ZUG, Switzerland–(BUSINESS WIRE)–WISeKey International Holding Ltd (“WISeKey” or the “Company”) (SIX:WIHN) introduced as we speak its full 12 months monetary outcomes for the interval ending December 31, 2016. The 2016 Annual Report, together with the consolidated and standalone monetary statements for monetary 12 months 2016 and the compensation report, shall be downloadable from https://www.wisekey.com/investors/reports/annual-reports/ earlier than the beginning of buying and selling of WISeKey’s Class B Shares on SIX Swiss Exchange on May eight, 2017.
The 12 months 2016 was a transformative 12 months for WISeKey, because it concerned a considerable reorganization in preparation for the profitable itemizing of the Company’s Class B Shares on the SIX Swiss Exchange on 31 March, 2016. Since then, WISeKey has achieved important milestones within the implementation of its imaginative and prescient and technique to change into a worldwide main Vertical Cybersecurity Platform firm by integrating Root of Trust, eIDS, IoT and Blockchain to offer end-to-end companies to its shoppers.
- On 20 September 2016, WISeKey closed the beforehand introduced acquisition of Vault IC, the semiconductor actions of INSIDE Secure, a market chief in semiconductors. The FY2016 monetary outcomes of WISeKey mirror roughly one quarter of the Vault IC acquisition. In sum, WISeKey confirmed FY2016 consolidated revenues of USD11.6 million which compares to mixed consolidated revenues of USD2.three million for FY2015. Reported consolidated internet loss for FY2016 was USD37.2 million, impacted by non-cash, accounting e-book losses of USD24.eight million arising from the company reorganization of the WISeKey Group, which was accomplished in March 2016 previous to the itemizing of its Class B Shares on SIX Swiss Exchange Ltd, and the issuance of choices and warrants in Q1 2016 previous to the itemizing with a strike beneath the then hypothetical market value for the WISeKey Shares of between CHF10.00 and CHF15.00. This consolidated internet loss for FY2016 compares to a consolidated internet loss for FY2015 of USD6.5 million. As of 31 December 2016, the money steadiness of WISeKey was USD5.2 million. Other than the necessary convertible mortgage observe with a principal quantity of USD11.zero million, which was issued to Inside Secure as a part of the acquisition value consideration for the acquisition of Vault IC and which is formally accounted for as “financial debt” underneath US GAAP, WISeKey had no monetary debt excellent as of 31 December 2016.
Recent Developments & Outlook
- WISeKey accomplished a debt elevating transaction on three April, 2017 whereby it obtained a USD16.four million secured line of credit score facility for acquisition financing with maturity as much as 18 months from ExWorks Capital, a U.S. non-public debt fund specializing in worldwide commerce and dealing capital financing.
- This ExWorks credit score facility allowed WISeKey to finish on three April, 2017 the acquisition of 85% of the issued and excellent fairness curiosity of QuoVadis Holdings Limited, the holding firm of the QuoVadis Group, in a transaction. The acquisition of QuoVadis represents an extra key milestone in WISeKey’s development technique to consolidate the European Cybersecurity & IoT trade sector. WISeKey is on its path to changing into the main Cybersecurity Vertical Platform while addressing the quick rising IoT Cybersecurity and Blockchain area. WISeKey is leveraging alternatives arising from efforts to consolidate the extremely fragmented Cybersecurity trade, which is within the midst of a offers increase, by specializing in cash-generating corporations and smaller start-ups with modern applied sciences on Cybersecurity, IoT, Blockchain and Artificial Intelligence (”AI”).
- The professional forma mixed consolidated 12-months revenues for FY2016 of WISeKey, Vault IC and together with QuoVadis are roughly USD52 million, while professional forma mixed consolidated EBITDA for FY2016 for WISeKey, Vault IC and Quovadis (excluding accounting non-cash e-book loss underneath US GAAP from issuance of worker choices) was roughly minus USD3 million.
- In November 2016, WISeKey established a Joint Venture firm, along with main Indian entrepreneurs, with a view to serve the Indian market. This Joint Venture firm raised an preliminary USD1.three million, with a dedication from the Indian companions to generate USD20 million of revenues for the Joint Venture in India in the course of the interval 2017-2019, and the potential of an extra fairness funding of USD20 million by new buyers. The Joint Venture was established to deploy WISeKey IoT and Cybersecurity Platform to the Indian market. Under this settlement, the Joint Venture will localize WISeKey’s Cybersecurity Platform and supply Indian clients – each people and organizations – trusted identities for the Internet of Things (IoT) objects and mobiles, enabling them to finish safe on-line transactions with confidence, belief the identities of others, and the identities of the IoT infrastructure. These transactions will run by way of localized Root of Trust (“RoT”), serve the Indian Ecosystem, and can profit sectors resembling telecom, manufacturing, retail, and e-commerce.
- Also in November 2016, WISeKey introduced that it has reached an settlement with main Argentinian buyers to roll out its Joint Venture mannequin in Argentina. Further to such announcement, WISeKey signed in April 2017 a cooperation settlement with Argentina’s National Investment & Trade Promotion Agency to determine a Blockchain Center of Excellence in Buenos Aires and place the nation as a significant hub of the Fourth Industrial Revolution.
- WISeKey’s technique to consolidate the European Cybersecurity and Blockchain market implies a relentless analysis of potential add-on acquisitions. Thus, WISeKey constantly explores the potential of potential further strategic acquisitions, particularly in excessive development Cybersecurity markets resembling China and the USA. In addition, following the institution of a Joint Venture in India and the announcement of a Joint Venture in Argentina, WISeKey is contemplating the institution of further WISeKey Joint Ventures in chosen markets to function underneath WISeKey’s National Root of Trust.
Mr. Moreira Chairman and CEO of WISeKey commented: “2016 was a transformational year for WISeKey. In March 2016, WISeKey went public on SIX Swiss Exchange. In September 2016, we completed the acquisition of VaultIC, the IoT integrated circuits and semiconductor business of INSIDE Secure and created the first ever comprehensive trusted end-to-end Cybersecurity platform for people and objects (IoT). The Vault IC acquisition alone, is expected to add over USD30 million into our top line for FY2017. Together with QuoVadis, the acquisition we closed at the end of March 2017, these two businesses are expected to add more than USD50 million (pro forma combined) to our top line in FY2017, whilst new business generated from cross-selling opportunities, e.g. Joint Venture Agreements we already signed in 2016 in India and Argentina and others currently discussed for other jurisdictions, as well as revenues generated from WISeKey’s existing clientele, are expected to bring significant additional revenues in FY2017. While we started 2017 on a strong note, will continue to take steps to further expand our business in the U.S. and internationally, having as an ultimate goal the increase of shareholder value. We look forward to announcing our progress as we hit new milestones.”
WISeKey is a worldwide main Cybersecurity firm. Since its basis in 1999, WISeKey has offered specialised applied sciences for knowledge safety and efficient identification and authentication of individuals and objects to make sure secured communications and transactions with out compromising belief. WISeKey runs its personal Root of Trust Cybersecurity platform and identity-based knowledge safety options for worldwide organizations, governments, enterprises, and customers spanning 102 international locations. In 2015 its Root of Trust primarily based safety was embedded in over 2.6 billion browsers, sensors and wearables. WISeKey additionally provides the trade’s trusted suite of IoT safety merchandise utilizing the truth that authentication is changing into an more and more essential Cybersecurity IoT consideration. WISeKey, listed on the SIX Swiss Exchange, is headquartered in Geneva (Switzerland) and has a second operational hub within the U.S.
This communication expressly or implicitly accommodates sure forward-looking statements regarding WISeKey International Holding Ltd and its enterprise. Such statements contain sure identified and unknown dangers, uncertainties and different components, which might trigger the precise outcomes, monetary situation, efficiency or achievements of WISeKey International Holding Ltd to be materially totally different from any future outcomes, efficiency or achievements expressed or implied by such forward-looking statements. WISeKey International Holding Ltd is offering this communication as of this date and doesn’t undertake to replace any forward-looking statements contained herein on account of new data, future occasions or in any other case.
This press launch doesn’t represent a proposal to promote, or a solicitation of a proposal to purchase, any securities, and it doesn’t represent an providing prospectus inside the which means of article 652a or article 1156 of the Swiss Code of Obligations or a list prospectus inside the which means of the itemizing guidelines of the SIX Swiss Exchange. Investors should depend on their very own analysis of WISeKey and its securities, together with the deserves and dangers concerned. Nothing contained herein is, or shall be relied on as, a promise or illustration as to the long run efficiency of WISeKey.