope of protection around the cryptographic module with the intent of detecting and responding to all unauthorized attempts at physical access.

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SOURCE IBM