Switzerland-based blockchain, Internet of Things (IoT) and cybersecurity firm WISeKey has acquired a 22 percent interest in American data infrastructure firm Tarmin through a multi-million USD transaction, exact amount unspecified. The news was revealed in an official announcement from WISeKey on April 3.
WISeKey focuses on creating digital identity ecosystems that implement blockchain, AI and IoT technology for people and smart device, while Tarmin develops scalable data and software defined infrastructure for high-volume data management and secure storage. WISeKey’s agreement to acquire a 22 percent interest in the latter had been signed in the fall of last year.
The investment will enable WISeKey to integrate Tarmin’s secure cloud offering and data management architecture — the GridBank Data Management Platform — into WISeID.com. WISeKey proposes that the integration will allow the firm to tackle the challenges associated with storing and managing large volumes of data long term, but also to gain value from it.
While burgeoning data volumes are “growing exponentially, increasing costs and driving greater regulatory risks,” WISeKey notes, they can equally offer firms an opportunity “to gain actionable insights from business-critical information.”
Tarmin’s cooperation with WISeKey’s Trusted Vertical Cybersecurity Platform will reportedly lead to the joint development of a next generation data management and storage solution dubbed “WISeBox” — a managed cloud service that will combine the GridBank with WISeKey’s cryptographic tool, Root of Trust (RoT) (a common trust anchor) and PKI architecture.
By implementing decentralized trust models, WISeKey notes that its evolving secure data ecosystems are federated via a unique digital identity, enabling users preserve control over the storage, access and use of their data:
“By decoupling content from the application and digital identity itself, users will be able to use their data as currency and develop digital data dividends-based solutions.”
The Tarmin cooperation will also see WISeKey “utiliz[ing] GridBank’s search and e-discovery capabilities, audit and retention policies and encryption features combined with WISeID Signing Agent to provide audited data rooms and legal solutions.”
GridBank will further be integrated with WISeKey MPKI, utilizing TLS/SSL encryption to sign, encrypt and authenticate email communications.
As reported, WISeKey has recently launched a new blockchain-powered digital identity solution to protect IoT devices and their data. The firm also opened a Blockchain Center of Excellence in Geneva this February as part of a new partnership with the Blockchain Research Institute.
WISekey also announced the opening of its Global Blockchain Center in Malaysia as part of a partnership with a subsidiary of Malaysian tech investment holding Censof.