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The paper presents an architecture to implement Karatsuba Multiplier on an FPGA platform. Detailed analysis has been carried out on how existing algorithms utilize FPGA resources. Based on the observations the work develops a hybrid technique which has a better area delay product compared to the known algorithms. The results have been practically demonstrated through a large number of experiments. Subsequently, the work develops a masking strategy to prevent power based side channel attacks on the multiplier. It has been found that the proposed masked Hybrid Karatsuba multiplier is more compact compared to existing designs.