- International cybersecurity, AI, and IoT firm WISeKey Worldwide Holding AG WKEY transferred its 51% stake in German Synthetic Intelligence Platform firm arago GmbH to OGARA GmbH.
- The switch of the shares provides OGARA full management of arago’s operations into the buying consortium and establishes the partnership between WISeKey and arago to work on the rising adoption of AI and IoT convergence as one of many major components driving the expansion of the IoT market.
- In April, WISeKey offered its controlling stake in arago again to a German consortium of buyers led by arago’s founder by means of his funding firm, OGARA GmbH, for €25.5 million.
- The acquisition worth was over 5 instances the preliminary funding made by WISeKey to accumulate its 51% stake.
- Worth Motion: WKEY shares traded greater by 6.69% at $3.03 within the premarket on the final test Tuesday.
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