Blockchain, IoT And Cybersecurity Specialist WISeKey Acquires 22% In Tarmin Data Infrastructure Firm
WISeKey Acquires Interest In Data Infrastructure Firm Tarmin
Cybersecurity and blockchain firm WISeKey has completed the acquisition of 22% interest in Tarmin via a multi-million USD transaction as it integrates its secure cloud offering into WISeID.COM.
Almost six months on since signing a binding agreement to acquire a 22% interest in Tarmin, the Swiss-based cybersecurity and the Internet of Things (IoT) company has finally landed it.
Reinforcing Cybersecurity IoT Platform
Every company invests with a reason, and for this, WISeKey has made the strategic investment to allow it to enhance its cybersecurity IoT platform with the help of Tarmin's GridBank Data Management platform.
Indeed, WISeKey is taking the right channel to address the significant challenges which are associated with data storage, management as well as gaining value for the long term.
The Need To Protect Data
Undoubtedly, data volumes are on a constant rise exponentially and hence increasing the costs as well as driving greater regulatory risks. Therefore, WISeKey which focuses on creating digital identity ecosystems which implement blockchain, IoT, and AI technology for individuals as well as smart devices, it has to ensure everything is right.
Majorly, the cooperation between the two firms is meant to increase data storage and management. That being said, WISeKey and Tarmin agreement are reportedly aiming to create a collective development for storage and management dubbed “WISeBox.”
WISeBox is a managed cloud service which will integrate GridBank with the WISeKey's cryptographic tool, PKI architecture, and Root of Trust (RoT).
The primary factor which drives the market growth is the rising adoption of cloud services as well as IT convergence. The cloud adoption is driven by own capabilities of providing an enterprise with an array of resources which can be utilized to scale, support, and orchestrate operations.
Moreover, WISeKey will be utilizing GridBank's search as well as e-discovery capabilities, retention and audit policies and the encryption features in combination with WISeID signing agent to ensure they provide audited data rooms as well as legal solutions.
Also, WISeKey MPKI will be integrated with GridBank to utilize TLS/SSL encryption to sign, encrypt as well as authenticate email communications.
WISeKey is on a run of doing various things to ensure their data, as well as IoT devices, are well protected; for instance, they recently launched a blockchain-powered digital identity solution and also opened a blockchain Center of excellence this February in Geneva. Besides, it announced opening its Global blockchain center in Malaysia.