WISeKey Cybersecurity Continues its Rapid Expansion with the Integration of QuoVadis Managed Cybersecurity Services and Technologies into its Vertical Platform
GENEVA, Switzerland – December 19, 2017 – WISekey International Holding (WIHN.SW) (“WISeKey”), a leading Swiss cybersecurity and IoT company, announced today that the full integration of QuoVadis into the WISeKey Vertical Trust Platform has substantially increased the performance and revenues for its Cybersecurity vertical and opened new opportunities in Managed PKI Services.
WISeKey’s QuoVadis Cybersecurity-as-a-Service (CSaaS) offering has now more than 300 large-cap and 3,500 overall customers worldwide including Europe, the United States and Australia. The demand for Cybersecurity services is increasing and for FY2017 WISeKey QuoVadis projects stand-alone yearly revenues more than USD 20 million.
“Since the acquisition of QuoVadis in April of 2017, we have taken steps to consolidate WISeKey’s leading managed digital certificate and electronic signature business under the well-respected QuoVadis brand,” said Carlos Moreira, Chairman and CEO of WISeKey. “The new WISekey Quovadis European brand competes with leading companies such as RSA, Digicert, Symantec and Entrust, all US centric.
“As part of WISeKey, during FY2017 QuoVadis grew its top line by more than 14% to USD 20 million which is in line with our expectations. WISeKey QuoVadis’ strong recurring revenue, combined with significant revenues generated from new clients signed up since the beginning of the year, gives us the confidence that QuoVadis will continue its growth in 2018. With its on-ground sales and strong operations teams, WISeKey QuoVadis has expanded WISeKey’s reach in key European and international markets and is has become an important driver in WISeKey’s growth strategy,” added Mr. Moreira.
In 2017, WISeKey QuoVadis also reaffirmed its role as an accredited Qualified Trust Service Provider (“TSP”) under the EU eIDAS regulations for electronic ID, authentication, and signing services, and launched a new generation of its PrimoSign electronic signature platform, including expanded options for “digital on boarding” of new users from any online device. Initial partners and clients for these services include Intrum Justitia, IDnow and ELVIA eInvest in Switzerland. Additionally, WISeKey QuoVadis’ TSP qualifications specifically support the enablement of WISeKey QuoVadis electronic signature services tailored to regional government driven compliance requirements for the Dutch accounting industry.
The integration of QuoVadis brings strong synergies to WISeKey due to the large recurring customer base of QuoVadis’ proven Trust/Link, PrimoSign, and ISTANA technologies; in-depth operations experience running secure and high-availability trustcenter environments under strict accreditation regimes; and responsive sales and support teams based in several important customer markets, including Switzerland.
In 2017, WISeKey QuoVadis reinforced its role in the strategic Internet of Things (IoT) market with the introduction of the ISTANA PKI, a platform specifically tailored to the needs of IoT ecosystems. ISTANA PKI allows smart car manufactures to validate the authenticity of different vehicle components using embedded digital certificates which can be used by employees, dealers and suppliers to access car components to diagnose mechanical/technical issues and update software, from any location. ISTANA PKI also protects on-board communication between vehicle components, enables secure over-the-air software updates and allows vehicle owners to securely interact with their car’s smart features using smartphones and other devices.
Currently, WISeKey is working with several smart car manufacturers and its ISTANA PKI platform is already active in several large-scale projects. A recent example is a strategic contract signed with a leading European automobile manufacturer, cementing WISeKey’s role in the Connected Car sector. The agreement includes the integration of WISeKey IoT and PKI with the manufacturer’s connected car solutions, allowing them to authenticate legitimate car components and enable owners to securely interact with the car’s smart features.
WISeKey’s total identifiable 5-year ISTANA revenues from the car manufacturing industry are expected to be in excess of USD 30 million, of which approximately USD 2.5 million and USD 7.0 million are expected to be realized in 2017 and 2018, respectively.
Roman Brunner, Chief Revenue Officer of WISeKey, said, “2017 was a growth year for the WISeKey QuoVadis operations as we saw over a decade of development pay off with increased sales, expanded services, and larger geographic footprint. Looking ahead to 2018, we expect to see further growth from WISeKey QuoVadis operations as we continue to redefine the way Cybersecurity is delivered and managed. Strong ongoing demand in the area of “advanced solutions for secure corporate email” continue to support our growth specifically in the Banking, Financial Services and pharmaceutical segments in Germany and Switzerland next to “integrated personal electronic signature services” combined with Managed PKI.”
“Additionally, WISeKey QuoVadis will soon add new generations of its managed platforms, developed to meet the fast-evolving needs of large existing and new enterprise clients across the world. These will widen the WISeKey group sales and partnerships in the digital certificate and electronic signature markets across the board,” concluded Mr. Brunner.
About WISekey QuoVadis
WISeKey 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.
WISeKey QuoVadis also provides electronic-signature platforms including mass signature and trusted time-stamping solutions for e-invoicing, as well as cloud-based signing platforms for individuals. QuoVadis electronic-signatures are used on more than 60 million electronic transactions annually.
WISeKey QuoVadis is an established Qualified Trust Services Provider (TSP) for eID and electronic transactions in Switzerland under ZertES and with updated eIDAS accreditations 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. 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
| WISeKey Investor Relations (US)
Contact: Lena Cati
The Equity Group Inc.
Tel: +1 212 836-9611
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