On December 24, 2018, WISeKey International Holding Ltd (SIX: WIHN), a leading Swiss cybersecurity and IoT company, announced that it has executed a definitive agreement with DigiCert, the leading global provider of TLS/SSL, IoT and other PKI solutions, to sell the QuoVadis SSL/TLS, PKI technology business at a purchase price of USD 45 m. The transaction is expected to close in Q1 2019, subject to the satisfaction of customary closing conditions, including applicable regulatory approvals. The transaction is not subject to any financing condition.
Under the terms of the transaction, WISeKey will retain the ISTANA Platform used to secure, among other things, the connected car industry, as part of its offering in the Internet of Things market, together with its latest blockchain technology. Subject to completing the transaction, WISeKey and DigiCert intend to explore a partnership with respect to common opportunities in the Internet of Things market, using their combined products to enhance mutual offerings.
Homburger AG is acting as lead legal counsel to WISeKey. The Homburger team is led by partner David Oser (Corporate | M&A) and includes partner Reto Heuberger (Tax), associates Rafael Zemp, Mario Wälti, Olivier Bühlmann and Miriam Scherer (all Corporate | M&A), Marc Vogelsang (Tax), and junior associates Isabel Guth and Frédéric Fitzi (both Corporate | M&A). Conyers Dill & Pearman is acting as Bermuda law counsel, and Oppenheimer & Co. Inc. is serving as the exclusive financial advisor to WISeKey.