WISeKey signs new agreements in China and the US to secure cars, video cameras and routers

WISeKey International Holding SA / WISeKey signs new agreements in China and the US to secure cars, video cameras and routers . Processed and transmitted by Nasdaq Corporate Solutions. The issuer is solely responsible for the content of this announcement.

WISeKey signs new agreements in China and the US to secure cars, video cameras and routers

Semiconductors IoT sales in China, EU and US are expected to generate approximately $32 Million in revenues for FY2017, with revenue acceleration expected in 2018

ZUG, Switzerland - November 15, 2017 -WISeKey International Holding Ltd ("WISeKey", SIX:WIHN), a leading cybersecurity and IoT company, today announced that it is accelerating its Semiconductors IoT sales through the signing of new agreements for smart cities and smart cars in China and a major contract to secure hardware such as cameras and routers in the United States.

Carlos Moreira, WISeKey's Founder and CEO, noted, "Our recent agreements and expansion in several large markets, including China, the European Union and the United States have positioned WISeKey as a major player in the Semiconductors IoT segment.  We expect these agreements to generate approximately $32 million in revenues in FY2017.  As we continue to leverage our core competencies and expand into a large and fast growing cyber security market, we expect revenue growth to accelerate from this segment in FY2018."

Mr. Moreira added, "Of note, we are seeing strong demand for products for both of our business segments, the Semiconductor IoT and Cybersecurity SaaS, which are now fully integrated into WISeKey's Vertical Platform."

The IoT industry has become a game changing new business opportunity for WISeKey.  An estimated 50 billion IoT devices are expected to be connected by 2020, while world's population is estimated to grow to 6.8 billion; thus, there will be more than 7 IoT devices per person connected to the internet by 2020. Global spending on IoT/IoE technology-based services is now expected to reach $3 trillion by 2025 and WISeKey is well positioned to take advantage of many significant opportunities in this large market.

Recent agreements include partnerships with global organizations to secure IoT devices and the huge and increasing amount of sensitive data exchanged between these devices.  The IoT chips produced by WISeKey allow companies to provide users with new type of applications, designed to offer increased control over the use of resources, improve efficiency, optimize processing of information, secure autonomous vehicles, improve public safety, etc.

In the US, WISeKey's chips are used to secure and authenticate over 10 million routers using unique Secure Certificate based IDs and encryption (SSH) keys.  This technology is also used in closed-circuit TV (CCTV) or DVR devices and satellite antenna equipment.

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