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Yubico Goes PublicYubico Goes Public
The Swedish maker of Yubikeys has merged with special purpose acquisition company ACQ Bure.
September 20, 2023
Hardware-based authentication company Yubico is now a publicly traded company on the Nasdaq First North Growth Market in Stockholm. The ticker symbol? YUBICO.
Yubico's core product, Yubikeys, are used to implement hardware-based multifactor authentication and further zero-trust initiatives. These hardware keys are compatible with multiple authentication protocols, including FIDO2/Web Auth, Universal 2nd Factor, PIV/Smart Card, and One Time Password. Yubico also offers a YubiEnterprise Services Program to help enterprises manage the delivery of these keys.
Becoming a publicly traded company will help Yubico enter adjacent authentication markets, gain new customers, and work more closely with third-party suppliers, the company said back in April, when the intent to go public through a merger with Swedish holding company ACQ Bure was initially announced. Going public will also allow Yubico to go from having a "just-in-time" manufacturing approach to providing an uninterrupted inventory supply, which would make it possible to fulfill larger orders, said Yubico CEO Mattias Danielsson in a FAQ discussing the announcement.
Founded in 2006, Yubico has raised $88 million in funding. Revenue was about $151 million in 2022, with a profit of $24.8 million.
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