NEW YORK And STOCKHOLM - July 10, 2018

Versasec Names Apica Systems Founder Sven Hammar to Board of Directors

Versasec, the leader in smart card management systems, named the highly regarded technology industry luminary Sven Hammar to its Board of Directors at the company's annual general meeting.

Mr. Hammar brings to Versasec well established credentials, including extensive experience in working with start-ups and established companies as well as strong negotiating experience with both enterprise customers and financial institutions. His career highlights include presenting and receiving significant venture capital funding, rapid team building, establishing distribution and partnership with leading industry players, leading mergers and acquisitions, and working with major restructuring and cost-saving programs. He's held top leadership positions in international companies and spent four years in Silicon Valley.

"Recruiting Sven Hammar to the Versasec Board of Directors is a major accomplishment for us," said Torvald Bohlin, Chairman of the Board for Versasec. "He is very well known in the industry and has established a number of successful start-ups throughout his career."

Mr. Hammar is the CEO of Apica Systems, an applications performance company which he founded in 2005. There, he has been instrumental in the company's funding efforts and its international expansion. Prior to Apica, he worked for Gemplus (now called Gemalto) and Celo Communications.

"I have had the pleasure of working with Sven in the past. He is a close friend and mentor, and we fully expect his long history of success and industry excellence will serve the Versasec team very well in the coming years as we grow and expand our business globally," said Joakim Thorén, CEO of Versasec.

Mr. Hammar earned his master's in science degree in industrial economics from Sweden's Linköping University. His marketing and technical experience includes software testing, development, connectivity, test tools, e-commerce, hardware, networking, operating systems, and telecommunications technologies in areas including marketing strategies, business development, enterprise and Internet business security using Public Key Infrastructure (PKI) solutions, UNIX security, client/server background and more.

"I very much look forward to working with the talented team at Versasec and lending my expertise as they take their company and solutions to the next level of expansion and performance," Mr. Hammar said.

About Versasec

Versasec is the leading provider of state-of-the-art highly secure passwordless identity and access management solutions. With its flagship product, vSEC:CMS, Versasec eases the deployment of physical and virtual smart cards for enterprises of any size. Versasec's solutions enable its customers to securely authenticate, issue and manage user credentials more cost effectively than other solutions on the market.

Versasec maintains its mission of providing solutions that are affordable and easy to integrate, coupled with first-class support, maintenance, and training. Versasec customers include HSBC, IMF, eBay, Northrup Grumman, EDAG, Hornbach, Raiffeisen Bank, SPGroup, Sunrise Regional Health, Banque Du Liban, Swiss Mobiliar, Cleveland Clinic, SERCO, KNPC and Sandia National Labs. Versasec has offices in Sweden, Dubai, Kuala Lumpur, Egypt, the United States, the United Kingdom, France, and Germany.

Versasec's products and services can be purchased and delivered worldwide through an extensive reseller network and via the Versasec web site:

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