WISeKey Announces a Pivotal Shift in Strategic Direction by Adopting a Holding Company Structure
July 13 2023 - 1:00AM
WISeKey
Announces a
Pivotal
Shift in
Strategic
Direction by
Adopting a
Holding
Company
Structure
Four
operational subsidiaries
each focused on a specific aspect
of WISeKey’s expansive technology
portfolio.
Zug and Geneva, July 13, 2023 – WISeKey
International Holding Ltd (“WISeKey”, SIX: WIHN; Nasdaq: WKEY), a
global leader in cybersecurity, digital identity, and Internet of
Things (IoT) solutions, announced today a pivotal shift in
strategic direction by adopting a holding company structure of
several operational subsidiaries, each dedicated to a specific
aspect of WISeKey's expansive technology portfolio.The company's
diverse spectrum of technologies currently includes four
subsidiaries:
- SEALSQ
Corp (Nasdaq: LAES):
focuses on developing and selling semiconductors, PKI and
post-quantum technology hardware and software products.
- WISeKey
SA: focuses on RoT and PKI solutions to provide secure
authentication and identification, in both physical and virtual
environments, for the IoT, Blockchain, and AI.
-
WISeSat AG:
focuses on space technology aiming to securely connect assets via
satellite communication using picosatellites, a security-IoT
hardened nanosatellite designed to further drive down satellite
costs for IoT applications.
- WISe.ART
Corp: focuses on trusted blockchain NFT
and through its WISe.ART marketplace which provides a secure
platform where NFT buyers and sellers can easily connect their
crypto wallets to instantly purchase or list their NFTs for
sale.
Each operational subsidiary enriches WISeKey's
overarching mission of securing the internet, while focusing on
their unique areas of R&D and expertise. Furthermore, each
subsidiary’s technologies are seamlessly integrated into the
comprehensive WISeKey platform.
Carlos Moreira, the CEO of WISeKey noted,
“Embracing this new role as a holding company signifies WISeKey's
unwavering commitment to delivering the most comprehensive and
effective cybersecurity solutions to its customers. By diversifying
our operations, we ensure we are well-equipped to navigate the
evolving cybersecurity landscape while staying true to our core
mission of securing the Internet. The recent successful listing of
our subsidiary SEALSQ is a testament to the viability of this
strategy, and the growth that can be secured through it.”Under this
new strategy, WISeKey’s subsidiary, SEALSQ, recently listed its
ordinary shares on the Nasdaq Global Market - trading under the
symbol "LAES" as of May 24, 2023. Alongside the listing, WISeKey
allocated 20% of SEALSQ’s outstanding ordinary shares to holders of
WISeKey Class B Shares, WISeKey ADSs, and WISeKey Class A Shares.
Post-listing, WISeKey retained 80% ownership of SEALSQ.
SEALSQ recently announced the closing of an
initial $10.0 million tranche of total possible $20.0 million
private placement. As announced, SEALSQ plans to use the net
proceeds from this financing to fund:
- Enhancement of production facilities
in the U.S. and France by investing in advanced manufacturing and
testing equipment aiming to improve efficiency and reduce
semiconductors production localization risks.
- Additional investments towards the
development of a new generation of quantum-ready semiconductors
designed to meet the computing demands of the future and offer
superior processing power and energy efficiency.
Each subsidiary under WISeKey’s holding company
structure will maintain its revenue stream and profitability
targets, enabling a concentrated focus on core strengths and market
opportunities. Each subsidiary is in a varying stage of maturity,
with SEALSQ independently listing on the NASDAQ, while others
remain in the startup phase. Despite their diverse development
stages, all subsidiaries align with the broader mission of the
holding company, which retains majority ownership and provides
managed financial services, ensuring smooth operations and superior
cybersecurity solutions for customers.Looking forward, WISeKey
intends to gradually IPO each independent company upon reaching
maturity. This strategy allows subsidiaries the autonomy to operate
independently, while leveraging the resources and support of the
parent company. The resulting diversified business structure
bolsters WISeKey's potential for success in the dynamic
cybersecurity market.WISeKey's status as a pioneer in the
cybersecurity and digital identification sectors positions it to
reap significant benefits from its affiliates, grappling with the
challenges of the Fourth Industrial Revolution (4IR). Its
multi-sector involvement presents multiple avenues for sustained
growth and continued relevance:
-
Diversification: Engaging with a variety of
sectors - from digital identity to semiconductors, quantum
computing, blockchain technology, space satellites, and NFT
platforms - allows WISeKey to broaden its operational scope and
mitigate risk. This diversified approach is likely to secure
multiple revenue streams and lessen the company's overall risk
exposure.
-
Integration: The 4IR is marked by the merging of
different technologies. For instance, the integration of quantum
computing significantly boosts the security of blockchain systems,
and digital identities can be authenticated using NFTs. By
collaborating across these sectors, WISeKey can provide integrated
solutions that deliver added value to its clients.
-
Innovation: The challenges of the 4IR necessitate
innovative solutions. WISeKey's alliances with diverse companies
expose it to a vast range of novel ideas, techniques, and
technologies, keeping it at the vanguard of digital
transformation.
-
Human-Centric Approach: WISeKey's vision of
human-centric digital transformation aligns perfectly with the
objectives of the 4IR. Emerging technologies, like digital
identities and blockchain, can empower individuals, granting them
control over their personal data and digital assets.
-
Networking and Partnerships: Collaborations with
various companies could open doors to new opportunities for
networking and partnerships. These connections can lead to
cooperative projects, aiding WISeKey's expansion and the
enhancement of its offerings.
-
Expertise and Reputation: WISeKey's enduring
reputation and proficiency in digital transformation give it a
competitive edge. The company’s profound knowledge and experience
in cybersecurity and digital identity make it a preferred solution
provider in the 4IR, thereby bolstering its market standing.
-
Future-Proofing: By remaining engaged with the
cutting-edge technologies of the 4IR, WISeKey effectively
future-proofs its business. As digital transformation continues to
accelerate, the demand for services in these sectors will
inevitably grow, securing WISeKey's relevance and expansion in the
future.
About WISeKey
WISeKey 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 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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