SEALSQ Corp (NASDAQ: LAES) and French quantum‑chip developer Quobly announced that they have mutually decided to suspend discussions about a potential majority investment or acquisition of Quobly by SEALSQ. The parties will instead pursue a minority stake once Quobly completes its Series A financing round, a move that reflects a shared preference for a smaller equity position in line with the pace of quantum‑computing investment in France.
The decision follows a collaboration that began in November 2025, in which the two companies agreed to work together on secure semiconductor technologies and scalable quantum architectures. The partnership remains intact, and both firms will continue joint research and development efforts while the investment structure is re‑evaluated.
SEALSQ’s balance sheet is strong, with a current ratio of 7.38 and more cash than debt, yet the company has faced negative margins and declining revenue in recent periods. Management has guided for 2026 revenue growth of 50‑100% over 2025, building on a 66% year‑over‑year increase that brought 2025 revenue to $18 million. The shift to a minority investment is therefore a cautious approach that preserves SEALSQ’s financial flexibility while still allowing it to benefit from Quobly’s silicon‑based quantum‑chip technology.
Quobly’s Series A round is expected to raise capital that will enable the company to scale its fault‑tolerant quantum processors. While the exact completion date of the round is not disclosed, the parties plan to negotiate the minority stake once the funding is secured. The move signals that SEALSQ is aligning its quantum‑investment strategy with France’s national quantum agenda, which has allocated €1.8 billion in government funding over five years to support research and industry growth.
The pause on majority talks does not diminish the strategic value of the collaboration; instead, it reflects a recalibration of risk and capital allocation. By opting for a minority position, SEALSQ can maintain a foothold in the emerging quantum‑security market without committing the larger equity outlay that a majority stake would require.
The announcement underscores the growing importance of quantum‑resistant technologies and the evolving investment landscape in France, where government support and private capital are converging to accelerate quantum‑hardware development.
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