SOURCE: ActivIdentity

August 04, 2008 08:00 ET

Jacques Kerrest Joins ActivIdentity as Chief Financial Officer and Chief Operating Officer

After Major Board Restructuring, a Premier Senior Level Management Team Emerges

FREMONT, CA--(Marketwire - August 4, 2008) - ActivIdentity Corporation (NASDAQ: ACTI), a global leader in digital identity assurance, today announced that Jacques Kerrest has accepted the position of Chief Financial Officer and Chief Operating Officer. In this capacity, Mr. Kerrest will oversee all of ActivIdentity's financial and operational functions, including finance and accounting, financial planning and analysis, regulatory and risk management.

Partnering with recently appointed CEO Grant Evans, Mr. Kerrest brings a notable record in building companies through M&A and managing new growth and organizational challenges, which further positions ActivIdentity to realize the potential for substantial growth.

Previously, Mr. Kerrest served as Chief Financial Officer of Virgin Media Inc., the second largest communications company in the UK, where he was responsible for overseeing every aspect of finance. Before that, he was Chief Financial Officer of Equant N.V. and prior to that of Harte-Hanks, Inc. and Chancellor Broadcasting Company.

"It is very important to ActivIdentity that Jacques has elected to join us at this critical time of company growth and redirection," said Grant Evans, Chief Executive Officer of ActivIdentity. "I personally embrace Jacques as a partner and his expertise and background will be invaluable as we move forward with strategies and tactics that position the company for long-term growth, and improved shareholder value."

Mr. Kerrest added, "In making this next move in my career, I carefully selected ActivIdentity because of the exciting growth opportunity in the market, the premier position and intellectual property the company holds and the vision of the CEO and the Board. It is a company with remarkable talent and strongly committed individuals. ActivIdentity demonstrates to me an irresistible potential that I am excited to help bring to full fruition."

About ActivIdentity

ActivIdentity® Corporation (NASDAQ: ACTI) identity solutions secure the business of enterprise, government, and financial services organizations worldwide. Trusted identity is the core of the ActivIdentity platform enabling security for data, networks, applications, passwords and credentials, web, email and documents, transactions as well as converged security.

ActivIdentity solutions support the convergence of physical and logical identity through strong authentication with smart card lifecycle management, adding enterprise single sign on, and data encryption and digital signature.

ActivIdentity customers experience multiple benefits including increased network security, protection against identity theft and online fraud, enhanced workforce productivity, business process efficiencies, and regulatory compliance.

Headquartered in Fremont, CA (USA), ActivIdentity develops products in the United States, Australia, and France, and has sales and technical service centers in more than ten countries. More than 15 million users and 4,000 customers worldwide rely on ActivIdentity identity assurance technology to address growing internal and external risks. The company works with world class partners such as EDS, Hewlett-Packard, IBM, Microsoft, Novell, and Sun Microsystems. For more information, visit


As an inducement to his entering into employment with the Company, Mr. Kerrest was awarded two options in accordance with NASDAQ Marketplace Rule 4350(i)(1)(A)(iv). The options entitle Mr. Kerrest to purchase, outside of the Company's stockholder-approved equity incentive plans, an aggregate of up to 1,350,000 shares of the Company's common stock at an exercise price per share equal to the last reported closing price of the Company's common stock immediately prior to the grant. One option, representing the right to purchase 650,000 shares, will vest per the Company's regular vesting schedule over four years. The other option, representing the right to purchase 700,000 shares, will vest only upon the Company's stock price trading at or above $4.50 per share for a stated period of time. Both options have a term of 7 years.

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