WISeKey International Holding SA / WISeKey presents its China Deployment strategy at the Asia Pacific M&A Association Summit in Shenzhen . Processed and transmitted by West Corporation. The issuer is solely responsible for the content of this announcement.
WISeKey presents its China Deployment strategy at the Asia Pacific M&A Association Summit in Shenzhen
ZUG, Switzerland - December 8, 2018 - WISeKey International Holding Ltd ("WISeKey", SIX: WIHN, OTCQX: WIKYY), a leading cybersecurity and IoT company, today announced that Carlos Moreira, Founder and CEO presented to delegates of the Asia Pacific M&A Association Summit in Shenzhen his plans to quickly expand the reach of WISeKey in the growing Chinese market and become one of the country's leading providers of Semiconductors, Internet of Things (IoT) and Blockchain services.
The over-arching objective of WISekey in China is to establish a market foothold with credible in-country leaders to maximize revenue in the near-term and realize reputable category position in the sectors of: retail, financial transaction, mobile communications, automotive, smart cities, consumer products, healthcare, smart card, industrial, transportation, and IT infrastructure, in the long-term.
Switzerland, the home country of WISeKey, enjoys a pioneering relationship with China, being one of the first western countries that recognised the People's Republic of China in 1950 - just one year after its creation. Switzerland was also early to recognise China as a market economy in 2007. In 2013, Switzerland became the first European country to sign a free-trade agreement with Beijing and, in 2016, Switzerland was one of the first countries in Europe to join the Asian Infrastructure Investment Bank.
WISeKey is already manufacturing the WISePhone in Shenzhen and is localizing its IoT IP and technology.
WISeKey entered the sophisticated Chinese semiconductor and IoT market through the signing of several commercial agreements with Chinese companies. Recently, WISeKey announced that its IoT Blockchain technology is to be deployed in selected smart cities in China while its chips are already deployed for the Nanjing Smart City project. Chinese companies, such as Feitian Technologies, are working with WISekey to develop innovative hardware and software solutions to enable users, applications and devices to securely authenticate the networks, verify the authenticity and integrity of firmware upgrades, and limit access to sensitive information to authentic users only.
Already, China is the largest market in the world for IoT with a 22% market share and over 1/3 of the Machine-to-Machine (M2M) connections for multiple machines, devices and appliances to the internet by multiple networks are in China. The WISeKey China JV which was established earlier this year, is
expected to fully capitalize on WISeKey's pioneering role in secure IoT and M2M communication. China's IOT and M2M market value is estimated to grow from $80 billion in 2015 to over $160 billion by 2020. China's semiconductor consumption growth has continued and in 2016 far exceeded the worldwide semiconductor market growth for the sixth consecutive year. Specifically, China's semiconductor consumption market grew by 2.9% in 2016 to reach a new record of 60.6% of the global market while the worldwide semiconductor market only grew by 1.1%. During the past ten years, China's semiconductor consumption has grown at a 12.0% compound annual growth rate (CAGR), while total worldwide consumption has only grown at a 3.2% CAGR. The worldwide semiconductor market as reported by the World Semiconductor Trade Statistic organization (WSTS) has grown by $91 billion from 2006 to 2016 while China's semiconductor consumption as reported by China Semiconductor Industry Association (CSIA) has grown by US$150 billion, in the same period.
Mr. Moreira said: "WISeKey China is well positioned to take advantage of significant market expansion opportunities in China by combining the international brand and trust model of WISeKey with Chinese technologies and know how. This market represents a great revenue opportunity for WISeKey as China is currently the world's largest consumer of chips, but it manufactures only 16 percent of the semiconductors it uses domestically. Currently, China imports about $200 billion worth of chips annually - a value exceeding its oil imports. To cultivate a domestic industry, the government of China has slashed taxes for chip makers and plans to invest as much as $32 billion (https://www.bloomberg.com/news/articles/2018-03-01/china-is-said-raising-up-to-31-5-billion-to-fuel-chip-vision) to become a world leader in design and manufacturing."
WISeKey (SIX: WIHN; OTCQX: WIKYY) 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 (http://www.wisekey.com).
To receive WISeKey's latest news visit the WISeKey Investors Corner (https://www.wisekey.com/investors/).
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
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.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: WISeKey International Holding SA via Globenewswire
--- End of Message ---
WISeKey International Holding SA
General-Guisan-Strasse 6 Zug Switzerland