Wisekey International Holding S.A.

WISeKey is a holding company that operates in the Semiconductors segment through its subsidiary, SEALSQ Corp. SEALSQ focuses on the design, verification, and sale of secure microcontrollers and ASICs. It operates a fabless business model, meaning it outsources the actual manufacturing processes, including wafer fabrication, assembly, testing, and packaging, to specialized foundries and OSAT providers. Key suppliers include TSMC, X-FAB, ams-OSRAM, Intel Foundry, and GlobalFoundries. SEALSQ's ability to fulfill customer orders and its revenue potential are dependent on the availability of materials, components, and the production capacity of its suppliers. To enhance supply chain resilience and mitigate risks associated with geopolitical instability and the concentration of semiconductor manufacturing in Southeast Asia, SEALSQ acquired IC'Alps and established preferred partnerships with leading global foundries. These partnerships provide design expertise across various process nodes and CMOS technologies. SEALSQ also plans to invest in regional semiconductor hubs, starting with the Quantix Edge Security facility in Spain, with future facilities planned for the United States and Asia, to reduce geostrategic dependency. SEALSQ competes in a specialized market against semiconductor companies such as NXP, STMicroelectronics, Samsung, Microchip, and Infineon, as well as identity service providers like Thales, Digicert, Keyfactor, HID, and Entrust.