Benzinga | Mar 24, 2021 06:35AM EDT

WISeKey Forges Automotive Digital Security Partnership With Cortus

* Cybersecurity, Artificial Intelligence (AI), and Internet of Things (IoT) company WISeKey International Holding Ltd (NASDAQ: WKEY) and custom Systems-on-Chip (SoC) design services and IP core provider, Cortus SAS, partnered to deliver end-to-end digital security to the automotive industry.

* This collaboration would expand to other related areas, including IoT, AI, and High-Performance Computing (HPC).

* The global autonomous vehicle market was expected to expand at a 63.1% CAGR from 2021 to 2030 to reach 4,223.8 thousand units by 2030.

* WISeKey and Cortus were combining their expertise to offer unmatched security solutions to carmakers and parts manufacturers.

* The combination of WISeKey's software and hardware digital security with Cortus' SoC expertise was a perfect fit to address the new demanding cybersecurity requirements of the automotive industry as per Cortus CEO Michael Chapman.

* Price action: WKEY shares traded higher by 5.38% at $10.77 in the premarket session on the last check Wednesday.