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HKEx Invests in Chinese Data-Security Firm Led by Turing Winner

By Hu Yue and Zhao Runhua / Sep 06, 2019 12:05 PM / Business & Tech

Turing Award winner Yao Qizhi. Photo: IC Photo

Turing Award winner Yao Qizhi. Photo: IC Photo

The operator of the Hong Kong stock market said this week it would acquire a minority stake in a Beijing-based data- and internet-security firm, as part of its strategy to upgrade its tech capabilities.

The Hong Kong Exchanges and Clearing’s (HKEx) investment in Huakong TsingJiao Information Science follows its recent investments in two fintech firms, and “is part of HKEx’s strategic focus on developing its data and technology offering.”

Details of the deal were not made available. HKEx said it has signed a letter of intent, and expects to complete the deal by the end of this year if the signing of binding agreements goes well.

Established in 2018, TsingJiao Information Science is led by China’s Turing Award winner Yao Qizhi, also known as Andrew Chi-Chih Yao. The company is now developing multi-party computation security solutions — a cryptography subfield that aims to allow parties to collaboratively analyze data while still keeping it private during the analysis process.

Contact reporter Zhao Runhua (runhuazhao@caixin.com)

Related: HKEX to Acquire Control of Shenzhen-Based Tech Firm

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