Wisekey sells majority stake in start-up Arago
Janina Gerhardt
| 26.04.2022
The company plans to sell its 51 percent stake in the German AI startup.
Cybersecurity company Wisekey is selling its majority stake in German startup Arago to the investment company of Arago founder Hans-Christian Boos. Wisekey will receive €25.5 million for its stake, which the company says is more than five times the original purchase price.
"Having established a good technical integration of the assets, the challenges and investments required to keep Wisekey and Arago operating under one roof did not justify the increased effort, nor did they allow us to fully realize the valuation potential of both companies," Wisekey CEO Carlos Moreira said of the stake sale.
The reason for the separation, he said, is the different business approaches and go-to-market strategies. At the same time, both companies intend to continue a strategic partnership in the field of AI and IoT applications. The ongoing cooperation is intended to ensure that both companies can leverage each other's technology for their businesses.
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