QuoVadis Integration into the WISeKey Vertical Platform Yields Revenue Growth and New Clients
GENEVA – WISeKey International Holding, Ltd (SIX: WIHN), a leading Swiss cybersecurity and IoT company, announced today that the integration of QuoVadis as the Managed PKI (Public Key Infrastructure) of WISeKey Vertical Platform is rapidly yielding results for the company.
QuoVadis has more than 300 large-cap and 3000 overall customers worldwide including Europe, the United States, and Australia. For FY2016, QuoVadis generated revenues of approx. USD17.6 million and EBITDA of approx. USD3.2 million. For FY2017, pro forma QuoVadis projects stand-alone revenues more than USD20 million and EBITDA of between US5 million and USD7 million.
“Since the acquisition of QuoVadis in April of 2017, we have taken steps to consolidate WISeKey’s managed digital certificate and e-signature business under the well-respected QuoVadis brand,” said Carlos Moreira, Chairman and CEO of WISeKey.
“As part of WISeKey, during first half of 2017 QuoVadis grew its top line by more than 10% to USD10.2 million and EBITDA by 15%, which is in line with our expectations. QuoVadis’ strong book of recurring revenue, combined with significant revenues expected from new clients signed up since the beginning of the year, gives us the confidence to believe that QuoVadis is on track to meeting its 2017 financial targets. With its on-ground sales and strong operations teams, QuoVadis has expanded WISeKey’s reach in key European and international markets and is an important driver in WISeKey’s growth strategy,” added Mr. Moreira.
The full integration of QuoVadis brings strong synergies to WISekey due to: the large recurring customer base of QuoVadis’ proven Trust/Link and sealsign technologies; in-depth operations experience running multiple secure and high-availability trust Centre environments under strict accreditation regimes; and adoption of sales and support teams based in several important customer markets, including Switzerland.
Roman Brunner, Managing Director of QuoVadis, said, “We have quickly found common ground with other WISeKey operations, enabling us to build a joint approach for rapidly evolving new markets. For example, QuoVadis and WISeKey Semiconductors bring a joint expertise in high-volume custom PKI and cryptographic chips for the Internet of Things (IoT) sector which is already gaining traction in the automotive industry and other burgeoning IoT markets.”
“Additionally, new generations of QuoVadis’ managed platforms expected later in 2017 will introduce new capabilities driven by evolving customer needs as well as widen QuoVadis and WISeKey partnerships in the digital certificate and electronic signature markets,” continued Mr. Brunner.
QuoVadis is a leading global Certification Authority (CA) providing cloud-based Trust/Link Managed PKI (Public Key Infrastructure) services, including TLS/SSL digital certificates for web security as well as eID for authentication, encryption, and digital signature.
QuoVadis also provides e-signature platforms including mass signature and trusted time-stamping solutions for e-invoicing, as well as cloud-based signing platforms for individuals. QuoVadis e-signatures are used on more than 60 million electronic transactions annually.
QuoVadis is an established Qualified Trust Services Provider (TSP) for eID and electronic transactions in Switzerland under ZertES and with updated eIDAS accreditations pending for the European Union. The company also has significant experience in public eID including the Dutch PKIoverheid and the Swiss SuisseID programmes.
QuoVadis customers include a spectrum of multinational companies, financial services entities, university systems and public sector organizations worldwide.
WISeKey (SIX Swiss Exchange: WIHN) is a leading global cybersecurity company currently deploying large scale digital identity ecosystems with a patented process. 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 and www.quovadisglobal.ch.
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|Press and investor contacts|
|WISeKey Company||WISeKey Investor Relations (US)|
|Contact: Carlos Moreira||Contact: Lena Cati|
|Chairman & CEO||The Equity Group Inc.|
|Tel: +41 22 594 3000||Tel: +1 212 836-9611|
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