WISeKey receives strategic investment from leading Brazilian media group
WISeKey and GJC, Grupo Jaime Câmara, have entered into a Joint Venture Agreement, aiming at the creation of a new company with the name WISeKey Liber expanding WISeKey's global footprint to Latin America and Iberia. The partnership includes a strategic investment by GJC in WISeKey SA representing 5% equity stake.
WISeKey's global expansion in the past few years focused on emerging economies and in particular BRIC economies, with several major wins in these countries that face high growth in cyber security, digital identity and privacy solutions, mobile communications security, secure cloud computing and other WISeKey related technologies.
This new JV will expand existing operations in Latin America and Iberia and shall result in WISeKey becoming one of the fastest growing eSecurity companies in the world. WISeKey and GJC initiative form an alliance between two leading companies whose values and product portfolios bring high quality technology and eSecurity services to consumers in Latin America and around the world. This will also allow the company to provide its solutions through a localized High Security datacenter in the region.
The partnership includes a strategic investment by GJC in WISeKey SA representing 5% equity stake and an option to bring the equity participation to 10% before the IPO of WISeKey.
Carlos Moreira, Founder, Chairman of the Board and CEO of WISeKey said: «The economic outlook for Latin America is very bright and this joint venture enables WISeKey to respond faster to marketplace dynamics. Our company will be in a better position to strategically deploy our technology in the region and to accelerate our growth».
Cristiano Camara, CEO of GJC said, «The joint venture will provide WISeKey with a platform to expand its successfully branded products to the Latin America and Iberia markets in a consolidated approach integrating with local technologies and services and offering the solutions to regional clients. WISeKey's partnership with GJC leverages both firms' strengths and will enable us to expand eSecurity services much faster and more efficiently across the region, substantially increasing revenues and profitability».
WISeKey is one of the fastest growing eSecurity companies in the world, being a leading Swiss information security and identity management software and services company headquartered in Geneva, Switzerland.
Profitable investment in Swiss start-ups
Acquisitions are extremely important for the Swiss start-up scene; they show that investment in young companies is worthwhile and they can help to improve the supply of venture capital. And in the last week we reported about several acquisitions:Yield Pop, Sensima Technology, Sight.IO, and Covagen.