WISeKey International (WKEY) said Monday its SEALSQ (LAES) unit completed the acquisition of French semiconductor firm IC'ALPS SAS after receiving final approval from the French Ministry of the Economy.

The deal includes 100% of IC'ALPS' share capital and voting rights, with nearly 90 employees joining SEALSQ, bringing its French workforce to more than 150.

The purchase price totals 12.5 million euros ($14.5 million), paid in a mix of cash and SEALSQ shares, with an additional earn-out of up to 4 million euros contingent on IC'ALPS meeting 2025 revenue targets.

Shares issued as part of the deal are subject to a 180-day lock-up period, restricting the seller from selling or transferring them, WISeKey said.

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