SEALSQ Expands Partnership with LEGIC to Provide Key Components for Their Authentication and Access Management Platform
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Insights
The strategic expansion of the partnership between SEALSQ Corp and LEGIC Identsystems represents a significant development within the semiconductor and secure access markets. The demand for advanced security in the realm of access control and IoT is on a steep incline, driven by the increasing prevalence of smart city initiatives and the need for robust cybersecurity measures in the face of evolving threats, such as those posed by quantum computing.
The collaboration leverages SEALSQ's expertise in manufacturing semiconductors with the Common Criteria EAL 5+ certification—a high assurance level indicating that the product has been methodically designed, tested and reviewed to meet specific security standards. This certification is critical for applications that demand stringent security protocols, such as government and military installations, making SEALSQ's products highly relevant for a niche but crucial market segment.
LEGIC's focus on end-to-end security solutions for both online and offline applications taps into the growing market for secure, contactless interactions in various sectors, including corporate environments, supply chain management and smart city infrastructure. The global Access Control market's projected growth, from $10 billion in 2023 to $15 billion by 2028, underscores the potential revenue growth for both companies. By providing key components for LEGIC's security platform, SEALSQ is well-positioned to capitalize on this market expansion.
Investors should note the potential impact of SEALSQ Corp's announcement on its financial performance. The partnership with LEGIC Identsystems not only broadens SEALSQ's market reach but also enhances its competitive edge by being one of the few providers of EAL 5+ certified semiconductor components. This unique selling proposition can lead to increased sales volumes and potentially higher profit margins due to the specialized nature of the products.
Furthermore, the synergy between SEALSQ's secure hardware platforms and LEGIC's access management solutions could result in cost efficiencies and innovation, driving long-term value creation. The market's positive growth trajectory suggests a favorable environment for SEALSQ's business model. However, investors should also consider the capital expenditures associated with the development and production of high-security semiconductors and the risks involved in the rapidly evolving technology landscape.
The significance of the partnership for the cybersecurity landscape cannot be overstated. SEALSQ's Common Criteria EAL 5+ certification indicates a level of security that is imperative for protecting against sophisticated cyber threats, including those that may arise with the advent of quantum computing. As industries and infrastructures become increasingly interconnected through IoT, the importance of secure semiconductor components becomes paramount to prevent unauthorized access and data breaches.
LEGIC's security platform, supported by SEALSQ's semiconductors, addresses a critical need for secure authentication and access management in a variety of applications. This fusion of hardware and software security is a proactive approach to future-proofing against emerging threats and positions the partnership at the forefront of the cybersecurity arms race.
Tortola, British Virgin Islands and Zurich, Switzerland, Feb. 13, 2024 (GLOBE NEWSWIRE) -- 
https://www.sealsq.com/solutions/secure-access
SEALSQ Corp ("SEALSQ" or "Company") (NASDAQ: LAES), a company that focuses on developing and selling Semiconductors, PKI and Post-Quantum technology hardware and software products, and Swiss-based LEGIC Identsystems, a global leader in secure authentication, access management and IoT platform solutions, have announced the expansion of their existing partnership where SEALSQ provides key semiconductor components for the LEGIC Security Platform.
SEALSQ is one of the very few semiconductors manufacturers in the world that offers secure open hardware platforms with a Common Criteria EAL 5+ certification. Such platforms are ideal to host and run secure client applications that offer the highest level of security for authentication and access management applications.
LEGIC’s end-to-end security platform is ideal for enabling applications that require secure, contactless management of the interaction between people and things both on- and offline:
- Access control for buildings, rooms, lockers, furniture and IT equipment such as terminals and printers.
- Applications where many users share high-value resources such as vehicles, machines, office space or IT resources.
- Supply chain security requiring managed and auditable access to containers and vehicles.
- Smart city applications that match parking, public transportation, infrastructure access, tourism and social inclusion services to individual permissions and requirements.
- Closed-loop ePayment applications such as corporate canteen or vending services.
According to Markets & Markets, the global Access Control market valuation alone stands at
Franck Buonanno, VP of Sales commented about this partnership: “SEALSQ is proud to support leading authentication and smart access control platform solution specialist LEGIC to help them achieve the latest level of security and certification compliance with their products, while reducing deployment complexity and time-to-market.”
Christoph Beckenbauer, General Manager at LEGIC commented: “LEGIC’s end-to-end Security Platform depends on best-in-class hardware and software components. With key semiconductors from SEALSQ embedded in our platform, we are confident that our customer’s applications are strongly protected against a wide range of cybersecurity threats.”
Announcement of the expanded partnership was broadcast on Nasdaq Tower on February 7, 2024.
Link to the Nasdaq Tower video can be found here:
https://www.sealsq.com/solutions/secure-access
About LEGIC
For over 30 years, Swiss-based LEGIC Identsystems has enabled companies from around the world to deploy solutions with demanding security requirements. Based on key management, trusted services and secure, contactless semiconductors, the LEGIC Security Platform provides end-to-end security for smartphone- and smartcard-based access, mobility, shared resource and industrial IoT applications. www.legic.com
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, 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 SEALSQ's ability to implement its growth strategies; SEALSQ’s ability to generate revenue from emerging new semiconductors; SEALSQ’s ability to generate revenue from Matter certification and the new cyber trust mark standards; the successful introduction of the WISeSat picosatellite constellation; 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.
Press and investor contacts:
SEALSQ Corp. Carlos Moreira Chairman & CEO Tel: +41 22 594 3000 info@sealsq.com | SEALSQ Investor Relations (US) The Equity Group Inc. Lena Cati Tel: +1 212 836-9611 / lcati@equityny.com Katie Murphy Tel: +212 836-9612 / kmurphy@equityny.com |
LEGIC Identsystems AG
Carl Fenger, Communications Manager
Binzackerstrasse 41, 8620 Wetzikon, Switzerland
Tel +41 44 933 64 64 / Direct +41 44 933 64 37
carl.fenger@legic.com, www.legic.com
FAQ
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