WISeKey Soars On Plans To Launch New WISeSat-Ready FOSSA Powered Satellites With SpaceX

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Shares of WISeKey International Holding AG (WKEY), a cybersecurity, IoT and AI company, are rising more than 30% Friday morning at $3.0199.

The company today said that in cooperation with FOSSA Systems, a provider of dedicated space services and complete IoT solutions, it plans to launch several new WISeSat-Ready FOSSA powered satellites with SpaceX, adding to the 13 FOSSA satellites already in orbit.

These new satellites will be part of the 80-satellite constellation which FOSSA has been planning to deploy since early 2022, aiming to provide global and real-time IoT connectivity for industrial applications with a 10-hour data latency, WISeKey said.

The launch will be carried out by SpaceX no earlier than June 2023.

WKEY has traded in the range of $1.1800 – $4.1800 in the last 52 weeks.

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