Bullish indicating open at $55-$60, IPO prices at $37
GENEVA - WISeKey International Holding Ltd. (SIX: WIHN, NASDAQ: WKEY), known for its cybersecurity and IoT solutions, has announced a strategic alliance with Global Radio Systems through its subsidiary WISeSAT.Space. This collaboration aims to enhance cyber-secure radio communications connectivity, particularly in critical environments such as emergencies, security, and defense sectors.
Global Radio Systems, a Spain-based company with operations across 15 countries, specializes in secured professional radio communication services. The new alliance was unveiled at the APBA Journey of Innovation event, highlighting the integration of WISeKey's advanced technologies with Global Radio Systems' services to improve safety and efficiency for essential services like armed forces and police.
The partnership will leverage WISeSAT's low-orbit satellite constellation to ensure robust connectivity, even in challenging environments. This is expected to provide essential support for real-time decision-making in emergency, security, and defense operations.
Pedro Roldán, CEO of Global Radio Systems, emphasized the commitment to innovation in secure radio communications. Carlos Moreno, VP Corporate Alliances & Partnerships of WISeSAT.Space, expressed excitement about developing technologies that revolutionize the market and serve those reliant on secure communications.
WISeSAT.Space pioneers IoT connectivity and climate change monitoring through its satellite constellation, offering cost-effective and secure global IoT connectivity. WISeKey, the parent company, operates through several subsidiaries focusing on various aspects of its technology portfolio, including semiconductors, PKI, post-quantum technology products, secure satellite communication for IoT, and blockchain NFTs.
Global Radio System, with over 25 years of experience in the communications field, caters to a range of clients including ministries of defense, police, private security companies, and firefighters.
This strategic alliance is based on a press release statement and presents a significant development in the field of secure radio communications, potentially impacting the way critical services operate in extreme conditions.
"In other recent news, WISeKey International Holding Ltd announced the creation of a Special Purpose Vehicle (SPV), SEALCOIN AG, as part of its ongoing decentralized technology project, SEALCOIN. The incorporation of this subsidiary, which will focus on the Transaction-IoT market, is expected to be completed in early July 2024 in collaboration with The Hashgraph Association. The Hashgraph Association will also become a strategic investor in this endeavor.
The SEALCOIN project, initially a proof of concept at WISeKey’s semiconductor arm, SEALSQ Corp, will utilize WISeKey’s expertise in cybersecurity. Carlos Moreira, CEO of WISeKey, expressed anticipation for the launch of the SEALCOIN platform and tokens, highlighting the potential benefits from SEALSQ’s semiconductor knowledge and WISeKey’s cybersecurity experience.
Furthermore, the partnership with The Hashgraph Association is projected to integrate SEALCOIN’s advanced decentralized solutions with Hedera's leading Distributed Ledger Technology (DLT) infrastructure. This alliance aims to create a robust Decentralized Physical Infrastructure Networks (DEPIN) ecosystem, potentially revolutionizing the IoT landscape.
Lastly, SEALCOIN AG will comply with the guidelines set by the Swiss Financial Market Supervisory Authority (FINMA) and the rollout of the SEALCOIN platform and tokens is dependent on the completion of necessary regulatory processes."
InvestingPro Insights
WISeKey International Holding Ltd. (WIHN) has been making strides in the cybersecurity and IoT sectors with its recent strategic alliance, but what does the financial data say about the company's current position? According to InvestingPro data, WISeKey holds a market capitalization of $15.19 million and a Price / Book multiple of 0.54 as of the last twelve months leading up to Q4 2023. These figures suggest that the company is trading at a low valuation relative to its book value, which could be of interest to value investors.
On the operational front, WISeKey has experienced a significant revenue growth of nearly 29.83% in the last twelve months as of Q4 2023, indicating a robust expansion in its business activities. However, it's important to note that analysts are anticipating a sales decline in the current year, which could reflect on the company's future revenue streams. This is a critical factor for potential investors to consider when evaluating the sustainability of WISeKey's growth.
InvestingPro Tips highlight that WISeKey is quickly burning through cash and analysts do not expect the company to be profitable this year. These insights shed light on the financial challenges the company may face, despite its strategic moves in the market. For those interested in a deeper dive into the company's financial health, InvestingPro offers additional tips, with a total of 12 listed for WISeKey, providing a comprehensive analysis that could guide investment decisions.
The data and insights provided here are just a glimpse into the detailed analysis available on InvestingPro, where subscribers can access a wealth of information to make informed investment choices.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.