WISeKey’s
Semiconductor Revenue in the United
States
Surges
Despite Shortage
in Semiconductor
Manufacturing
U.S.
IoT segment
generated
revenue of
approximately
$4.5 million
in H1
2021, a
5% increase as compared
to H1 2020; WISeKey expects this
market to generate revenue of approximately
$9.5
million for
FY2021 due to
increased
semiconductors demand and
sales for
drones,
routers,
batteries,
medical and
NFT security
WISeKey’s strong cash reserves
of $35.9 million, as of July 9,
2021, support investment in the
U.S.
market, which currently is the fastest growing
market within its
IoT/Cybersecurity segment
ZUG,
Switzerland - July 20,
2021: Ad-Hoc announcement pursuant to Art. 53
of SIX Listing Rules – WISeKey International Holding Ltd
(NASDAQ: WKEY / SIX: WIHN) (“WISeKey” or the “Company”), a leading
cyber security, IoT, and AI platform company, today announced that
it has secured several major wins in the U.S. market for its
microchip semiconductor based IoT technology, anti-counterfeiting,
brand protection, EMV payment card and secure access products
with leading U.S. providers of networking equipment, medical
devices, smart building solutions, and financial services.
Thus, for the first half of 2021, the U.S. IoT
segment generated revenue of approximately $4.5 million (unaudited)
and it is expected to generate approximately $9.5 million for FY
2021.
“This U.S. IoT revenue generated by the WISeKey
Semiconductors division located in South of France, should be
considered strategic premium revenue, especially following the
semiconductor manufacturing shortage in the U.S., a strategic
reference market for the company. Because semiconductors are a
crucial component of the 4th Industrial Revolution, strategic
technologies (from smart cities, renewable energy and artificial
intelligence to robots and cybersecurity), their design and
manufacturing has become a geopolitical thorn. In the 20th century,
oil was the supreme global resource. But shortages accelerated by
the pandemic have prompted a 21st century catchphrase among
policymakers and diplomats… “semiconductors are the new oil,” said
Carlos Moreira, CEO of WISeKey.
WISeKey’s success in the U.S. is built on a
clear vision and business strategy that allows us to generate
revenue from IoT devices, cybersecurity services, and data and more
importantly our Trusted Ecosystem and Vertical Platform.
As we move forward, the IoT it will quickly
become the Internet of Everything (IoE), with more devices and
objects connected and able to collect and transmit data over the
internet, the WISeKey Vertical Platform potential for monetizing
services, blockchain, AI and the data produced by these connected
devices continues to grow. The total number of global IoT
connections is expected to grow from $6 billion in 2015 to $27
billion in 2025 all of them requiring the type of chips and
software offered by WISeKey. Global spending on IoT/IoE
technology-based services, is now expected to reach $3 trillion by
2025.
The IoT will live up to its promise only if the
connected devices, the data they generate, the business
applications that control these devices and the services around
them, can be fully trusted. In today’s environment, where
cyberattacks have become more common and increasingly
sophisticated, there is an urgent need to fundamentally rethink the
Security Stack for the IOT cloud. IoT-enabled services and products
will generate vast amounts of data which, when well-analyzed, are
very valuable to government organizations, product manufactures,
corporations, and end-users. This revenue model relies on data
trust and on IoT edge device control. Users can take advantage of
this unique solution in the market by remotely being able to:
uniquely identify and control an IoT Edge Device
(activation/deactivation/revocation), securely provision (point to
point secure update) the IOT Edge Device credentials and secure the
messages in motion between Edge Devices and Business
Applications.
The vertical integration of WISeKey’s unique
Root of Trust and Identity technology with VaultIC’s hardware &
software, and trust services for keys and certificates provisioning
and life cycle, created the first ever comprehensive trusted
end-to-end cybersecurity platform for people and objects (IoT) and
gave WISeKey the unique ability to deliver the most secure Platform
to its customers.
Further acceleration in revenue in USA is
expected as the market growth and WISeKey deploys its platform with
strategic partnerships with the
SAP® PartnerEdge Program. The
program gives partners access to resources, services and benefits
that will help WISeKey build and maintain a successful partnership
with SAP and optimize business results for clients. WISeKey has
been working on IoT security by integrating OISTE/WISeKey’s Managed
Cryptographic Root of Trust secure IoT Devices with
devices leveraging SAP Leonardo® IoT.
Today, WISeKey employs a team of 165 people in
Switzerland, France, Germany, Vietnam, USA, India, Japan and
Taiwan, and continues to enlarge its global footprint through
expansion in new areas.
“We are excited to have this backdrop of
positive traction in the U.S. security market, which when combined
with the solid foundation of our existing business that we have
been growing over the last two decades, positions us well to take
advantage of new expansion opportunities on a global scale,” said
Richard Venia, US Sales Director for WISeKey.
“The growth potential that we have, as we
continue to add talented professionals to our growing sales and
support team in the US, is impressive and it’s great to be in the
position where our secure products and services used in a wide
variety of connected devices from our customers are ideally suited
to meet the needs of business entities, financial institutions,
government agencies, and end-users that are creating explosive
revenue opportunities inside of the IoT market,” concluded Mr.
Venia.
About WISeKeyWISeKey (NASDAQ: WKEY; SIX Swiss
Exchange: WIHN) is a leading global cybersecurity company currently
deploying large scale digital identity ecosystems for people and
objects using Blockchain, AI and IoT respecting the Human as the
Fulcrum of the Internet. WISeKey microprocessors secure the
pervasive computing shaping today’s Internet of Everything. WISeKey
IoT has an install base of over 1.5 billion microchips in virtually
all IoT sectors (connected cars, smart cities, drones, agricultural
sensors, anti-counterfeiting, smart lighting, servers, computers,
mobile phones, crypto tokens etc.). WISeKey is uniquely
positioned to be at the edge of IoT as our semiconductors produce a
huge amount of Big Data that, when analyzed with Artificial
Intelligence (AI), can help industrial applications to predict the
failure of their equipment before it happens.
Our technology is Trusted by the OISTE/WISeKey’s Swiss based
cryptographic Root of Trust (“RoT”) provides secure authentication
and identification, in both physical and virtual environments, for
the Internet of Things, Blockchain and Artificial Intelligence. The
WISeKey RoT serves as a common trust anchor to ensure the integrity
of online transactions among objects and between objects and
people. For more information, visit www.wisekey.com.
Press and investor contacts:
WISeKey
International Holding LtdCompany Contact: Carlos
MoreiraChairman & CEOTel: +41 22 594
3000info@wisekey.com |
WISeKey
Investor Relations (US)Contact: Lena CatiThe Equity
Group Inc.Tel: +1 212 836-9611lcati@equityny.com |
Disclaimer:This communication expressly or
implicitly contains certain forward-looking statements concerning
WISeKey International Holding Ltd and its business. Such statements
involve certain known and unknown risks, uncertainties and other
factors, which could cause the actual results, financial condition,
performance or achievements of WISeKey International Holding Ltd to
be materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. WISeKey International Holding Ltd is providing this
communication as of this date and does not undertake to update any
forward-looking statements contained herein as a result of new
information, future events or otherwise.This press release does not
constitute an offer to sell, or a solicitation of an offer to buy,
any securities, and it does not constitute an offering prospectus
within the meaning of article 652a or article 1156 of the Swiss
Code of Obligations or a listing prospectus within the meaning of
the listing rules of the SIX Swiss Exchange. Investors must rely on
their own evaluation of WISeKey and its securities, including the
merits and risks involved. Nothing contained herein is, or shall be
relied on as, a promise or representation as to the future
performance of WISeKey.
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