Hiddn Solutions Enters Into Letter of Intent With Swissbit

Hiddn Solutions ASA is entering into a Letter of Intent (LoI) with Swissbit AG, a 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, Hiddn.

As outlined in the LoI, the parties intend to collaborate to customise, optimise and test Hiddn’s encryption solution to make it more suited for volume production at Swissbit’s manufacturing, testing, and packaging facility in Berlin, Germany.

Swissbit has more than 25 years of experience developing removable and embedded memory solutions for the security-minded markets, coupled with a distribution and support network which serves more than 5,000 customers around the world including Fortune 500 companies and 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 storage over the past two decades,” says Hubertus Grobbel, head of business unit security, Swissbit.