SEALSQ Corp in talks to acquire French ASIC specialist IC ALPS

GENEVA – SEALSQ Corp (NASDAQ: LAES), a prominent player in semiconductor, PKI, and post-quantum technology solutions, has announced it is in exclusive negotiations to acquire IC ALPS SAS, an ASIC design firm based in Grenoble, France. The company’s stock, currently trading at $3.24, has shown significant volatility with a remarkable 297% surge over the past six months, according to InvestingPro data. The acquisition, subject to due diligence, definitive agreements, and French regulatory approval, aims to bolster SEALSQ’s ASIC development capabilities and add 100 skilled employees from IC ALPS’s Grenoble and Toulouse centers.

The move is a strategic expansion for SEALSQ, following its 2024 initiative to leverage its QS7001 quantum-resistant hardware architecture for the ASIC market. IC ALPS has been a design partner in SEALSQ’s quantum-resistant platform and is seen as a natural fit to support the company’s ASIC strategy. With a current market capitalization of $328 million and a healthy current ratio of 3.58, SEALSQ appears well-positioned to execute this acquisition strategy.

SEALSQ’s acquisition of IC ALPS is expected to expedite development timelines, increase scalability, and enhance product offerings with cutting-edge technologies, extending the company’s reach into new market segments. The merger is anticipated to position SEALSQ as a significant entity in the security IC industry in both European and global markets.

Lucille Engels, COO of IC ALPS, highlighted the merger’s potential for growth in the security field, particularly for connected products. Jean-Luc Triouleyre, CEO of IC ALPS, emphasized the benefits of combining their design expertise with SEALSQ’s capabilities to create a powerhouse in the post-quantum ASIC industry.

SEALSQ’s CEO, Carlos Moreira, expressed confidence that the acquisition would lead the market in post-quantum security solutions and quantum ASIC development. Bernard Vian, MD of SEALSQ, noted the importance of this consolidation for maintaining global competitiveness in the semiconductor industry.

The proposed acquisition comes at a time when the global ASIC market is projected to grow significantly, driven by demand in telecommunications, automotive, consumer electronics, and other sectors. The integration of quantum-resistant cryptographic algorithms is becoming increasingly critical for digital systems’ security against quantum computing threats. While SEALSQ’s revenue stands at $20.14 million for the last twelve months, InvestingPro analysis suggests the stock is currently trading above its Fair Value, with 12 additional exclusive insights available to subscribers, including detailed growth projections and financial health indicators.

This article is based on a press release statement from SEALSQ Corp.

In other recent news, SEALSQ Corp has announced its intent to acquire IC ALPS SAS, a French ASIC design company. This acquisition, still under negotiation, aims to strengthen SEALSQ’s position in the ASIC development sector, particularly in the medical and automotive industries. Additionally, SEALSQ has implemented its Post-Quantum Cryptography (PQC) across data centers in Switzerland and France, enhancing security against quantum threats. The company’s PQC solutions include Quantum Key Distribution (QKD) and are part of a broader strategy to advance cybersecurity innovations. SEALSQ is also focusing on secure drone technology, collaborating with AgEagle to integrate secure microcontrollers in drones used for Intelligence, Surveillance, and Reconnaissance missions. Furthermore, SEALSQ is developing Quantum RootCA, a quantum-resistant cybersecurity solution, in collaboration with the OISTE.ORG Foundation. This solution is expected to launch in Q1 2025 and aims to protect digital identities and communications from quantum computing threats. These developments reflect SEALSQ’s commitment to advancing post-quantum security solutions across various industries.

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