WISeKey Cybersecurity Growing by over 60% compared to same period last as more companies required ID Management to facilitate their compliance with GDPR
WISeKey QuoVadis Identity Management, Managed PKI and Digital Signing Services penetration is growing beyond Europe, generating revenue of over $11 million for the first 7 months of 2018.
Swiss-based WISeKey QuoVadis is a leading Qualified Trust Service Provider whose e-signing services are used in more than 75 million e-signatures a year.
WISeKey QuoVadis Managed PKI Platform TrustLink Enterprise Certificate Issuance has increased by over 60% compared to same period of last year, adding multiple large-scale enterprises to its customer base.
The IOT Semiconductor business of WISeKey is also growing as for the first half of 2018, the US IoT segment generated revenues of approximately $7.1 million (unaudited) and it is expected to generate approximately $13 million of the $32 million of WISeKey’s global IoT revenue projected for FY 2018 (https://www.nasdaq.com/press-release/wisekey-us-revenue-surges-as-demand-on-iot-increases-20180731-00019).
WISeKey continues to enlarge its footprint outside Switzerland, especially in EU, USA, Saudi Arabia, India and China markets with its CyberSecurity IoT platform gaining very strong traction.
WISeKey continues its growth trend during 2018 due to the new razor and blade cybersecurity business model which is accelerating the commercialization of WISekey’s IoT semiconductor products with embedded security.
WISeKey’s razor and blade business model uses a strategy that involves selling highly secure and tamperproof microchips (or “razor” products) at very competitive rates, enabling the inclusion and promotion of the higher margin cybersecurity products and services (or “blade” services) thus bundling a very attractive combination of core security components.
ZUG, GENEVA, Switzerland – August 15, 2018 – WISeKey International Holding Ltd (WISeKey) (SIX:WIHN, OTCQX: WIKYY), a leading Swiss cybersecurity and IoT solutions company, announced today that its suite of QuoVadis products and services is growing by over 60% compared to same period of last year as more companies required ID Management to facilitate their compliance with GDP, the primary law regulating how companies protect EU citizens’ personal data. During the first half of 2018, commercial synergies with the Identity Management business of WISeKey QuoVadis commenced and resulted in further wins in securing the connected cars industry, car and automotive component manufacturers, banking and insurance, as well as eGovernment enablement services. Multi-year renewals and extensions of existing Managed PKI Platform Services Relationships with existing clients such as ABN AMRO Bank, SWITCH, Credit Suisse and Volksbanken Gruppe in Germany are a testament to the continuing and increasing need for secure communication internally as well as externally to guarantee authenticity and confidentiality.
In addition, Hublot and WISeKey renewed their collaboration launched in 2009 that has made Hublot a pioneer and leader in the field of identification and authenticity protection becoming the 1st WISeKey IoT project already embedding part of the current WISeKey’s proven technology. All Hublot watches are protected by WISeAuthentic®, the authenticity certification system based on WISeKey technology, more than 75 Hublot boutiques and more than 900 points of sale across the world are equipped with the system for activating and reading this new digital certificate. This WISeKey authentication number also allows the owner of the timepiece to register on the Hublotista platform, the brands exclusive client’s club, designed to build a strong relationship between Hublot and its customers around the world.
Compelling events such as the implementation of GDPR continue to increase demand. The managed PKI and Cybersecurity business started to generate new revenues in Europe as more companies required WISekey QuoVadis technology to facilitate their compliance with the new European General Data Protection Regulation (Directive 95/46/EC), known as GDPR (approved by the European Parliament in April 2016; took effect on May 25, 2018), the primary law regulating how companies protect EU citizens’ personal data. WISeKey’s PKI provides technology solutions that can alleviate the compliance efforts and reduce risks for penalties. The WISeKey QuoVadis product can help organizations protect sensitive personal data while in transit and at rest; this is achieved thanks to encryption solutions enabled by trusted digital certificates. Users can encrypt their personal data and control who can access to it. SSL certificates assure end users that their personal data is gathered and processed by identified and genuine service providers, while communication is encrypted.
With the provision of secure e-mail services to more than 200 savings banks in Germany, the previously announced cooperation between WISekey QuoVadis Trustlink Deutschland GmbH and Finanz Informatik to provide secure e-mail (S/MIME) communication to the German financial services sector has been growing steadily during H1, 2018. In Germany alone, WISeKey QuoVadis provides similar PKI services to more than 300 enterprises, such as Allianz, Daimler, VW Financial Services, Siemens and Commerzbank.
Digital Onboarding combined with integrated PrimoSign Engine personal signing services has delivered solid new customer revenue in Switzerland with various new clients in the Cantonal and Private Banking sector. WISeKey QuoVadis EU based digital signing services, leveraging the benefits of European qualified certificates under the eIDAS regulation across borders, are helping major global accounting firms, governments and banks to simplify processes and increase efficiencies. Multi-year signing services engagement customers include EY, PWC, KPMG, Dutch Chamber of Commerce as well as the Dutch Ministry of General Affairs. Recently launched PrimoSign Engine, the first product in the new WISeKey QuoVadis e-Signature family, has been adopted at scale by customers since autumn 2017. PrimoSign Engine enables online signature processes with qualified certificates that are legally equivalent to handwritten signatures. PrimoSign Engine thus allows the digitization of traditional, analog signature processes, regardless of whether it is used for internal (e.g. human resources workflows) or external (e.g. completely digital acquisition of new customers in the financial sector) signature requirements. With PrimoSign Engine, the user remains in their familiar working environment (such as an eBanking portal) and requires only a browser. PrimoSign Engine operates completely in the background and can be implemented in almost any application via a simple REST API integration. By maintaining the familiar user environment and customer experience, the acceptance and use of e-Signature is increased and thus also the conversion rate. The next development of the PrimoSign Suite is already imminent: PrimoSign Portal. While PrimoSign Engine still requires an existing customer portal with strong two-factor authentication, PrimoSign Portal itself provides a simple web application via which documents can be signed. Tailor-made and branded to the needs of the customer.
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. 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: WIHN; OTCQX: WIKYY) is a leading global cybersecurity company currently deploying via a Virtual Platform large scale digital identity ecosystem. WISeKey’s Swiss based cryptographic Root of Trust (“RoT”) and IoT Microchips provide 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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