WISeKey Strengthens its North American Footprint by Signing a Partnership Agreement with Rep One, a Leading Sales Representative Organization in the Southeast
Rhea-AI Summary
WISeKey has announced a partnership with Rep One, a prominent sales representative organization based in Huntsville, Alabama, aimed at enhancing its market presence in North America. The agreement focuses on accelerating the business expansion of WISeKey's subsidiary, SEALSQ Corp., particularly in the Southeast U.S. through Rep One's established customer base. This collaboration will leverage Rep One's expertise in semiconductors to promote WISeKey's security offerings, which have seen increasing demand. WISeKey believes this partnership will build a strong foundation for growth, supported by its existing North American sales team.
Positive
- Partnership with Rep One enhances market presence in North America.
- Access to Rep One's established customer base in six Southeast states.
- Growing demand for WISeKey's security semiconductors and identity management services.
Negative
- None.
News Market Reaction – WKEY
In the trading session that priced this news, WKEY gained 1.49%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
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WISeKey Strengthens its North American Footprint by Signing a Partnership Agreement with Rep One, a Leading Sales Representative Organization in the Southeast
Geneva, Switzerland – February 17, 2023: WISeKey International Holding Ltd. (“WISeKey”) (SIX: WIHN, NASDAQ: WKEY), a leading global cybersecurity, AI and IoT company, announced today the signing of a new sales representative agreement with Rep One Associates Inc. (“Rep One”), a leading sales representative organization based in Huntsville, Alabama. This agreement will help accelerate the business expansion in North America of WISeKey’s subsidiary SEALSQ Corp. (formerly known as WISeKey Semiconductors).
Rep One will bring WISeKey’s unique security value proposition to its large existing customer base, which includes leading suppliers in different market segments. Also Rep One’s longstanding experience and technical expertise in the semiconductors market, will be beneficial in offering WISeKey’s semiconductors, PKI and Trust Services portfolio to potential customers, especially those in need of a complete suite of security offering.
Long established in the Southeast, Rep One services a broad range of customers and applications. Rep One’s team has extensive knowledge in all aspects of embedded computing where they help deliver the optimal compute engine, interface, storage, and network connectivity for customers’ product requirements. Consumer electronics, automotive, military, telecommunications, medical and lighting are among the applications where Rep One has successful designs in production.
Rep One teams will be supported by WISeKey’s existing North American sales team and particularly by Renae Rae, Director of Sales for the region, who has over 20 years of senior level business experience, specifically in the semiconductor, IoT, connectivity, and integration field.
David Khalifa, WISeKey Semiconductors VP of Global Sales said, “As we continue to expand our footprint and market penetration in North America, we are delighted to have signed another partnership designed to address the very strong market demand we are witnessing for our security semiconductors and Identity Management businesses. The agreement with Rep One covers seven states in the Southeast region. We believe that we have the strong foundation and the right structure to successfully expand our footprint in North America.”
Rep One’s President, Ty Daniel, commented on the partnership, “Rep One is excited to partner with WISeKey in the Southeast. We are seven state representatives, with strong relationships with our customers and distributors. Our team looks forward to growing WISeKey sales and to bring their complete security offering to both new and existing customers.”
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 1.5 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.
Press and investor contacts:
| WISeKey International Holding Ltd Company Contact: Carlos Moreira Chairman & CEO Tel: +41 22 594 3000 info@wisekey.com | WISeKey Investor Relations (US) Contact: Lena Cati The Equity Group Inc. Tel: +1 212 836-9611 lcati@equityny.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.
