WISeKey International Holding Ltd. (“WISeKey”) (SIX: WIHN, NASDAQ:
WKEY), leader in cybersecurity, digital identity, and Internet of
Things (IoT) solutions operating as a holding company, today
announced that its “WISeKey Arabia” joint venture with E.A. Juffali
& Brothers (“Juffali Group”) has become a key player in Saudia
Arabia's cybersecurity and digital transformation process by
providing state-of-the-art cybersecurity solutions, secure
communication, and IoT infrastructure.
In 2019, WISeKey established WISeKey Arabia, a joint venture
with Saudi Advanced Technologies company Ltd, a wholly owned
company of Juffali Group aiming to localize cybersecurity and IoT
offerings in the Middle East. Since its establishment, the WISeKey
Arabia joint venture, has been at the forefront of effort to
enhance Saudi Arabia's cybersecurity and digital infrastructure
capabilities. The joint venture not only supports the Kingdom's
digital transformation but also enhances its competitive edge by
attracting investments and fostering innovation within the digital
economy.WISeKey Arabia joint venture goal aligns with the Kingdom's
Vision 2030, emphasizing the importance of cybersecurity and
digital infrastructure in building a diversified and sustainable
economy.
https://www.nasdaq.com/press-release/wisekey-established-wisekey-arabia-a-jv-with-saudi-advanced-technologies-company-ltd.
The joint venture has been instrumental in propelling the
Kingdom towards achieving its ambitious goals outlined in Vision
2030, by leveraging WISeKey's global expertise in cybersecurity and
digital technologies alongside Juffali Group's deep market
knowledge and strong local presence.
Saudi Arabia's ambitious move towards becoming a global hub for
sustainable technology manufacturing, particularly through its
sovereign wealth fund's focus on semiconductor and space
industries, marks a significant shift in the kingdom's economic
diversification efforts. The establishment of Alat by the Public
Investment Fund (PIF) underlines a strategic pivot towards advanced
manufacturing sectors, aiming to reduce the economy's oil
dependency while fostering technological innovation and job
creation within the Kingdom.
This initiative reflects a broader trend of Gulf countries
leveraging their wealth funds to invest in future-oriented
industries, aiming to secure their positions in the global economic
landscape beyond the oil era. The focus on manufacturing products
across a wide range of advanced technology sectors, including
semiconductors, smart appliances, health devices, and
next-generation infrastructure, signifies a comprehensive approach
to building a resilient, diversified economy.
The creation of 39,000 direct jobs and a projected $9.3 billion
contribution to the non-oil GDP by 2030 highlights the scale of
Saudi Arabia's ambitions. The PIF's plan to make a sizable
investment in the semiconductor industry, as mentioned by Saudi
Minister of Communications and Information Technology Abdullah
Alswaha, further emphasizes the Kingdom's commitment to becoming a
leader in this critical sector.
Saudi Arabia's commitment to improving its digital
infrastructure and expanding high-speed broadband coverage, as part
of Vision 2030, is crucial for attracting investments and enhancing
the competitiveness of its economy. This strategic direction,
supported by significant investments in technology and innovation,
presents a transformative opportunity for the kingdom to position
itself as a leader in sustainable technology manufacturing and
digital services in the region and beyond.
WISeKey Arabia has quickly established itself as a key player in
the Kingdom, focusing on critical sectors for Saudi Arabia's future
growth. These include retail, financial transactions, automotive,
smart cities, consumer products, healthcare, smart cards,
industrial, transportation, and IT infrastructure.
As Saudi Arabia continues to prioritize the development of a
sophisticated digital infrastructure, WISeKey Arabia is poised to
play a pivotal role in this transformation, ensuring secure and
advanced digital services across multiple sectors. This initiative
is a testament to the effective collaboration between international
technology firms and local industry leaders, driving forward Saudi
Arabia's vision for a digital future.About A Juffali &
Brothers. E. A. Juffali & Brothers was
established in 1946. Over the last seven decades, Juffali Group has
been a key contributor for Saudi Arabia's modern economy,
setting up the electric power supply and telecommunications to some
of Saudi Arabia's major cities, during the initial
development of the Kingdom. Over the years Juffali
Group has developed partnerships with world-leading companies
across many sectors.
About WISeKeyWISeKey International Holding Ltd
(“WISeKey”, SIX: WIHN; Nasdaq: WKEY) is a global leader in
cybersecurity, digital identity, and IoT solutions platform. It
operates as a Swiss-based holding company through several
operational subsidiaries, each dedicated to specific aspects of its
technology portfolio. The subsidiaries include (i) SEALSQ Corp
(Nasdaq: LAES), which focuses on semiconductors, PKI, and
post-quantum technology products, (ii) WISeKey SA which specializes
in RoT and PKI solutions for secure authentication and
identification in IoT, Blockchain, and AI, (iii) WISeSat AG which
focuses on space technology for secure satellite communication,
specifically for IoT applications, and (iv) WISe.ART Corp which
focuses on trusted blockchain NFTs and operates the WISe.ART
marketplace for secure NFT transactions.Each subsidiary contributes
to WISeKey’s mission of securing the internet while focusing on
their respective areas of research and expertise. Their
technologies seamlessly integrate into the comprehensive WISeKey
platform. WISeKey secures digital identity ecosystems for
individuals and objects using Blockchain, AI, and IoT technologies.
With over 1.6 billion microchips deployed across various IoT
sectors, WISeKey plays a vital role in securing the Internet of
Everything. The company’s semiconductors generate valuable Big Data
that, when analyzed with AI, enable predictive equipment failure
prevention. Trusted by the OISTE/WISeKey cryptographic Root of
Trust, WISeKey provides secure authentication and identification
for IoT, Blockchain, and AI applications. The WISeKey Root of Trust
ensures the integrity of online transactions between objects and
people. For more information on WISeKey’s strategic direction and
its subsidiary companies, please visit
www.wisekey.com.Press and investor
contacts:WISeKey International Holding LtdCarlos
MoreiraChairman & CEOTel: +41 22 594 3000 /
info@wisekey.com
WISeKey Investor Relations (US)The Equity Group Inc.Lena
CatiTel: +1 212 836-9611 / lcati@equityny.comKatie MurphyTel: +1
212 836-9612 / kmurphy@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 the Swiss Financial Services Act (“FinSA”),
the FInSa’s predecessor legislation or advertising within the
meaning of the FinSA. 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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