WiseKey offers up to €16.5m for IC’Alps
Business news
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By
Nick Flaherty
WiseKey in Switzerland is to offer up to €16.5m for the IC’Alps chip design business in Grenoble and Toulouse, France.
A fixed purchase price of €12.5 million includes €10m in cash and €2.5m in shares to one of the sellers. There is an earn-out payment in shares of up to €4m based on IC’ALPS achieving revenue in excess of €11m this year. Last year the company saw revenue of €9.75m with a loss of just over €2m. €615,000 of the revenue was from Wisekey semiconductor subsidiary SealSQ, which would host the 100 staff from IC’Alps after the deal completes.
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The deal to buy IC’Alps still needs to be approved by the French Ministry of the Economy.
www.icalps.com; www.sealsq.com
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