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 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 Company Contact: Carlos Moreira Chairman & CEO Tel: +41 22 594 3000 info@wisekey.com | WISeKey Investor Relations (US) Contact: Lena Cati The Equity Group Inc. Tel: +1 212 836-9611 lcati@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.
