Hiddn: Enters into an LoI with Swissbit AG to optimise production for Hiddn’s high-end encryption solutions.
(Oslo, 23 May 2018) Hiddn Solutions ASA (Hiddn, OSE: HIDDN) today announces that it is entering into a Letter of Intent (LoI) with Swissbit AG (Swissbit), a leading manufacturer and supplier of industrial flash memory and security solutions.
“We are pleased to enter into an agreement with Swissbit, which marks an important step towards an optimised and cost efficient set-up for future volume production of Hiddn’s products. We have recently entered into important distribution and partnership agreements, and expect more to follow, which will hopefully lead to growing demand for our products. That will require a skilled, experienced, and cost efficient production partner” says Carl Espen Wollebekk, CEO at Hiddn Solutions.
Swissbit is considered a global innovation leader in storage technology for high-reliability solutions. As outlined in the LoI, the parties intend to collaborate to customise, optimise and test Hiddn’s encryption solution to make it even more suited for volume production at Swissbit’s state-of-the art manufacturing, testing, and packaging facility in Berlin.
Swissbit has more than 25 years of experience developing removable and embedded memory solutions for the most security-minded markets, coupled with a trusted global distribution and support network which serves more than 5000 customers around the world including Fortune 500 companies and the world’s leading OEM’s.
“Both Swissbit and Hiddn recognise the undeniable need for reliable and secure storage solutions. We look forward to further explore how we can collaborate with Hiddn going forward, as the company has been at the frontier of encryption solutions and secure data storage over the past two decades,” says Hubertus Grobbel, Head of Business Unit Security at Swissbit AG.
For further information, please contact:
Carl Espen Wollebekk (CEO), telephone: + 47 930 55 505 /e-mail: cew@hiddn.no
About Hiddn Solutions ASA
Hiddn Solutions ASA (Hiddn) is a public limited company headquartered in Oslo, Norway, listed on the Oslo Stock Exchange under the ticker HIDDN. Hiddn is supplying impenetrable proprietary hardware-based authentication and encryption products. Hiddn's encryption product suite offers a distinctly superior level of safety and ensures that sensitive information stays confidential and unavailable to unauthorised access, even if the device is lost or stolen. Hiddn’s products are currently being used amongst others by the Norwegian Armed Forces, national and Dutch Authorities and on NATO's Northrop Grumman's Global Hawks surveillance drone. Hiddn aims to capitalise on the significant investments made to date by embarking on a full commercial scaling and take advantage of the current technology and cybersecurity trend in the market place.For more information, please visit www.hiddnsolutions.com
About Swissbit AG
Swissbit, the largest independent manufacturer of embedded memory and flash storage solutions in Europe, was created through a management buy-out from Siemens Semiconductor in 2001. With over 25 years of experience in the memory & storage industry Swissbit has become a world class leader in technology, supplying high quality, high reliability solutions in all established storage interfaces. For more information, pease visit www.swissbit.com.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
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