Swiss cyber security companies Wisekey and OpenLimit have signed an MoU to merge their operations. Under the terms of the deal, OpenLimit would be merged with and into Wisekey, with Wisekey being the surviving entity. The signing of definitive agreements is subject to satisfactory reciprocal confirmatory due diligence, to be conducted over the next month, and other conditions as are customary.
Wisekey has also agreed to provide interim financing to OpenLimit of up to EUR 4.99 million through subscription to an equity-linked instruments issued by OpenLimit. The deal will allow Wisekey to further expand its cybersecurity and IoT platform and gain access to the German and EU IoT market. It will gain access to OpenLimit customers, in particular in Germany and other large and more mature markets in Europe. OpenLimit is based in Baar, Switzerland, and has a subsidiary in Berlin with 65 staff. For the full article click here
from cyber security caucus http://ift.tt/2aq1wqR
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