WISeKey Strengthens Smart Card Reader Chips Business and Renews Agreement with US Leader Identiv

Rhea-AI Summary

WISeKey International Holding Ltd (Nasdaq: WKEY) is renewing and expanding its partnership with Identiv (Nasdaq: INVE) to supply over $1 million in smart card reader chips in 2022. The collaboration focuses on contact, contactless, and dual-interface smart card readers, targeting sectors such as healthcare and government. The smart card market is projected to grow from $13.9 billion in 2021 to $16.9 billion by 2026. WISeKey's advanced chip technology strengthens security and access management, meeting rising demands in digital identity verification.

Positive

• Renewed partnership with Identiv for over $1 million in smart card reader chips.
• Target sectors include healthcare, pharmaceuticals, government, and education.
• Increased demand for smart card solutions projected, with the market expected to reach $16.9 billion by 2026.

Negative

• None.

WISeKey Strengthens Smart Card Reader Chips Business and Renews Agreement with US Leader Identiv

Geneva, Switzerland –March 28, 2022: WISeKey International Holding Ltd (“WISeKey,” SIX: WIHN / Nasdaq: WKEY), a leading global Semi-Conductor, Blockchain and IoT company, announced today that it is renewing and expanding its business in smart card readers with Identiv (Nasdaq: INVE), the US leading player in identity and access control. In 2022, WISeKey will be supplying Identiv with high-end smart card reader chips for over $1 Million value. The partnership extends to Identiv’s contact, contactless, and dual-interface smart card readers, targeting applications in healthcare, pharmaceuticals, government, and education. Public and private organizations use Identiv’s identity verification devices when seeking the highest security and performance in access management.

“Properly implemented smart cards in all sectors have proven highly effective in reducing fraud and securing infrastructures and services. The growing security concerns, particularly within the public sphere, are propelling the growth of smart card readers market. WISeKey is well positioned to respond to this surging demand with its range of reader chips,” said Bernard Vian, General Manager for WISeKey Semiconductors. “We are thrilled and honored of the renewed confidence by our long-term partner Identiv that rewards our commitment to provide high quality services and products to our clients.”

WISeKey chip technology is built into a selection of Identiv’s contact, contactless, and dual-interface smart card reader/writer product portfolio. The latest offering is uTrust 3700 IG, an IP-rated, industrial-grade contactless and near field communication (NFC) smart card reader created for industrial facilities, clean room environments, and the healthcare space. The reader simplifies complex logins, protects valuable time, and strengthens data security.

“We have seen tremendous growth in identification and verification technology in healthcare, pharmaceuticals, government, and education over the past year, and we expect the demand to continue to grow,” said Manfred Mueller, Identiv COO and GM Identity. “Collaborating with chip manufacturers like WISeKey allows us to make the strongest data security more convenient for the industries that need it most, especially in the healthcare segment. Our technology lets clinicians focus their time and attention on patients, not complex logins.”

Identiv's smart card reader and logical access control technology identifies and verifies users to safely and securely access data. Multi-factor authentication and passwordless experiences provide the strongest cybersecurity, while remote authentication, multi-factor authentication, and embedded application solutions protect data on-the-go, in the office, or at home.

According to Market & Markets, the smart card market is projected to reach $16.9 billion by 2026 from $13.9 billion in 2021 with 75% of the value generated by cards and readers. The robust financial system that is being increasingly digitized and government agencies incorporating smart chip-based systems for better monitoring of processes are propelling several countries to adopt smart card solutions, specifically in the transportation, BFSI, retail, government, and healthcare sectors. In addition to information security, smart card-based systems ensure greater security of services and equipment by restricting access to only authorized users. Thus, the security and access control segments are projected to grow at the highest CAGR of the smart card market.

Powered by more than 20 years of design and research experience in secure products for the smart card industry (including banking), WISeKey’s comprehensive and highly competitive portfolio of Smart Card Reader chips enables customers to obtain secure, high-performance chips for virtually any market segment from a single vendor. WISeKey and its ecosystem of partners offers hardware platforms alone and with integrated third-party applications, allowing customers to quickly build smart card readers without requiring custom development. Based on 8/16-bit RISC processors, WISeKey’s Smart Card Reader chips are EMV-CO compliant and equipped with DC/DC for a wide compatibility. WISeKey products are recognized today by industry leading OEMs, such as Identiv, that leverage these chips’ unique capabilities to combine outstanding product performance with fast time to market.

To learn more about WISeKey’s Card readers and security solutions, visit
https://www.wisekey.com/products-services/secure-semiconductors/smart-card-readers/

Press and investor contacts:

WISeKey:

Carlos Moreira         WISeKey Investor Relations (US)
Chairman & CEO         Lena Cati
info@wisekey.com         lcati@equityny.com
Tel. +41 22 594 3000         Tel. +1 212 836-9611

About WISeKey
WISeKey (NASDAQ: WKEY; 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 microprocessors secure the pervasive computing shaping today’s Internet of Everything. WISeKey IoT has an install base of over 1.6 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 produce 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 is 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.

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.