SEALSQ Corp and WISeKey Expand Digital Transformation Efforts in Saudi Arabia

SEALSQ Corp expands technology initiatives in Saudi Arabia, focusing on digital transformation, cybersecurity, and collaboration with key local partners.

Quiver AI Summary

SEALSQ Corp, a semiconductor and cyber technology company, has announced its plans to expand its operations in Saudi Arabia in partnership with its parent company, WISeKey International Holding, and the Juffali Group. This initiative aims to support the Kingdom's digital transformation and enhance its cybersecurity capabilities in line with Vision 2030. The collaboration, through the joint venture WISeKey Arabia, will introduce advanced technologies such as Public Key Infrastructure and quantum-resistant cryptographic solutions. The companies will also deploy WISeSat.Space, a secure satellite communication system for IoT devices, and collaborate with Hedera on blockchain applications, further promoting innovation in sectors like AI and quantum computing. Overall, the partnership seeks to equip Saudi businesses and government entities with cutting-edge tools for success in a rapidly evolving digital landscape.

Potential Positives

• SEALSQ is expanding its operations in Saudi Arabia, supporting the Kingdom's digital transformation and cybersecurity advancements through a partnership with WISeKey and the Juffali Group.
• The introduction of advanced technologies like WISeSat.Space offers significant enhancements to satellite communication and IoT security, providing end-to-end security and cost-efficient solutions for local businesses and government entities.
• This initiative aligns with Saudi Arabia's Vision 2030, emphasizing innovation and economic diversification while supporting national initiatives such as the Centre for the Fourth Industrial Revolution and the Quantum Economy project.
• The collaboration with Hedera and The Hashgraph Association, alongside the establishment of the $250M DeepTech Venture Studio, creates substantial opportunities for startups in Saudi Arabia, particularly in the blockchain and AI sectors.

Potential Negatives

• Dependence on partnerships with established companies like WISeKey and Juffali Group may indicate a lack of independent capabilities and raises concerns about its own technological competencies.
• Vagueness regarding the specifics of technological innovations being introduced may leave investors questioning the feasibility and clarity of the outlined objectives.
• Forward-looking statements highlight significant uncertainties and risks, suggesting potential instability in achieving projected outcomes related to technology strategy and market performance.

FAQ

What is SEALSQ Corp's role in Saudi Arabia's digital transformation?

SEALSQ is partnering with WISeKey to enhance cybersecurity and introduce advanced technology solutions to support Saudi Arabia's digital transformation.

How does the partnership with WISeKey benefit Saudi Arabia?

The collaboration focuses on fostering a secure digital ecosystem in line with Vision 2030, providing solutions like PKI and quantum-resistant technologies.

What technologies will be introduced through WISeSat.Space?

WISeSat.Space will offer secure satellite communication, IoT security, end-to-end encryption, and cost-effective solutions for various applications in Saudi Arabia.

What is the DeepTech Venture Studio initiative?

The DeepTech Venture Studio supports startups in Saudi Arabia with funding and technology solutions in blockchain, AI, IoT, and quantum computing.

How does this partnership align with Vision 2030?

SEALSQ and WISeKey’s initiatives support Vision 2030 by promoting innovation, digital transformation, and economic diversification within the Kingdom.

Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.

$LAES Hedge Fund Activity

We have seen 1 institutional investors add shares of $LAES stock to their portfolio, and 6 decrease their positions in their most recent quarter.

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• ANSON FUNDS MANAGEMENT LP removed 649,533 shares (-100.0%) from their portfolio in Q3 2024
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• TWO SIGMA SECURITIES, LLC removed 16,849 shares (-100.0%) from their portfolio in Q3 2024
• JANE STREET GROUP, LLC added 15,663 shares (+inf%) to their portfolio in Q3 2024
• VIRTU FINANCIAL LLC removed 11,662 shares (-100.0%) from their portfolio in Q3 2024
• UBS GROUP AG removed 4,221 shares (-92.0%) from their portfolio in Q3 2024
• FEDERATION DES CAISSES DESJARDINS DU QUEBEC removed 1,500 shares (-15.8%) from their portfolio in Q3 2024

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Full Release

Riyadh, Saudi Arabia, Jan. 13, 2025 (GLOBE NEWSWIRE) --

SEALSQ Corp (NASDAQ: LAES) ("SEALSQ" or "Company"), a company specializing in Semiconductors, PKI, and Post-Quantum technology hardware and software products, today announced that in partnership with its parent company, WISeKey International Holding (“WISeKey”) (SIX: WIHN, NASDAQ: WKEY), is scaling its presence in Saudi Arabia to support the Kingdom’s digital transformation and cybersecurity advancements. Through their joint venture, WISeKey Arabia, in collaboration with the Juffali Group, SEALSQ and WISeKey aim to gradually introduce groundbreaking technology innovations tailored to Saudi Arabia’s unique needs.

In 2019, WISeKey Arabia, in partnership with the Juffali Group, a leading Saudi business conglomerate, is committed to fostering a secure digital ecosystem in alignment with Vision 2030. The collaboration focuses on providing state-of-the-art solutions, including Public Key Infrastructure (PKI), digital identity management, and IoT security, enhanced with SEALSQ’s quantum-resistant cryptographic technologies. This initiative ensures a robust foundation for Saudi businesses and government entities to thrive in an increasingly digital world.

Gradual Deployment of Cutting-Edge Technologies



SEALSQ and WISeKey plan to gradually introduce innovative solutions to Saudi Arabia’s technology landscape, including advancements in satellite communication and IoT security through the WISeSat.Space ecosystem. WISeSat.Space, WISeKey’s pioneering low-power, secure satellite solution, enables real-time data processing for IoT devices in remote locations.

The system is designed to provide:

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  End-to-End Security: Utilizing quantum-resistant encryption to protect critical IoT data.
  


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  Cost-Efficiency: Reducing the barriers to satellite communication for businesses and government projects.
  


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  Scalability: Supporting diverse applications, including environmental monitoring, smart cities, and supply chain optimization.
  
  
  
  
  

WISeSat.Space’s integration into the Saudi market represents a strategic step in equipping local industries with the tools needed to excel in the Fourth Industrial Revolution.

Partnership with Hedera and The Hashgraph Association



In addition to WISeSat.Space’s deployment, SEALSQ and WISeKey are collaborating with Hedera, leveraging its enterprise-grade distributed ledger for blockchain-based applications. These efforts align with The Hashgraph Association’s five-year partnership with the Saudi Ministry of Investment Association, which includes the launch of the $250M DeepTech Venture Studio. The DeepTech Venture Studio is designed to support startups operating within Saudi Arabia in areas such as blockchain, AI, IoT, robotics, and quantum computing.

Funded with $50M from The Hashgraph Association and $200M from the Saudi Ministry of Investment Association, the DeepTech Venture Studio provides significant opportunities for Saudi-based companies leveraging Hedera’s hashgraph network. WISeKey Arabia will serve as a trusted technology partner, empowering startups with secure and scalable solutions.

Aligning with Vision 2030



WISeKey and SEALSQ’s plans align with Saudi Arabia’s Vision 2030, which emphasizes innovation, digital transformation, and economic diversification. The partnership supports key national initiatives, including the Centre for the Fourth Industrial Revolution (C4IR) Saudi Arabia and the Quantum Economy project, ensuring that the Kingdom remains a global leader in advanced technologies.

“Our commitment to Saudi Arabia extends beyond cybersecurity,” said Carlos Moreira, CEO of SEALSQ. “By introducing groundbreaking technologies like WISeSat and collaborating with key partners such as the Juffali Group, Hedera, and The Hashgraph Association, we aim to empower the Kingdom’s businesses and government with the tools they need to succeed in a rapidly evolving digital landscape.”

About SEALSQ:



SEALSQ focuses on selling integrated solutions based on Semiconductors, PKI and Provisioning services, while developing Post-Quantum technology hardware and software products. Our solutions can be used in a variety of applications, from Multi-Factor Authentication tokens, Smart Energy, Smart Home Appliances, Medical and Healthcare and IT Network Infrastructure, to Automotive, Industrial Automation and Control Systems.

Post-Quantum Cryptography (PQC) refers to cryptographic methods that are secure against an attack by a quantum computer. As quantum computers become more powerful, they may be able to break many of the cryptographic methods that are currently used to protect sensitive information, such as RSA and Elliptic Curve Cryptography (ECC). PQC aims to develop new cryptographic methods that are secure against quantum attacks. For more information, please visit www.sealsq.com.

Forward-Looking Statements



This communication expressly or implicitly contains certain forward-looking statements concerning SEALSQ Corp and its businesses. Forward-looking statements include statements regarding our business strategy, financial performance, results of operations, market data, events or developments that we expect or anticipates will occur in the future, as well as any other statements which are not historical facts. Although we believe that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates which are inherently subject to significant uncertainties and contingencies, many of which are beyond our control. Actual results may differ materially from those expressed or implied by such forward-looking statements. Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the expected success of our technology strategy and solutions for IoMT Security for Medical and Healthcare sectors, SEALSQ's ability to implement its growth strategies, SEALSQ's ability to continue beneficial transactions with material parties, including a limited number of significant customers; market demand and semiconductor industry conditions; and the risks discussed in SEALSQ's filings with the SEC. Risks and uncertainties are further described in reports filed by SEALSQ with the SEC.

SEALSQ Corp 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.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.