01:52 PM EDT, 05/22/2025 (MT Newswires) -- WISeKey International ( WKEY ) unit SEALSQ ( LAES ) reached an agreement in principle to buy IC'ALPS, a French company specializing in application-specific integrated circuit design and supply, for 12.5 million euros ($14.1 million) in cash and stock.

The agreement consists of 10 million euros in cash and 2.5 million euros in SEALSQ ( LAES ) shares with an additional earn-out of up to 4 million euros in shares linked to a revenue target.

The acquisition is subject to approval by French regulators, WISeKey ( WKEY ) said Thursday in a statement.

WISeKey ( WKEY ) shares rose 6.5% in recent trading Thursday, and SEALSQ ( LAES ) gained 8%.

Price: 6.95, Change: +0.42, Percent Change: +6.45