WISeKey Increases its Semiconductor Manufacturing Capabilities to
Support Exploding Demand
WISeKey's VaultIC Secure Elements and secure microcontrollers protect
large volumes of IoT devices and consumer products. The current global
pandemic situation has resulted in an exploding demand for these
products that WISeKey is responding to by significantly investing in its
supply chain transformation.
Geneva, Switzerland -- April 12, 2021: WISeKey International Holding
Ltd. ("WISeKey") (SIX: WIHN, NASDAQ: WKEY), a leading global
cybersecurity and IoT company today announced it is significantly
investing in its supply chain transformation to better and faster serve
its customers. The Company is simultaneously impacted by the current
semiconductor shortage situation and a tremendously growing order
backlog.
While most industries are dramatically impacted by the current
semiconductor shortage, market analysts predict the same situation will
continue into 2022. According to experts, this shortage is the
combination of several factors. The global consumer demand dropped
during the beginning of the COVID-19 pandemic and the semiconductor
industry had to significantly reduce its manufacturing capacity to
mitigate consequences on profitability; however, the worldwide lockdown
had an unforecastable positive effect on the high-tech products market:
tons of new laptops, monitors, smartphones, routers, modems and gaming
consoles have created a surge in chips across industries that low
inventory and limited production capacities haven't been able to resorb.
Billions of WISeKey's secure chips are embedded in high-tech products
and goods to protect data, communication and firmware against
cyberattacks. This includes routers, modems, energy smart meters, drones
and medical devices, to mention a few. As a fabless company, WISeKey
trust a network of subcontractors and partners to provide its most
prestigious customers with the best leadtimes and service. While the
Company's book-to-bill ratio is exploding, it has to challenge its
existing supply chain and find short and long term solutions to maintain
and even continue to raise the bar on service quality. These solutions
involve continuous negotiations with current suppliers and investments
to diversify sourcing, including relocating some of the processes to
minimize transportation and environmental effects.
"WISeKey has been selected by global companies as their digital trust
partner," said Carlos Moreira, Founder and CEO of WISeKey. "Our VaultIC
and other secure chips are massively used in many sensitive applications
that require not only a unique technology expertise but also a perfect
supply chain. We are again demonstrating reactivity and agility to
provide our customers with the best business continuity in spite of the
current chaotic semiconductor crisis."
To learn more about WISeKey's cybersecurity propositions, visit
https://www.globenewswire.com/Tracker?data=y8eso2gYqGfkTaYmWw6nlT091MZkI92TQehnjU_CW7jvC40tsfK0VFCG5D1dYq1CjeNAup_yI7PoVstGuOLQJg==
WISeKey.com.
About WISeKey
WISeKey (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 install base of over 1.5 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 edge of IoT as our semiconductors
produce a huge amount of Big Data that, when analyzed with Artificial
Intelligence (AI), can help industrial applications to 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 Ltd WISeKey Investor Relations (US)
Company Contact: Carlos Moreira Contact: Lena Cati
Chairman & CEO The Equity Group Inc.
Tel: +41 22 594 3000 Tel: +1 212 836-9611
info@wisekey.com lcati@equityny.com
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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.
(END) Dow Jones Newswires
April 12, 2021 01:00 ET (05:00 GMT)