Latest news with #PKI
IOL News
5 hours ago
- Business
- IOL News
PK Investments defends its voluntary offer for MAS amid governance concerns
MAS owned Moldova Mall in Romania underwent a redevelopment and reopened in April 2025. MAS' shareholder PKI Investment has made an offer to acquire at least 10% of the shares in MAS it does not already own. Mas shareholder PK Investments has defended its voluntary bid to buy MAS shares. Image: Supplied The corporate travails at JSE-listed East European property group MAS took another twist on Monday when shareholder PK Investments (PKI) insisted its 'voluntary offer' is fair, and the concerns raised by the MAS independent board were not material. PKI's offer follows its earlier attempt to get MAS to sell all its assets, but this was thwarted at a shareholders' meeting. It also follows concerns expressed by nine minority South African institutional shareholders about aspects of governance in the MAS board. These shareholders, which together own 15% of MAS, include Meago, Sesfikile Capital, Ninety One, Catalyst, Eskom Pension Fund, and Stanlib. South African REIT Hyprop also earlier withdrew a bid for MAS, because MAS's board and PKI allegedly failed to provide information. PKI has offered cash of €1.40 per MAS share (R29.22) or a preference share option or a combination of both. MAS's shares were trading 0.96% lower at R23.77 on Monday. On the MAS board's view that there was a 'perceived lack of regulator 'proactive' intervention' in the PKI bid, PKI's directors said their offer 'is fully compliant from a legal perspective.' And while the bid documents were submitted to the JSE for approval, it was the 'JSE's own view that it did not have jurisdiction to review or comment on the documentation,' PKI said. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ 'This was not a view unilaterally adopted by PKI. We believe the PKI Voluntary Bid is generous by any reasonable measure, as evidenced by the premiums to MAS pricing levels recognised in the MAS announcement…' The MAS board had also said that neither it nor shareholders were 'engaged meaningfully by PKI prior to the launching of the bid, and that shareholders were not given enough time to make a complex decision.' PKI said, however the "bid is a voluntary offer…and does not constitute a scheme of arrangement or similar transaction. Accordingly, there was no express need to engage the MAS independent board prior to the launch thereof, as is the case with any such offer to MAS shareholders.' Additionally, said PKI, the material terms of the bid were publicly available since May 16, 2025. PKI and PSG Capital had also engaged 'extensively with numerous MAS shareholders' regarding the bid, PKI said. 'As regards MAS' statement that the timeline does not comply with the JSE corporate actions timetable or Maltese Capital Markets Rules, it should be noted that these rules are not applicable to the PKI voluntary bid,' PKI directors said. The MAS board had also questioned the absence of any requirement for the exempt parties to make a mandatory offer if, pursuant to the PKI bid, certain control thresholds were exceeded. 'MAS shareholders would already have had the opportunity to tender their shares into a full voluntary offer on attractive terms. This is precisely the outcome the mandatory bid regime in the MAS Articles is designed to achieve.' The MAS board also highlighted the absence of a third-party guarantee for the cash consideration. PKI said the settlement process, handled by MAS' own transfer secretaries, ensured that cash and shares were exchanged simultaneously. 'We further confirm that PKI has already deposited the maximum cash amount with its bankers in South Africa.' On the MAS board concern about the rand/euro exchange rate risk for South African shareholders, PKI said foreign exchange exposure was inherent in any cross-border investment and 'MAS' own share price already embeds EUR exposure through its portfolio.' On concerns that the free float reduction could mar the liquidity of MAS shares, PKI said many companies with lower free floats maintain healthy liquidity, while a stable, aligned controlling shareholder could bring strategic benefits and a more predictable capital allocation. BUSINESS REPORT
Globe and Mail
04-08-2025
- Business
- Globe and Mail
SEALSQ Receives Final Approval from the French Ministry of the Economy, Finance and Industrial and Digital Sovereignty and Completes Acquisition of IC'ALPS
Geneva, Switzerland, Aug. 04, 2025 (GLOBE NEWSWIRE) -- SEALSQ Corp (NASDAQ: LAES) ("SEALSQ" or "Company"), a company that focuses on developing and selling Semiconductors, PKI, and Post-Quantum technology hardware and software products, and its parent company, WISeKey International Holding Ltd (NASDAQ: WKEY / SIX: WIHN), a global leader in cybersecurity, digital identity, and IoT technologies, today announced that it received final approval from the French Ministry of the Economy, Finance and Industrial and Digital Sovereignty under applicable foreign investment regulations and subsequently completed the acquisition of 100% of the share capital and voting rights of IC'ALPS SAS from its current shareholders (the 'Sellers'), effective August 4, 2025. As a result of the acquisition, approximately 90 employees from IC'ALPS have joined SEALSQ, bringing the Company's total staff in France to over 150 people, significantly strengthening SEALSQ's presence and capabilities in Europe's semiconductor sector. The acquisition was for a total fixed purchase price of EUR 12.5 million, payable in a combination of cash and SEALSQ shares, with a further earn-out payment of up to EUR 4 million payable in SEALSQ shares, subject to IC'ALPS achieving certain revenue targets for the twelve months ending December 31, 2025. The SEALSQ Ordinary Shares issued as part of the consideration will be subject to a 180-day lock-up period, during which the relevant Seller receiving these shares will be restricted from selling, transferring, or otherwise disposing of them. During the year ended December 31, 2024, based on the audited financial statements of IC'ALPS provided to SEALSQ and prepared according to French GAAP, the revenue of IC'ALPS was EUR 9,756,000 and the net loss was EUR 2,016,000. During the year ended December 31, 2023, based on the audited financial statements of IC'ALPS provided to SEALSQ and prepared according to French GAAP, the revenue of IC'ALPS was EUR 8,465,000 and the net income was EUR 318,000. 1 SEALSQ will prepare audited financial statements for IC'ALPS under US GAAP for the fiscal years 2023 and 2024. These adjustments may result in material differences from the preliminary figures provided above. Business Continuity and Expertise of IC'ALPS IC'ALPS will continue its core business of providing bespoke Application-Specific Integrated Circuits (ASIC) design services, ensuring uninterrupted support for clients seeking high-performance, differentiated solutions to drive innovation in their products and systems. With its established certifications in medical, aerospace, and extensive expertise in automotive applications, IC'ALPS remains uniquely positioned to deliver tailored, high-quality designs. The company's trusted partnerships with leading silicon foundries, including TSMC, GlobalFoundries, Intel Foundry, X-FAB, and ams OSRAM, reinforce its reputation as a reliable design partner, enabling clients across diverse industries to achieve cutting-edge performance and innovation while benefiting from IC'ALPS' proven track record and rigorous industry standards. Strategic Vision & Product Innovation Leveraging SEALSQ's expertise in quantum-resistant chip technology and IC'ALPS' proven track record in custom intellectual property block (IP) and ASIC design & supply chain management, this acquisition creates a powerful synergy to revolutionize the development of secure, tailor-made ASICs. The partnership combines SEALSQ's advanced security intellectual property (IP), including NIST-approved post-quantum cryptographic algorithms (CRYSTALS-Kyber and CRYSTALS-Dilithium), with IC'ALPS' cutting-edge analog and digital design capabilities. This collaboration enables SEALSQ to offer an end-to-end EU sovereign Secure ASIC solution, including custom derivatives of the QS7001 open hardware platform, designed to meet stringent security standards such as FIPS 140-3 and CC EAL5+ for mission-critical applications. A key milestone of this collaboration is the development of SEALSQ's QVault TPM, the first chip to emerge from the integration of SEALSQ and IC'ALPS expertise, with initial samples expected in Q1 2026. Built on the QS7001 architecture, the QVault TPM exemplifies the synergy between advanced security IP and cutting-edge ASIC design, delivering unparalleled protection for digital identities and connected devices across diverse industries. Synergistic Benefits On one hand, the acquisition will bolster SEALSQ's Secure Chip custom design strategy: The offering focuses on developing Secure ASICs, for instance customized derivatives of the QS7001 open hardware platform, designed to integrate NIST-approved post-quantum cryptographic algorithms (CRYSTALS-Kyber and CRYSTALS-Dilithium) for robust, quantum-resistant security, but also traditional counter measures and cryptography to prevent more classic attacks. The chips would therefore offer FIP 140-3 and CC EAL5+ certification capabilities, which are commonly required for sensitive applications like Healthcare, Defense and Automotive. (Visit to explore SEALSQ's tailor-made Secure ASIC solutions) On the other hand, IC'ALPS plans to leverage SEALSQ's security IPs to embed quantum-resistant cryptography into its ASIC designs, enhancing the security pillar of its offerings for high-stakes industries, especially Healthcare, Automotive and IoT. This integration addresses the growing demand for secure, high-performance ASICs in a $36.8 billion market (projected by 2032, Fortune Business Insights), where quantum threats and traditional vulnerabilities are increasing concerns. Key Use Cases: Automotive: The partnership delivers ASICs with quantum-safe cryptography and functional safety for connected cars, electric vehicles, and autonomous driving systems, meeting high Automotive Safety Integrity Levels (ASILs). These ASICs provide superior performance, lower power consumption, and cost efficiency compared to standard chips, ensuring secure and reliable vehicle systems. Healthcare: Secure ASICs protect sensitive medical and healthcare systems, safeguarding patient data and ensuring compliance with stringent regulatory requirements. IoT: The collaboration enables secure, low-power ASICs for IoT devices, ensuring data integrity and protection against quantum and classical threats in connected ecosystems. Defense and AI: Tailored microcontrollers support defense applications and AI-driven systems, providing robust security for mission-critical operations. Benefits of ASICs with Integrated Security: ASICs offer unmatched performance, energy efficiency, and cost optimization for specialized applications. By embedding SEALSQ's quantum-resistant security IPs, these ASICs address the vulnerabilities of traditional cryptographic methods (e.g., RSA and ECC) to quantum computing attacks, ensuring long-term protection for critical systems. This is particularly vital as quantum computing advances and industries demand future-proof solutions to safeguard sensitive data and infrastructure. Strategic Quantum Corridor: SEALSQ's operational headquarters in Aix-en-Provence, France, is poised to become a 'Quantum Corridor,' a hub for developing post-quantum semiconductors and identity-focused microchips. This acquisition strengthens SEALSQ's ability to deliver EU-sovereign solutions, meeting the growing global demand for secure, quantum-resistant technologies. More information: | I I About IC'Alps IC'ALPS is your one-stop-shop ASIC partner. Based in France (HQ in Grenoble, two design centers in Grenoble and Toulouse), the company provides customers with a complete offering for Application Specific Integrated Circuits (ASIC) and Systems on Chip (SoC) development from circuit specification, mastering design in-house, up to the qualification, and the management of the entire production supply chain. Its 90+ engineers' areas of expertise include analogic, digital and mixed-signal circuits (sensor/MEMS interfaces, ultra-low power consumption, power management, high-resolution converters, high voltage, signal processing, ARM and RISC-V based multiprocessors architectures, hardware accelerators) on technologies from 0.18 µm down to 1.8 nm, and from multiple foundries (TSMC, Global Foundries, Tower Semiconductor, X-FAB, STMicroelectronics, Intel Foundry, ams-OSRAM, etc.). The company is active worldwide in medical, industrial, automotive, IoT, AI, mil-aero and digital identity & security sectors. IC'ALPS is ISO 9001:2015, ISO 13485:2016, EN 9100:2018, Common Criteria at site-level, and ready for IATF 16949. 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, (iv) Corp which focuses on trusted blockchain NFTs and operates the marketplace for secure NFT transactions, and (v) SEALCOIN AG which focuses on decentralized physical internet with DePIN technology and house the development of the SEALCOIN platform. 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 About SEALSQ: SEALSQ is a leading innovator in Post-Quantum Technology hardware and software solutions. Our technology seamlessly integrates Semiconductors, PKI (Public Key Infrastructure), and Provisioning Services, with a strategic emphasis on developing state-of-the-art Quantum Resistant Cryptography and Semiconductors designed to address the urgent security challenges posed by quantum computing. As quantum computers advance, traditional cryptographic methods like RSA and Elliptic Curve Cryptography (ECC) are increasingly vulnerable. SEALSQ is pioneering the development of Post-Quantum Semiconductors that provide robust, future-proof protection for sensitive data across a wide range of applications, including Multi-Factor Authentication tokens, Smart Energy, Medical and Healthcare Systems, Defense, IT Network Infrastructure, Automotive, and Industrial Automation and Control Systems. By embedding Post-Quantum Cryptography into our semiconductor solutions, SEALSQ ensures that organizations stay protected against quantum threats. Our products are engineered to safeguard critical systems, enhancing resilience and security across diverse industries. For more information on our Post-Quantum Semiconductors and security solutions, please visit Forward-Looking Statements This communication expressly or implicitly contains certain forward-looking statements concerning SEALSQ Corp and its businesses. Forward-looking statements include statements regarding our business strategy, financial performance, results of operations, market data, events or developments that we expect or anticipate will occur in the future, as well as any other statements which are not historical facts. Although we believe that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates which are inherently subject to significant uncertainties and contingencies, many of which are beyond our control. Actual results may differ materially from those expressed or implied by such forward-looking statements. Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include SEALSQ's ability to continue beneficial transactions with material parties, including a limited number of significant customers; market demand and semiconductor industry conditions; and the risks discussed in SEALSQ's filings with the SEC. Risks and uncertainties are further described in reports filed by SEALSQ with the SEC. SEALSQ Corp 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. 1 We note that the net loss of IC'ALPS under French GAAP for the twelve months ended December 31, 2024 included sales to SEALSQ in an amount of approximately EUR 615,000. Excluding the sales to SEALSQ, the net loss of IC'ALPS under French GAAP for the twelve months ended December 31, 2024 would amount to a net loss in the amount of EUR (2,631,000), based on the draft unaudited revenue of IC'ALPS provided to SEALSQ. We note that the net income of IC'ALPS under French GAAP for the twelve months ended December 31, 2023 included sales to SEALSQ in an amount of approximately EUR 1,168,000. Excluding the sales to SEALSQ, the net income of IC'ALPS under French GAAP for the twelve months ended December 31, 2024 would amount to a net loss in the amount of EUR (850,000) based on the audited revenue of IC'ALPS provided to SEALSQ.
IOL News
04-08-2025
- Business
- IOL News
Prime Kapital launches voluntary offer for MAS shares amid shareholder unrest
MAS owned Moldova Mall in Romania underwent a redevelopment and reopened in April 2025. MAS' shareholder PKI Investment has made an offer to acquire at least 10% of the shares in MAS it does not already own. Image: Supplied Ongoing shareholder troubles at JSE-listed Eastern and Central Europe property group MAS continued on Monday after its major shareholder, Prime Kapital Investments (PKI), launched a voluntary offer to acquire MAS shares not already held by it. The offer comes barely a month after MAS shareholders overturned resolutions by PKI at an extraordinary shareholder meeting regarding the sell-off of MAS's assets and the payment of a special dividend with the proceeds. Just a week ago, a previous bidder for MAS, South African REIT Hyprop, withdrew its offer because MAS and PKI, as the main shareholder, refused to provide documents about a development joint venture (DJV) between PKI and MAS. PKI stated on Monday that their current offer is not contingent on PKI gaining control of MAS. The only condition is that at least 10% of MAS shareholders accept the cash offer of €1.40 per share or R29.22 per share, allowing PKI to secure a more meaningful strategic stake in MAS. MAS's share price traded 2.68% higher at R23.46 on the JSE on Monday afternoon. PKI's directors said their offer would enable PKI to unlock value for MAS shareholders and better position them to safeguard their interests against 'opportunistic takeover bids that undervalue MAS's intrinsic value.' Johan Holtzhausen, chairman of PSG Capital, Prime Kapital's lead adviser, said: 'PK partners have a large portion of their wealth invested in PKI and MAS. By increasing their stake, they'll be better strategically positioned to protect shareholders against opportunistic bidders and to maximise value for all shareholders.' Video Player is loading. 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Next Stay Close ✕ 'Shareholders have real flexibility—they can get cash for their shares at a significant premium to the current share price, choose preference shares, if able to hold them, that offer potential upside with an attractive floor, or simply hold on and remain MAS shareholders,' said Holtzhausen. MAS shareholders would have until midday on August 14 to make a decision on the PKI offer. Prime Kapital CEO Martin Slabbert said they were 'pleased to be able to finalise our offer now that we've secured €230 million in funding. This puts us in a strong position to provide shareholders with an attractive cash price and high cash cover.' The offer comprises a cash consideration of €1.40 (R29.22) per MAS share, representing a 28% premium to the current share price, a 37% premium to the 60-day average price, and a 50% premium to the May 15 share price, which was the day before the release of the original bid announcement. PKI directors stated that there would be up to €110m (R2.3 billion) available for cash settlements, and should cash acceptances exceed this amount, they would be scaled back on an equitable basis; however, PKI retains the right to increase the cash cap. MAS shareholders could also opt for 5-year preference shares in MAS, although PKI intends to redeem these within 18 months of issue, or shareholders could choose any ratio of cash and preference shares, PKI said in a statement. MAS shareholders could also opt to remain shareholders, and PKI stated that it did not intend to delist MAS. 'PKI has been engaging with shareholders of MAS to seek alignment on the future board composition and strategic direction. This includes the potential for the DJV to declare a special dividend of up to €120m to its shareholders, positioning MAS to resume dividend distributions as early as September 2025,' Slabbert said. PKI also undertook, as part of its offer, to support the appointment of 'genuinely independent' non-executive directors to the MAS board. Nine South African institutional minority shareholders in MAS recently questioned the standards of governance of the board. PKI stated it would prioritise the distribution of available profits by the DJV ahead of new investments and follow MAS's interpretation of the DJV distributions. PKI also said it would refrain from acquiring additional MAS shares in the market if, following the voluntary offer, it and its affiliates held more than 50% of MAS's shares. These commitments were intended to 'assure MAS shareholders that PKI is aligned with them in wanting to protect and unlock value for all MAS shareholders, they said. BUSINESS REPORT
Business Recorder
29-07-2025
- Business
- Business Recorder
H1CY25 agro exports decline by $1bn YoY, says PKI president
LAHORE: Pakistan has incurred a staggering loss of USD 1 billion in agro-exports during the first half of 2025 (January–June), as compared to the same period in 2024, a situation that demands urgent intervention through the establishment of a 'Commodity Price and Export Commission'. This proposed body would monitor domestic production, match it with consumption needs, and recommend export strategies for surplus commodities. Pakistan Kissan Ittehad (PKI) President Khalid Mahmood Khokhar, while addressing a press conference at the Lahore Press Club, said the country witnessed a 70 percent decline in maize exports, 69 percent in bananas, 40 percent in mangoes, and 31 percent in onions and garlic during the first half of the year. He claimed that farmers collectively suffered losses worth PKR 1,264 billion, with maize and rice alone accounting for nearly PKR 1,000 billion. Khokhar pointed to a drastic fall in commodity prices that has slashed farmers' incomes and weakened their purchasing power. Wheat prices have dropped from Rs 3,900 to Rs 2,200 per maund, maize from Rs 2,900 to Rs 1,900, and cotton from Rs 7,700 to Rs 6,700. At the same time, the prices of essential agricultural inputs, particularly fertilizers, have surged since 2022, leaving many small and medium-sized farmers unable to apply recommended doses. Fertilizer off take has declined by 29 percent for nitrogen-based fertilizers and by 15 percent for phosphates. He added that vegetable growers also suffered heavy losses, with onion prices plunging by more than 55 percent. Khokhar lamented that Pakistan's cotton production has continued to collapse. According to the Economic Survey 2024–25, cotton output dropped by 30.7 percent - the worst performance in nearly a decade. To meet the demands of the textile industry, the country imported 854,263 metric tons of ginned cotton in the first half of 2025, incurring an import bill of USD 1.66 billion. He compared the current situation to the early 2010s when cotton production peaked at 14.8 million bales and exports reached 1.1 million bales, while imports remained between 200,000 and 500,000 bales. In contrast, cotton production has now fallen below 7.5 million bales and may drop below 4 million bales this year due to rain-induced damage in Sindh and Punjab. He said only 1.3 million bales have arrived at ginning factories so far, and the fiber quality has also suffered due to heavy rains. Expressing deep frustration, Khokhar said farmers were working harder but earning less. He said that fertilizers were unaffordable, diesel was eating into profits, and the government was offering no relief. He blamed the crisis in part on the delay in announcing the wheat support price, which negatively affected not only wheat but also cotton cultivation. He alleged that the ongoing crisis was a result of neglected agricultural research, poor marketing mechanisms, and erratic pricing and subsidy policies. He criticized the minimal public investment in agriculture despite its key role in employment generation and contribution to GDP. According to him, there has been a persistent lack of focus on innovation, extension services, and climate resilience. Copyright Business Recorder, 2025
Globe and Mail
28-07-2025
- Business
- Globe and Mail
SEALSQ's Strategic Investment in WISeSat Propels Satellite Constellation Growth and Accelerates Commercialization of Post-Quantum Space Technology
Geneva, Switzerland, July 28, 2025 (GLOBE NEWSWIRE) -- SEALSQ Corp (NASDAQ: LAES) ("SEALSQ" or "Company"), a company that focuses on developing and selling Semiconductors, PKI, and Post-Quantum technology hardware and software products, today announced a strategic investment in the Swiss satellite technology venture of its parent company, WISeKey International Holding Ltd ('WISeKey') (SIX: WIHN, NASDAQ: WKEY), a leading global cybersecurity, blockchain, and IoT company. This investment aims to fuel the expansion of WISeSat's Low Earth Orbit (LEO) satellite constellation and fast-track the commercialization of its groundbreaking post-quantum-ready space technology. The announcement follows the signing of a strategic partnership between and EnduroSat, the leading Bulgarian space technology firm, further expanding WISeSat's global collaboration network. This partnership complements prior alliances with FOSSA Systems (Spain), PLD Space (Spain), Astrocast (Switzerland), Skyroot Aerospace (India), and SpaceX (USA), demonstrating commitment to international cooperation in building a secure space communications infrastructure. post-quantum-enabled satellite constellation is now testing advanced applications, including device-to-device post-quantum communication. The next major milestone will allow mobile phones to directly connect to the satellite constellation — anytime, anywhere — a capability that can already be previewed in real time via the interactive world map: Currently comprising of 21 LEO satellites, the constellation orbits Earth at altitudes between 500–600 km, completing a full orbit in approximately 90 minutes at speeds of 7.8 km/s (≈17,500 mph). The constellation provides more than 10 daily data transmission windows, ensuring near-global coverage and making it a foundational layer for secure and resilient global communications. This infrastructure supports bold vision, laying the groundwork for space-to-space and space-to-ground quantum resistant communication systems The growing convergence of quantum technology and space infrastructure is drawing attention from many investors. SEALSQ's investment in follows a wave of quantum-focused transactions in the sector, including IONQ's acquisition of Capella Space, as companies race to secure the future of space communications. 'Securing satellite communications is a complex challenge, especially for long-duration devices with limited physical access,' said Carlos Moreira, CEO of SEALSQ. 'Traditional cryptographic methods are no longer sustainable in the age of quantum computing. Our strategy of integrating post-quantum algorithms and implementing secure mechanisms in hardware, is designed to anticipate and address these emerging threats. SEALSQ's support accelerates our ability to deliver this future-ready solution.' By integrating Post-Quantum Cryptography (PQC) into both the software and hardware layers of its satellites, ensures long-term, tamper-resistant security across its entire infrastructure. SEALSQ-developed secure elements are embedded directly into the onboard satellite systems, allowing: Cryptographic separation: PQC processes are isolated from core control systems, minimizing the attack surface. Hardware-based key storage: Quantum-resistant keys are generated, stored, and managed in tamper-proof secure hardware. Resilient Over-the-Air (OTA) updates: Firmware, certificates, and keys can be updated securely during the satellite's lifecycle. Post-Quantum Secure Boot and Communication: Every signal, from launch to ground station to end-user device, is cryptographically signed using NIST-recommended post-quantum algorithms like CRYSTALS-Kyber. This integrated security architecture enables trusted communication between satellites, mobile devices, and terrestrial infrastructures, providing a robust foundation for governments, enterprises, and defense systems seeking long-term protection against quantum-era threats. About SEALSQ: SEALSQ is a leading innovator in Post-Quantum Technology hardware and software solutions. Our technology seamlessly integrates Semiconductors, PKI (Public Key Infrastructure), and Provisioning Services, with a strategic emphasis on developing state-of-the-art Quantum Resistant Cryptography and Semiconductors designed to address the urgent security challenges posed by quantum computing. As quantum computers advance, traditional cryptographic methods like RSA and Elliptic Curve Cryptography (ECC) are increasingly vulnerable. SEALSQ is pioneering the development of Post-Quantum Semiconductors that provide robust, future-proof protection for sensitive data across a wide range of applications, including Multi-Factor Authentication tokens, Smart Energy, Medical and Healthcare Systems, Defense, IT Network Infrastructure, Automotive, and Industrial Automation and Control Systems. By embedding Post-Quantum Cryptography into our semiconductor solutions, SEALSQ ensures that organizations stay protected against quantum threats. Our products are engineered to safeguard critical systems, enhancing resilience and security across diverse industries. For more information on our Post-Quantum Semiconductors and security solutions, please visit Forward-Looking Statements This communication expressly or implicitly contains certain forward-looking statements concerning SEALSQ Corp and its businesses. Forward-looking statements include statements regarding our business strategy, financial performance, results of operations, market data, events or developments that we expect or anticipate will occur in the future, as well as any other statements which are not historical facts. Although we believe that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates which are inherently subject to significant uncertainties and contingencies, many of which are beyond our control. Actual results may differ materially from those expressed or implied by such forward-looking statements. Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include SEALSQ's ability to continue beneficial transactions with material parties, including a limited number of significant customers; market demand and semiconductor industry conditions; and the risks discussed in SEALSQ's filings with the SEC. Risks and uncertainties are further described in reports filed by SEALSQ with the SEC. SEALSQ Corp 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.
