SEALSQ Further Expands its North American Footprint by Signing a Distribution Agreement with Symmetry
SEALSQ Further Expands its North American Footprint by Signing a Distribution Agreement with Symmetry
GENEVA – July 24, 2023: WISeKey International Holding Ltd. (“WISeKey”) (SIX: WIHN, NASDAQ: WKEY), a leader in cybersecurity, digital identity, and Internet of Things (IoT) solutions operating as a holding company, today announced that its Semiconductors & PKI subsidiary SEALSQ Corp. (NASDAQ: LAES) and Symmetry Electronics (“Symmetry”), a worldwide distributor of semiconductors and embedded electronics, have signed a Distribution Agreement covering North America.
Symmetry’s worldwide sales and engineering team delivers unparalleled technical services to customers and offers an exceptional e-commerce experience. With its focused line card, growing inventory, and unsurpassed technical support, Symmetry strives to support design engineers and buyers throughout the design cycle and into production.
As part of the Exponential Technology Group (XTG), a member of the TTI, Inc. Family of Specialists, Symmetry provides its suppliers with the fortified support of XTG’s network. Supported by the strength of Berkshire Hathaway, TTI Inc.’s Family of Specialists includes TTI, XTG, Mouser Electronics, and Sager Electronics.
Symmetry’s specialized teams will be supported by SEALSQ’s existing North American Sales & Application Team who has over 20 years of senior level business experience in the semiconductors, PKI-IoT, connectivity, and integration field.
David Khalifa, VP of Global Sales for WISeKey said, “The agreement with Symmetry will expand our customer reach throughout the North American market, specifically on the applications SEALSQ targets such as Smart city, Smart home, Smart appliances or Industrial IoT. Symmetry’s strong technical expertise will be a key asset to deploy our end-to-end security solutions into the North American market.”
Symmetry Vice President and General Manager, Keenan Jeworski, expressing his views of the new partnership, noted “We are extremely pleased to announce SEALSQ as the latest addition to our growing line card and look forward to many years of growth and success. This collaboration opens up boundless possibilities for both organizations as we combine our expertise and resources to create transformative solutions for the electronics industry.”
About Symmetry
Established in 1998, Symmetry Electronics is a focused global distributor of wireless connectivity solutions, sensors, and audio-video technologies. Offering comprehensive design support and available-to-ship inventory, Symmetry is committed to helping engineers accelerate time to market, reduce costs, and offer modern solutions for their IoT designs. Acquired by the Berkshire Hathaway company TTI, Inc. in 2017, Symmetry Electronics is headquartered in Los Angeles with international offices in Mexico, Canada, and China. For more information visit https://www.symmetryelectronics.com
About SEALSQ
SEALSQ (Nasdaq: LAES) is a subsidiary of the WISeKey Group that focuses on developing and selling 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 devices, Home Automation, 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, visit www.sealsq.com.
About WISeKey
WISeKey International Holding Ltd (“WISeKey”, SIX: WIHN; Nasdaq: WKEY) is a global leader in cybersecurity, digital identity, and IoT solutions platform. It operates as a Swiss-based holding company through several operational subsidiaries, each dedicated to specific aspects of its technology portfolio. The subsidiaries include (i) SEALSQ Corp (Nasdaq: LAES), which focuses on semiconductors, PKI, and post-quantum technology products, (ii) WISeKey SA which specializes in RoT and PKI solutions for secure authentication and identification in IoT, Blockchain, and AI, (iii) WISeSat AG which focuses on space technology for secure satellite communication, specifically for IoT applications, and (iv) WISe.ART Corp which focuses on trusted blockchain NFTs and operates the WISe.ART marketplace for secure NFT transactions.
Each subsidiary contributes to WISeKey’s mission of securing the internet while focusing on their respective areas of research and expertise. Their technologies seamlessly integrate into the comprehensive WISeKey platform. WISeKey secures digital identity ecosystems for individuals and objects using Blockchain, AI, and IoT technologies. With over 1.6 billion microchips deployed across various IoT sectors, WISeKey plays a vital role in securing the Internet of Everything. The company’s semiconductors generate valuable Big Data that, when analyzed with AI, enable predictive equipment failure prevention. Trusted by the OISTE/WISeKey cryptographic Root of Trust, WISeKey provides secure authentication and identification for IoT, Blockchain, and AI applications. The WISeKey Root of Trust ensures the integrity of online transactions between objects and people. For more information on WISeKey’s strategic direction and its subsidiary companies, please visit www.wisekey.com.
Press and investor contacts:
| WISeKey International Holding Ltd Company Contact: Carlos Moreira Chairman & CEO Tel: +41 22 594 3000 [email protected] |
WISeKey Investor Relations (US) Contact: Lena Cati The Equity Group Inc. Tel: +1 212 836-9611 [email protected] |
Disclaimer:
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.
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