Core Viewpoint - SEALSQ Corp, a subsidiary of WISeKey International Holding Ltd, has received final approval from the French Ministry of the Economy for the acquisition of IC'ALPS, enhancing its capabilities in the semiconductor sector and expanding its workforce in France [1][2]. Acquisition Details - The acquisition of IC'ALPS was completed for a total fixed purchase price of EUR 12.5 million, with an additional earn-out payment of up to EUR 4 million contingent on revenue targets [3]. - Approximately 90 employees from IC'ALPS have joined SEALSQ, increasing the total staff in France to over 150 [2]. Financial Performance of IC'ALPS - For the year ended December 31, 2024, IC'ALPS reported revenue of EUR 9,756,000 and a net loss of EUR 2,016,000, while in 2023, it had revenue of EUR 8,465,000 and net income of EUR 318,000 [5]. - SEALSQ will prepare audited financial statements for IC'ALPS under US GAAP, which may differ materially from the preliminary figures provided [5]. Business Continuity and Expertise - IC'ALPS will continue to provide bespoke ASIC design services, maintaining its established certifications in medical, aerospace, and automotive applications [6]. - The company has partnerships with leading silicon foundries, enhancing its reputation as a reliable design partner [6]. Strategic Vision & Product Innovation - The acquisition aims to leverage SEALSQ's expertise in quantum-resistant chip technology and IC'ALPS' capabilities in ASIC design, creating a synergy for developing secure, tailor-made ASICs [7]. - SEALSQ plans to offer an end-to-end EU sovereign Secure ASIC solution, integrating advanced security IP with IC'ALPS' design capabilities [7]. Key Developments - A significant outcome of this collaboration is the development of SEALSQ's QVault TPM, expected to launch initial samples in Q1 2026 [8]. - The QVault TPM will exemplify the integration of advanced security IP and ASIC design, providing protection for digital identities and connected devices [9]. Market Context - The acquisition addresses the growing demand for secure, high-performance ASICs in a projected $36.8 billion market by 2032, where quantum threats are a rising concern [11]. - ASICs with integrated security are positioned to offer unmatched performance and energy efficiency while addressing vulnerabilities to quantum computing attacks [13]. Strategic Quantum Corridor - SEALSQ's operational headquarters in Aix-en-Provence is set to become a "Quantum Corridor," focusing on post-quantum semiconductors and identity-focused microchips [14].

Core Viewpoint - SEALSQ Corp, a subsidiary of WISeKey International Holding Ltd, has received final approval from the French Ministry of the Economy for the acquisition of IC'ALPS, enhancing its capabilities in the semiconductor sector and expanding its workforce in France [1][2]. Acquisition Details - The acquisition of IC'ALPS was completed for a total fixed purchase price of EUR 12.5 million, with an additional earn-out payment of up to EUR 4 million contingent on revenue targets [3]. - Approximately 90 employees from IC'ALPS have joined SEALSQ, increasing the total staff in France to over 150 [2]. Financial Performance of IC'ALPS - For the year ended December 31, 2024, IC'ALPS reported revenue of EUR 9,756,000 and a net loss of EUR 2,016,000, while in 2023, it had revenue of EUR 8,465,000 and net income of EUR 318,000 [5]. - The financial statements of IC'ALPS will be prepared under US GAAP, which may lead to significant differences from the preliminary figures [6]. Business Continuity and Expertise - IC'ALPS will continue to provide bespoke ASIC design services, maintaining its established certifications in medical, aerospace, and automotive applications [7]. - The company has partnerships with leading silicon foundries, enhancing its reputation as a reliable design partner [7]. Strategic Vision & Product Innovation - The acquisition aims to leverage SEALSQ's expertise in quantum-resistant chip technology alongside IC'ALPS' capabilities in ASIC design, creating a synergy for developing secure, tailor-made ASICs [8]. - SEALSQ plans to offer an end-to-end EU sovereign Secure ASIC solution, integrating advanced security IP with IC'ALPS' design capabilities [8]. Key Developments - A significant outcome of this collaboration is the development of SEALSQ's QVault TPM, expected to launch initial samples in Q1 2026 [9][10]. - The integration of SEALSQ's security IPs into ASIC designs will enhance security for high-stakes industries, including healthcare and automotive [11]. Market Context - The demand for secure, high-performance ASICs is growing in a projected $36.8 billion market by 2032, driven by concerns over quantum threats and traditional vulnerabilities [12]. - ASICs with integrated security are positioned to provide unmatched performance and energy efficiency while addressing vulnerabilities to quantum computing attacks [14]. Strategic Quantum Corridor - SEALSQ's operational headquarters in Aix-en-Provence is set to become a "Quantum Corridor," focusing on post-quantum semiconductors and identity-focused microchips [15].

Core Viewpoint - SEALSQ Corp, a member of the WISeKey Group, has signed a Share Purchase Agreement to acquire 100% of IC'ALPS, a specialist in ASIC design and supply, indicating a strategic move to enhance its capabilities in semiconductor and post-quantum technology solutions [1][2]. Group 1: Acquisition Details - The acquisition of IC'ALPS is the result of exclusive negotiations that began on February 27, 2025, and is now subject to regulatory approval from the French Ministry of the Economy [2]. - The transaction is expected to be completed in the third quarter of 2025, pending the satisfaction of closing conditions [3]. Group 2: About IC'ALPS - IC'ALPS is based in Grenoble, France, and specializes in Application Specific Integrated Circuits (ASIC) and Systems on Chip (SoC) development, offering a complete service from circuit specification to production supply chain management [4]. - The company employs over 100 engineers with expertise in various circuit technologies, including analog, digital, and mixed-signal circuits, and operates with multiple foundries [4]. Group 3: About SEALSQ - SEALSQ is recognized for its innovations in Post-Quantum Technology, focusing on hardware and software solutions that integrate semiconductors and Public Key Infrastructure (PKI) [5][6]. - The company aims to address security challenges posed by quantum computing by developing quantum-resistant cryptography and semiconductors for various applications, including healthcare, automotive, and industrial systems [6]. Group 4: About WISeKey - WISeKey International Holding Ltd is a global leader in cybersecurity, digital identity, and IoT solutions, operating through several subsidiaries, including SEALSQ [9][10]. - The company has deployed over 1.6 billion microchips across various IoT sectors, playing a crucial role in securing the Internet of Everything [10].

Core Viewpoint - SEALSQ Corp has signed a Share Purchase Agreement to acquire 100% of IC'ALPS SAS, enhancing its capabilities in ASIC development to meet growing sector demand [2][4]. Company Overview - SEALSQ Corp specializes in semiconductors, PKI, and Post-Quantum technology solutions, focusing on quantum-resistant cryptography to address security challenges posed by advancing quantum computing [7][8]. - IC'ALPS SAS is an ASIC design and supply specialist based in France, providing a comprehensive range of services from circuit specification to production supply chain management [6]. Acquisition Details - The acquisition of IC'ALPS is expected to add approximately 100 skilled employees and is anticipated to be completed in the third quarter of 2025, pending regulatory approval [4][5]. - The SPA follows a period of exclusive negotiations that began on February 27, 2025, with the main terms remaining applicable as announced on May 22, 2025 [3]. Strategic Implications - This acquisition is aimed at reinforcing SEALSQ's commitment to ASIC development, which is crucial for meeting the increasing demand in various sectors including medical, industrial, automotive, and IoT [4][6]. - IC'ALPS has expertise in analog, digital, and mixed-signal circuits, which will complement SEALSQ's existing capabilities in semiconductor technology [6].

Core Viewpoint - SEALSQ Corp is in exclusive negotiations to acquire 100% of IC'ALPS SAS, a specialist in ASIC design and supply, to enhance its capabilities in semiconductor technology and meet growing sector demand [1][2]. Group 1: Acquisition Details - The acquisition is based on a Letter of Intent and is subject to a Share Purchase Agreement and closing conditions [2]. - The fixed purchase price for IC'ALPS is EUR 12.5 million, consisting of EUR 10 million in cash and EUR 2.5 million in SEALSQ shares, with an earn-out payment of up to EUR 4 million based on revenue performance [6]. - The acquisition is expected to add approximately 100 skilled employees from IC'ALPS' centers in Grenoble and Toulouse [2]. Group 2: Financial Performance of IC'ALPS - For the year ended December 31, 2024, IC'ALPS reported draft unaudited revenue of EUR 9.756 million and a net loss of EUR 2.016 million, compared to audited revenue of EUR 8.465 million and a net income of EUR 318,000 for 2023 [3]. - Excluding sales to SEALSQ, the net loss for 2024 would increase to EUR 2.631 million, while the net income for 2023 would turn into a net loss of EUR 850,000 [4]. - Material adjustments are anticipated upon converting IC'ALPS' financials from French GAAP to US GAAP, affecting net sales, operating expenses, and balance sheet items [5]. Group 3: About IC'ALPS - IC'ALPS specializes in ASIC and SoC development, providing a comprehensive service from circuit specification to production supply chain management [7]. - The company employs over 100 engineers with expertise in various circuit technologies and serves multiple sectors including medical, industrial, automotive, and IoT [7]. - IC'ALPS holds several certifications and partnerships, enhancing its credibility and operational capabilities in the semiconductor industry [7]. Group 4: About SEALSQ - SEALSQ is focused on Post-Quantum Technology, integrating semiconductors and PKI to address security challenges posed by quantum computing [8][9]. - The company is developing Post-Quantum Semiconductors designed to protect sensitive data across various applications, ensuring resilience against quantum threats [9].

Core Viewpoint - WISeKey International Holding Ltd is in exclusive negotiations to acquire 100% of IC'ALPS, a specialist in ASIC design and supply, to enhance its semiconductor capabilities and meet growing sector demand [1][2]. Acquisition Details - The acquisition is based on a Letter of Intent and is subject to a Share Purchase Agreement and closing conditions [2]. - The fixed purchase price is set at EUR 12.5 million, consisting of EUR 10 million in cash and EUR 2.5 million in SEALSQ shares, with an additional earn-out payment of up to EUR 4 million based on IC'ALPS achieving revenue over EUR 11 million in 2025 [6]. Financial Performance of IC'ALPS - For the year ended December 31, 2024, IC'ALPS reported draft unaudited revenue of EUR 9.756 million and a net loss of EUR 2.016 million, compared to revenue of EUR 8.465 million and a net income of EUR 318,000 in 2023 [3]. - Excluding sales to SEALSQ, the net loss for 2024 would increase to EUR 2.631 million, while the net income for 2023 would turn into a net loss of EUR 850,000 [4]. Strategic Importance - The acquisition is expected to add approximately 100 skilled employees from IC'ALPS, enhancing SEALSQ's capabilities in ASIC development [2]. - IC'ALPS operates in various sectors including medical, industrial, automotive, IoT, and digital identity, which aligns with SEALSQ's focus on post-quantum technology [8][10].