SealsQ Finalizes Acquisition of IC'alps After Regulatory Approval

SealsQ Secures Final Approval from French Authorities and Completes Acquisition of IC'alps SealsQ Corporation has obtained official authorization from the French Ministry of Economy, Finance, and Digital Sovereignty, successfully concluding its acquisition of IC'alps. The company's leadership, led by Chairman and CEO Carlos Moreira, announced the completion of the deal, marking a significant milestone in its strategic expansion. Financial details reveal that IC'alps experienced a net loss under French GAAP for the year ending December 31, 2024. This loss, approximately EUR 2,631,000 excluding sales to SealsQ, reflects the company's revenue and expenses, with sales to SealsQ totaling around EUR 615,000 during the period. Conversely, for the year ending December 31, 2023, IC'alps reported a net income influenced by sales to SealsQ amounting to about EUR 1,168,000. Excluding sales to SealsQ, IC'alps's financial performance for 2024 indicates a net loss of EUR 850,000 based on audited revenue figures. This information underscores the company's ongoing financial adjustments amid the acquisition process. Legal Disclaimer: MENAFN provides this information 'as is' without any warrantie...