ZUG, Switzerland & GENEVA & BUENOS AIRES, Argentina–(BUSINESS WIRE)–
WISeKey International Holding (WIHN, a company listed on the Swiss stock exchange) through WISeKey ELA (its Spanish company headquartered in Bilbao), AC Investment & Consultant S.A. and Trend Technologies S.A. reached an agreement to form a Joint Venture for the creation of a new company WISeKey Argentina, with the objective of extending WISeKey’s global presence in Argentina.
WISeKey’s global expansion during recent years has focused on the development of joint ventures with strategic partners on a national level, which has permitted WISeKey to deploy their information technology security and the Internet of Things in emerging economies in India, Brazil, China and now Argentina. These joint venture companies are developed in these countries with strategic partners that pave their way into the market providing important clients and contracts that are facing a high growth demand for cybersecurity solutions such as, digital identity and privacy, secure mobile communication, secure cloud computing, the Internet of Things, secure semi-conductors, BlockChain and other innovative technologies offered by WISeKey.
The new joint venture will expand current operations in Argentina with the possibility of extending into other Latin American countries as well. The WISeKey alliance with its new partners creates a synergy between leading companies whose values and product portfolio provide state of the art technology and cybersecurity services. This initiative also contemplates that the company offer its services and solutions from a highly secure data center located in the region. The partnership includes a strategic investment in WISeKey Argentina, representing a 49% ownership to the new partners and a 51% share for WIHN.
WISeKey’s presence in Argentina is a result of the creation of a joint venture that entails the development of a Root of Trust and a Public Key Infrastructure (PKI) for WISeKey Argentina, including a globally trusted Certification Authority within a security strategy framework. The Public Key Infrastructure is the center of all of the initiatives that provides the necessary security (encrypted and digital signatures) for electronic transactions.
Carlos Moreira, Founder, President of the Board of Directors and CEO of WISeKey International Holding, said: “The economic perspectives for Argentina are very positive, and this joint venture will permit WISeKey to respond to the market dynamics quicker. Our company will be in the best condition to establish its technology in the region and accelerate its growth.”
Daniel Corrado, future President and CEO of WISeKey Argentina, said, “this joint venture will provide WISeKey a platform in Argentina to expand its market leading products into this high growth market with a consolidated focus, integrating technologies and local services to offer solutions to national clients. The association of WISeKey with its new partners exploits both companies capabilities allowing us to broaden the offer of cybersecurity services in the quickest and most efficient manner, substantially increasing revenues and profitability.”
About WISeKey
WISeKey (SIX Swiss Exchange: WIHN) is a leading cybersecurity company and has been selected as a World Economic Forum Global Growth Company. WISeKey is currently deploying large-scale Internet of Things (“IoT”) digital identity ecosystems and has become a pioneer of the “4th Industrial Revolution” movement launched this year at the World Economic Forum in Davos. WISeKey’s Swiss based cryptographic Root of Trust (“RoT”) integrates wearable technology with secure authentication and identification, in both physical and virtual environments, and empowers IoT and wearable devices to become secure transactional devices. The RoT serves as a common trust anchor, which is recognized by the operating system and applications, to ensure the authenticity, confidentiality and integrity of on-line transactions. With the cryptographic RoT embedded on the device, the IoT product manufacturers can use code-signing certificates and a cloud-based signature as a service to secure interactions among objects and between objects and people. WISeKey has patented this process in the USA as many IoT providers currently use it.
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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