June 6, 2023 [crocon media – msch] WISeKey International Holding Ltd, a prominent cybersecurity, IoT, and AI company, has made a significant announcement regarding the expansion of its satellite business. The establishment of WISeSat AG, a new special purpose company based in Zug, Switzerland, demonstrates WISeKey’s strategic move to enhance its current service offerings and cater to a broader client base seeking secure satellite communication.
The collaboration between WISeSat AG and FOSSA Systems, a leading aerospace company specializing in picosatellites for Low Earth Orbit (LEO) services, will result in the launch of several new WISeSat-Ready FOSSA powered satellites. These satellites, set to be part of an 80-satellite constellation, aim to provide global and real-time IoT connectivity for industrial applications. The launch is scheduled to be carried out by SpaceX on a Falcon 9 rocket in June 2023.
From a financial perspective, this expansion presents a potential growth opportunity for WISeKey. The low Earth orbit (LEO) satellite industry has seen significant mergers and acquisitions (M&A) activity in recent years due to the increasing demand for high-speed internet connectivity, especially in remote areas. By venturing into the satellite industry, WISeKey positions itself as a global leader in cutting-edge IoT solutions, which could positively impact its market position and revenue streams.
WISeKey’s expansion into the satellite business through WISeSat AG marks a notable milestone in the company’s pursuit of secure and reliable IoT communications. Leveraging a Software-as-a-Service (SaaS) model, WISeSat AG aims to provide innovative IoT satellite technology to clients, enabling them to securely connect their assets, particularly in remote areas. The streamlined SaaS model enhances connectivity needs, catering to industries such as maritime, deserts, mountains, and other underserved geographic regions.
WISeKey’s investment in FOSSA Systems has played a pivotal role in integrating satellite technology into the WISeKey IoT platform. The collaboration with FOSSA Systems to launch WISeSat-Ready FOSSA powered satellites is a testament to their commitment to expanding IoT connectivity. This move aligns with the increasing demand for real-time IoT connectivity and the need for reliable and secure communication channels.
Furthermore, WISeKey’s INeS platform, powered by state-of-the-art cryptographic algorithms, ensures the highest standards for issuing, managing, and validating digital credentials for IoT devices. This scalable platform supports hundreds of millions of devices and sensors, enabling secure data collection and transmission from the field to the backend. The integration of WISeKey’s Trust and Security solutions with WISeSat further enhances the authenticity, confidentiality, and integrity of devices, objects, data, and transactions.
The introduction of WISeSat AG addresses the growing market demand for advanced satellite-based IoT solutions. WISeKey’s proven success in the IoT sector, combined with the expansion into the satellite industry, positions the company to capitalize on the immense potential of the low Earth orbit (LEO) satellite market. With its focus on secure and scalable IoT communications, WISeKey is well-positioned to meet the evolving needs of industries and establish itself as a global leader in the IoT and cybersecurity domain.
About WISeKey: WISeKey is a global cybersecurity company at the forefront of deploying large-scale digital identity ecosystems using Blockchain, AI, and IoT technologies. With an installed base of over 1.6 billion microchips in various IoT sectors, WISeKey provides secure authentication and identification for the Internet of Things, Blockchain, and Artificial Intelligence. Trusted by OISTE/WISeKey’s Swiss-based cryptographic Root of Trust, WISeKey ensures the integrity of online transactions and drives industrial applications with predictive capabilities. Learn more at www.wisekey.com.
Read the press release : https://www.globenewswire.com/news-release/2023/06/06/2682930/0/en/WISeKey-Announces-Expansion-of-Its-Satellite-Business-Into-a-New-Entity-WISeSat-AG-based-in-Zug-Switzerland.html
crocon media is a project of The SiLLC Assembly. This site is for entertainment purposes only. The owner of this site is not an investment advisor, financial planner, nor legal or tax professional and articles here are of an opinion and general nature and should not be relied upon for individual circumstances.
Editorial Disclosure: The editorial content on this page is not provided by any entity mentioned herein. Opinions expressed here are the author’s alone, and have not been reviewed, approved or otherwise endorsed by any of these entities.
Disclaimer: The author(s) of this article may hold a position in the mentioned stock. The information provided in this article should not be considered financial advice, and readers should always do their own research before making investment decisions. However, as with any investment, there are potential risks and uncertainties to consider, such as potential regulatory changes, market volatility, and competition from other players in the industry. It is important for investors to carefully monitor this stock and its performance over time to make informed decisions about their investments.
