WISeKey International Holding Ltd (“WISeKey”, SIX: WIHN), a cybersecurity company announced today its intention to acquire the secure Internet of Things (“IoT”) integrated circuit solutions and semiconductor business from INSIDE Secure, a provider of embedded security solutions for mobile and connected devices.
The intended acquisition and technology integration would seek to create the first ever comprehensive trusted end-to-end cybersecurity platform for people and objects (IoT). WISeKey cybersecurity offer will include certified hardware & software, system certification, provisioning and up to management of services.
The scope of the transaction would include the transfer of products, technology, customer agreements, and certain patents. More specifically, it would include the transfer of assets related to the development and sale of secure integrated circuits for the strongly growing IoT market as well as a complete team in R&D, sales, marketing and support.
The agreement is pending the completion of consultation and regulatory processes.