WISeKey Announces Expansion of Its Satellite Business Into a New Entity - WISeSat AG - based in Zug, Switzerland
June 06 2023 - 9:19AM
WISeKey Announces
Expansion of Its
Satellite Business Into
a New Entity - WISeSat AG
- based in Zug,
Switzerland
WISeSat in cooperation with FOSSA Systems would
be launching several new WISeSat-Ready FOSSA powered satellites
with SpaceX A SpaceX Falcon 9 rocket will launch the Transporter-8
mission. The launch date is currently targeted for June 08,
2023.
View video of previous launch at:
https://www.youtube.com/watch?v=qO4L6W7_W3sGeneva and Zug
Switzerland – June 6, 2023 – WISeKey International Holding Ltd
(“WISeKey”, SIX: WIHN; Nasdaq: WKEY), a leading cybersecurity, IoT
and AI company, today is announcing the expansion of its satellite
business into a new special purpose company, WISeSat AG.
Headquartered in Zug, Switzerland, the new entity will focus on
adding satellites to the constellation of already launched
WISeSat-Ready satellites.The strategic move is designed to enhance
WISeKey’s current service offerings, and it will allow the new
entity to target a broader client base who are seeking to securely
connect their assets via satellite communication. WISeSat AG, with
its new strategy, not only cover large and unserved geographic
areas but will also provide both remote and redundant urban IoT
communications.WISeSat AG will collaborate with various partners
and investors to offer innovative Internet of Things (IoT)
satellite technology to its clients in a Software-as-a-Service
(SaaS) model. The streamlined SaaS model will enhance the
connectivity needs of clients who need reliable and secure
communication in remote areas. WISeKey has already a minority
investment in FOSSA Systems, a Spain-based leading aerospace
company focused on developing picosatellites for Low Earth Orbit
(LEO) services.This strategic investment has allowed WISeKey to
integrate FOSSA Systems into the WISeKey IoT platform connecting
all IoT sectors through the development of a WISeSaT PocketQube
Satellite. WISeSat in cooperation with FOSSA Systems would be
launching several new WISeSat-Ready FOSSA powered satellites with
SpaceX. These new satellites will be part of the 80-satellite
constellation aiming to provide global and real-time IoT
connectivity for industrial applications with a 10-hour data
latency. The launch will be carried out by SpaceX on a Falcon
9 Vehicle, starting June 2023.WISeKey is offering this technology
to its IoT clients in a SaaS model allowing both remote and
redundant urban IoT communications for companies seeking to
securely connect their assets via satellite communication covering
large and unserved geographic areas such as maritime, deserts,
mountains, etc., at affordable prices. WISeKey Trust and Security
solutions offer unique integration into an end-to-end platform that
communicates in real-time with WISeSat. Satellite by ensuring the
authenticity, confidentiality, and integrity of the devices,
objects, data and transactions.WISeKey’s INeS platform uses
state-of-the-art cryptographic algorithms to meet the highest
standards for issuing, managing, and validating digital credentials
for IoT devices, including those connected with WISeSaT.Satellite.
This platform is scalable and can support environments for hundreds
of millions of devices and sensors, and is able to remotely collect
data from the field and transmit to the backend.Additionally, INeS
features Entity Management (any custom attributes such as
identities, group, type, role, and life cycle), Message Security
Policy Management, and Business Rules Management. Interfacing via
the cloud and connecting devices and applications, INeS is capable
of remotely identifying credentials and controlling activation,
deactivation, revocation, renewal, and secure provisioning.Carlos
Moreira, CEO of WISeKey, commented, "The creation of WISeSat AG
allows us to further our mission in providing secure, scalable, and
reliable IoT communications for our clients. By working with
trusted partners and investors, we plan on expanding our satellite
constellation by offering enhanced connectivity for IoT devices
across the globe. This move will fortify our position as a pioneer
in the IoT and cybersecurity market."WISeKey has a proven track
record of success in the IoT sector, and the introduction of
WISeSat AG is expected to further establish the company as a global
leader in providing cutting-edge IoT solutions.
The low Earth orbit (LEO) satellite industry has seen
substantial mergers and acquisitions (M&A) activity in recent
years. This is largely due to the industry's immense potential,
driven by the increasing demand for high-speed internet
connectivity worldwide, especially in remote areas where
traditional connectivity solutions are insufficient. LEO
satellites, because of their closer proximity to Earth compared to
geostationary satellites, can provide faster data transmission
speeds and lower latency, which makes them attractive for a range
of applications, from broadband services to Earth observation.LEO
satellite offers….
- Vertical Integrations: Some companies have
chosen to vertically integrate to control both satellite
manufacturing and the provision of satellite services. SpaceX, for
example, produces its own satellites for the Starlink broadband
network, enabling them to control all aspects of the service.
Vertical integrations in the LEO satellite industry allows
businesses to control their value chain and potentially realize
cost efficiencies.
- Acquisition of Technology Providers: In order
to expand capabilities and reduce costs, some firms have acquired
technology providers. This may include satellite manufacturers,
providers of ground station services, or companies with specific
technological capabilities such as advanced propulsion systems.
Such acquisitions can help firms develop unique competencies and
establish market differentiation.
- Consolidation: The LEO satellite industry has
also seen a degree of consolidation, as companies merge to better
compete in a challenging market. For example, in February 2021, the
British government and Bharti Global acquired the bankrupt
satellite company OneWeb, planning to deploy hundreds of LEO
satellites for broadband connectivity.
- Acquisition by Non-Satellite Firms: Companies
outside the satellite industry, particularly from the
telecommunications and technology sectors, have shown interest in
LEO satellite companies. This is driven by the desire to expand
their services portfolio, reach new markets, or gain a competitive
edge. For instance, Amazon's Project Kuiper aims to deploy over
3,000 LEO satellites for global broadband services.
- Private Equity and Venture Capital
Investments: Private equity and venture capital firms have
shown increased interest in the LEO satellite industry, often
investing in start-ups with innovative technology or business
models. Such investments can provide the capital required for these
firms to scale up their operations.
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 installed base of over 1.6 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 leading edge of IoT as our semiconductors
produce a huge amount of Big Data that, when analyzed with
Artificial Intelligence (AI), can help industrial applications
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.comWISeKey Investor Relations (US)Contact: Lena
CatiThe Equity Group Inc.Tel: +1 212
836-9611lcati@equityny.comDisclaimer: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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