WISeKey (WKEY) announced that its subsidiary, Sealsq, received final approval from the French Ministry of the Economy, Finance and Industrial and Digital Sovereignty and completed the acquisition of 100% of the share capital and voting rights of IC’ALPS SAS from its current shareholders. As a result of the acquisition, approximately 90 employees from IC’ALPS have joined Sealsq, bringing the company’s total staff in France to over 150 people. The acquisition was for a total fixed purchase price of EUR 12.5M, payable in a combination of cash and Sealsq shares, with a further earn-out payment of up to EUR 4M payable in Sealsq shares, subject to IC’ALPS achieving certain revenue targets for the twelve months ending December 31, 2025.
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