Iceland’s leading production company Sagafilm Nordic has teamed with Swiss banner C-FILMS on “Codeword: Rubicon,” an espionage thriller series inspired by the infamous CIA operation involving the firm Crypto AG.

Created by Hungarian director-writer Balazs Juszt(“I Love You, Too”), the eight-episode series has been commissioned by broadcaster Swiss Television (SRF).

The show chronicles the story of how Crypto AG, a Swiss family-owned company manufacturing code-making machines founded in 1952 by a Swedish mathematician was secretly owned and operated by the CIA in partnership West German Intelligence services. From decades, the Swiss company sold equipment to more than 120 countries, including Iran and nuclear rivals India and Pakistan, and even the Vatican, according to the Washington Post. The role of the U.S. and West German intelligence was revealed by the Crypto Leaks.

Juszt penned the pilot and serves as creator and executive producer with Dominik Bernet (“Undertaker”) and Johann Ævar Grimsson (“Stella Blómkvist”) serving as co-writers on the first season which is set to go into pre-production next year.

Juszt made his feature debut with “The Man Who Was Thursday” which premiered at the Edinburgh Film Festival. He’s also been developing espionage series with Peter Webber (“The Girl With a Pearl Earring”) and Gareth Wiley (“Match Point”), among others.

C-FILMS AG’s co-production credits include Oscar-winning Italian director Paolo Sorrentino’s “Youth” and the Emmy-award series “In The Name of God.” Recent titles include the Swiss drama-series “Buried Truth” whose fourth season was released in January. Sagafilm’s recent credits include “Sisterhood” and “Stella Blómkvist,”both Viaplay original series). Sagafilm’s factual and documentary department recent projects include “Battle For Iceland,” “Raise the Bar” and “Out of Thin Air.