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WISeKey (WIHN.SW) Protects IriTech's World Leading Biometric Technology with its VaultIC Cryptographic Module

The VaultIC proven digital security is the solution when valuable intellectual property is jeopardized by large scale deployments

 

Geneva, Switzerland, Fairfax, VA, USA - December 13, 2017 (Investorideas.com Newswire) WISeKey International Holding Ltd (WIHN.SW) ("WISeKey"), a Swiss based cybersecurity and IoT company today announced that its VaultIC security module has been selected by IriTech, a leading iris-based identity management solution provider, to protect its award-winning biometric algorithms and software while the company is involved in large government identification programs, including in India.

The 2017 update to the American Intellectual Property (IP) Commission Report estimates that the value of software pirated in 2015 alone exceeded $52 billion worldwide. For Iritech, which develops leading iris recognition technologies mainly used in government applications, the theft of intellectual property ("IP") is even greater than the financial risk. It is a matter of national security.

IriTech heads the iris recognition aspects of the Indian AADHAAR ID program, deploying its US National Institute of Standards and Technology (NIST) proven iris algorithms in its IriShield camera, IriMagic device and Software Development Kit (SDK) series. AADHAAR is by far the largest biometric project in history with 1.2 billion registered residents. For this program, IriTech has received the Standardization Testing and Quality Certification (STQC) from the Indian Government for 'enrollment', 'authentication', and mobile devices. IriTech is the first and only to achieve all STQC categories for iris recognition.

Such valuable IP has to be protected against theft and piracy for commercial and state security reasons. WISeKey's VaultIC family of secure elements comes with a complete firmware dedicated to IP protection. This firmware uses a variety of cryptographic mechanisms such as digital signature generation and verification to provide a number of data protection and authentication functions. The VaultIC hardware includes a non-volatile and firewalled data storage space for keys and other sensitive data. VaultIC's security features and tamper resistant capability offers the best combination to protect organizations and their valuable IP.

"We are delighted that our VaultIC security solution has been chosen by IriTech to protect its premium iris recognition technology in harsh and exposed conditions," said Olivier Debelleix, Director of Brand Protection & Wearable Security Business Unit for WISeKey. "WISeKey's expertise, developed during more than 25 years in government and banking applications, is instrumental to offer the best hardware/software digital security combination to defend the most sensitive assets against growing cyber threats."

"Iris recognition brings governments an incomparable option for stronger security, higher usability and non-intrusive cross-cultural acceptance," said Daniel Kim, CEO for IriTech. "This performance requires trustworthy technology. WISeKey's VaultIC was an obvious choice to help us protect our many years of investments in R&D and to provide our solutions with a governmental grade security level."

About WISeKey:

WISeKey (SIX Swiss Exchange: WIHN) is a leading global cybersecurity company currently deploying large scale digital identity ecosystems with a patented process. WISeKey's Swiss based cryptographic Root of Trust ("RoT") provides secure authentication and identification, in both physical and virtual environments, for the Internet of Things, Blockchain and Artificial Intelligence. The WISeKey RoT serves as a common trust anchor to ensure the integrity of online transactions among objects and between objects and people. For more information, visit www.wisekey.com.

To receive WISeKey's latest news, subscribe to our Newsletter or visit the WISeKey Investors Corner.

About IriTech:

Since its establishment in 2000, IriTech, Inc. has been focusing on developing the most advanced iris recognition technology and products. Its iris matching algorithm was top ranked by NIST's IREX test and widely used by several US government agencies. IriTech is the only vendor achieving all three STQC certifications on iris cameras for enrollment, authentication, and mobile devices for the Indian government's UIDAI project-an ambitious plan to issue biometric ID cards to 1.2 billion residents. Those cameras have also been used by UNHCR, UN WFP, US Army, and many other customers globally.

For more information, please visit www.iritech.com.

Press and investor contacts:

WISeKey International Holding Ltd
Company Contact: Carlos Moreira
Chairman & CEO
Tel: +41 22 594 3000
info@wisekey.com WISeKey Investor Relations (US)
Contact: Lena Cati
The Equity Group Inc.
Tel: +1 212 836-9611
lcati@equityny.com

IriTech, Inc
Company Contact: Daniel Kim
CEO
Tel: +1 703 877 2135
info@iritech.com


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