WISeKey's Subsidiary Completes Acquisition of IC'ALPS for EUR 12.5M

WISeKey's subsidiary, Sealsq, has completed the acquisition of IC'ALPS SAS for a total fixed purchase price of EUR 12.5M, with a further earn-out payment of up to EUR 4M payable in Sealsq shares, subject to IC'ALPS achieving certain revenue targets. Approximately 90 employees from IC'ALPS have joined Sealsq, bringing the company's total staff in France to over 150 people.

Geneva, Switzerland – July 2, 2025 – WISeKey International Holding Ltd (NASDAQ: WKEY / SIX: WIHN), a global leader in cybersecurity, digital identity, and IoT technologies, has announced that its subsidiary, SEALSQ Corp (SEALSQ), has successfully completed the acquisition of IC’ALPS SAS. The acquisition was approved by the French Ministry of the Economy, Finance and Industrial and Digital Sovereignty [1].

The total fixed purchase price for the acquisition is EUR 12.5 million, with an additional earn-out payment of up to EUR 4 million in SEALSQ shares, contingent on IC’ALPS achieving certain revenue targets for the twelve months ending December 31, 2025 [1]. The acquisition includes 100% of the share capital and voting rights of IC’ALPS, and approximately 90 employees from IC’ALPS have joined SEALSQ, increasing the company's total staff in France to over 150 people [1].

IC’ALPS is a leading developer and provider of semiconductor-based PKI and Post-Quantum hardware/software security solutions. With its expertise in Application-Specific Integrated Circuits (ASIC) design and extensive partnerships with leading silicon foundries, IC’ALPS will continue its core business while integrating with SEALSQ’s advanced security intellectual property (IP) and quantum-resistant cryptographic algorithms [1].

The acquisition aims to create a powerful synergy, combining SEALSQ’s expertise in quantum-resistant chip technology with IC’ALPS’ proven track record in custom intellectual property block (IP) and ASIC design & supply chain management. This collaboration will revolutionize the development of secure, tailor-made ASICs, offering an end-to-end EU sovereign Secure ASIC solution [1].

Key strategic benefits include the development of SEALSQ’s QVault TPM, the first chip to emerge from the integration of SEALSQ and IC’ALPS expertise. This chip is designed to meet stringent security standards such as FIPS 140-3 and CC EAL5+ for mission-critical applications [1].

The acquisition also addresses the growing demand for secure, high-performance ASICs in various industries, including automotive, healthcare, IoT, defense, and AI. The integration of SEALSQ’s quantum-resistant security IPs into IC’ALPS’ ASIC designs will enhance the security pillar of their offerings, safeguarding sensitive data and infrastructure against both quantum and classical threats [1].

SEALSQ’s operational headquarters in Aix-en-Provence, France, is poised to become a “Quantum Corridor,” a hub for developing post-quantum semiconductors and identity-focused microchips. This acquisition strengthens SEALSQ’s ability to deliver EU-sovereign solutions, meeting the growing global demand for secure, quantum-resistant technologies [1].

References
[1] https://www.morningstar.com/news/globe-newswire/1001121341/sealsq-receives-final-approval-from-the-french-ministry-of-the-economy-finance-and-industrial-and-digital-sovereignty-and-completes-acquisition-of-icalps