GENEVA, February 14, 2011 /PRNewswire/ -- WISeKey has announced today that it has signed new contracts amounting to CHF 4.0 million in 2011 from its patent-pending anti-counterfeiting technology, WISeAuthentic. Part of WISeKey's Digital Brand Management product line, WISeAuthentic safeguards and verifies the authenticity of luxury goods. This new revenue amounts to over CHF 8 million signed so far with prestigious brands.
WISeKey's latest patent (on the World Intellectual Property Organization patent filings database) demonstrates a potential to reduce counterfeiting definitively and become a major revenue driver for WISeKey, providing a recurrent revenue model for the company with huge upsides. Counterfeiting represents approximately five to seven percent of all world trade and with the luxury brand industries estimated to reach 1.5 trillion dollars (US) this year, these companies need a solution that will prove their goods' authenticity. This fail-safe technology encrypts digital information within the SmartCard's chip, which is currently and for the foreseeable future impossible to replicate, according to analysts, mathematicians and academic experts who participated in the development of WISeKey's technology. WISeAuthentic is also available for use with jewelry, beauty products, haute couture, jet aircraft and automotive parts, luxury goods, pharmaceuticals, software and entertainment.
"As we can see from the increasing revenues generated by this new technology, luxury brands and the anti-counterfeiting industry continue to aggressively pursue the use of our WISeAuthentic technology," said Carlos Moreira, the company's Founder and CEO. "We are pleased to have prestigious brands as significant customers for our proprietary technology and we are looking forward to the continued development and application of our technology in new areas related to the anti-counterfeiting market."
More details: http://www.wiseauthentic.com Contact: Olivia Ward E-Mail: [email protected] Phone: +41-22-594-30-00
SOURCE WISeKey SA