Yubico goes public as YUBICO on Nasdaq in Stockholm
Yubico, the provider of hardware authentication security keys, is now publicly trading under the ticker symbol YUBICO on the Nasdaq First North Growth Market in Stockholm.
Yubico announced its intent to go public on April 19, 2023, through a merger with Swedish holding company ACQ Bure. The union increases Yubico's resources globally and ensures more organisations and consumers can be protected against a fast-growing array of cyber threats, including AI-powered phishing schemes and ransomware attacks.
These attacks result in billions of dollars in yearly losses for businesses and threaten the safe operation of critical infrastructure and services, from government agencies to financial institutions, factories, healthcare and human rights organisations.
Mattias Danielsson, CEO of Yubico, says: "Today marks an exciting milestone for Yubico and our global customers and partners."
"We have been a pioneer of modern, hardware-based authentication, leading and setting cybersecurity standards over the past 16 years."
"As a publicly-traded company, we look forward to building upon this in the next stage of growth, creating even more value for our customers and shareholders, and inviting others to join our journey," says Danielsson.
Yubico's unique solutions enable organisations to address the source of 90% of cyberattacks: phishing and stolen login credentials. Its flagship YubiKey series provides phishing-resistant multi-factor authentication (MFA) based on modern authentication protocols, including FIDO2 passwordless (passkeys) and smart card PIV support.
The physical security keys are designed to work seamlessly with an organisation's legacy and modern infrastructure. Yubico Enterprise Services deliver lower cost and value to entry, flexibility, faster rollout and seamless distribution of security keys, intended to meet an organisation wherever it is on its authentication journey.
Stina Ehrensvärd, Co-Founder and Chief Evangelist at Yubico expresses pride and gratitude for having established a worldwide benchmark in robust authentication. Yubico's decision to go public is seen as a means to fortify further its technology's ability to safeguard millions of individuals globally.
This move will also enable Yubico to continue innovating and enhancing its authentication technology to meet the increasing demand for robust and seamless authentication solutions.
Stina Ehrensvärd says: "We are proud and humbled to have built and established a global gold standard for strong authentication, and being publicly traded ensures our technology will be able to better protect millions of individuals around the world."
"This path allows Yubico to continue innovating and investing in our technology to meet the growing demand for strong and frictionless authentication."
Since the company was founded in 2007, it has set global standards for secure access to computers, mobile devices, servers, browsers, and internet accounts.
Yubico is a creator and core contributor to the FIDO2, WebAuthn, and FIDO Universal 2nd Factor (U2F) open authentication standards and is an expert in delivering modern, hardware-based passkey authentication security at scale to customers in over 160 countries.