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WISeKey established WISeKey Arabia, a JV with Saudi Advanced Technologies company Ltd, a wholly owned company of E.A. Juffali & Brothers and localized its cybersecurity and IoT offerings in the Middle EastWISeKey established WISeKey Arabia, a JV with Saudi Advanced Technologies company Ltd, a wholly owned company of E.A. Juffali & Brothers and localized its cybersecurity and IoT offerings in the Middle East WISeKey and E.A Juffali & Brothers group join forces to implement a strategy for the development of cybersecurity and IoT market in Saudi Arabia, with the objective of expanding WISeKey’s presence in the Middle East with the common objective of establishment WISeKey Arabia as one of the country’s leading providers of cybersecurity, Internet of Things (IoT) and Blockchain services for the growing Middle East market. The overarching objective of the new company is to establish a market foothold with credible in-country leaders to maximize near-term revenue, while at the same time create significant market opportunities in sectors such as: retail, financial transaction, automotive, smart cities, consumer products, healthcare, smart cards, industrial, transportation, and IT infrastructure. WISeKey’s strategy to enter new regions via long-lasting relationships with a strategic partner, bings a stream of high-profile clients that are in high demand for cybersecurity solutions, such as digital identity and privacy, secure mobile communication, secure cloud computing, IoT, secure semi-conductors, Blockchain and other innovative technologies offered by WISeKey. The joint venture will benefit from the previous MoU signed with SAT in 2018 to expand WISeKey’s current operations in the Kingdom of Saudi Arabia, having as a goal the expansion into other Middle Eastern countries. Through its alliance with SAT, WISeKey has explored and secured additional synergies with leading companies in the region whose values and product portfolio align well with its mission to provide state-of-the-art technology and cybersecurity services, using a highly secure data center located in the region. WISeKey, in cooperation with SAT is currently developing a Root of Trust (RoT) and a Public Key Infrastructure (PKI) in the Kingdom of Saudi Arabia, including a globally trusted Certification Authority within a security strategy framework. PKI provides the necessary security (encrypted and digital signatures) for electronic transactions. WISeKey already secures many banks in the Gulf region, including the National Bank of Kuwait and regional Middle East branch offices by providing S/MIME digital certificates for secure e-mail to more than 200 savings banks. Carlos Moreira, Founder and CEO of WISeKey International Holding, said: “The opportunity for WISeKey Arabia joint venture is unequaled in the market. WISeKey is the only company in the world that delivers a vertical cybersecurity service platform from Root of Trust to Chip. The joint venture will deliver an end-to-end solution to the Juffali ecosystem of companies across the country. Over the years Juffali has, developed partnerships with world-leading companies across many sectors. About WISeKey: WISeKey (SIX Swiss Exchange: WIHN) is a leading global cybersecurity company currently deploying large scale digital identity ecosystems for people and objects using Blockchain, AI and IoT respecting the Human as the Fulcrum of the Internet. WISeKey Semiconductors secure the pervasive computing shaping today’s Internet of Everything. WISeKey has an installed base of over 1 billion microchips in virtually all IoT sectors (connected cars, smart cities, drones, agricultural sensors, anti-counterfeiting, smart lighting, servers, computers, mobile phones, crypto tokens etc.). WISeKey is uniquely positioned to be at the edge of IoT as our semiconductors secure a huge amount of Big Data that, when analyzed with Artificial Intelligence (AI), can help industrial applications to predict the failure of their equipment before it happens. Our technology, trusted by the 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. Press and investor contacts:
Saudi Advanced Technologies Ltd. Disclaimer: 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. |