Diversinet Corp.
OTC Bulletin Board : DVNTF

Diversinet Corp.

October 04, 2005 08:30 ET

Diversinet Selected By Magna Entertainment To Provide Strong Authentication For Mobile Betting

TORONTO, ONTARIO--(CCNMatthews - Oct. 4, 2005) -

MobiSecure Soft Tokens and MobiSecure Authentication Service Center will enable Magna to secure mobile and online gaming transactions

Diversinet Corp. (OTCBB:DVNTF), a leading provider of mobile-enabled personal authentication and security solutions, announced today that its MobiSecure Soft Tokens and MobiSecure Authentication Service Center (MASC) have been selected by Magna Entertainment Corp. (MEC) (NASDAQ: MECA; TSX: MEC.SV.A) to secure MEC customers' mobile betting transactions.

"Magna Entertainment's implementation of MobiSecure will enable it to launch mobile betting services for its customers with the utmost security," said Nagy Moustafa, CEO of Diversinet. "Being able to provide peace of mind to customers that their transactions are secure and their identities are protected is critical for MEC in building its brand and trust in the online gaming arena."

"Mobile betting is seeing significant growth around the world, and it is critical that mobile betting transactions be secure," said Steve Keech, Chief Information Officer for Magna Entertainment Corp. "The MobiSecure product will allow MEC to strongly authenticate bettors whether they use cellular, WiFi, internet or on-track devices, and will increase confidence in mobile betting transactions. Diversinet's product will also support geo-fencing and age verification, two important issues in the regulation of mobile betting."

MEC, North America's number one owner and operator of horse racetracks, based on revenues, acquires, develops and operates horse racetracks and related pari-mutuel wagering operations, including off-track betting facilities. Additionally, MEC owns and operates XpressBet, a national Internet and telephone account wagering systems, and Horse Racing TV, a 24-hour horse racing television network.

Diversinet's MobiSecure Soft Tokens and MASC will allow MEC to implement a single framework for access control management using strong authentication across many different types of devices. This framework will enable it to secure all betting transactions via mobile and fixed devices while protecting users from identity theft and phishing threats.

MobiSecure soft tokens, running on mobile phones and personal computers, generate a one-time password (OTP) that is used along with the customer's traditional account/static password to strongly authenticate the user. The OTP can also be delivered to the customer's mobile device via SMS. Diversinet soft tokens are seamlessly provisioned and managed by Diversinet's MobiSecure Authentication Service Center. MobiSecure soft tokens eliminate the need for users to carry additional hard tokens, USB toggles or smartcards.

As a leading mobile-based personal authentication and security service provider for consumer and enterprise applications, Diversinet provides cost-effective strong authentication products and services that reduce identity theft and improve brand trust. Diversinet's MobiSecure products and services leverage more than 2 billion existing mobile devices and PCs as strong authentication tokens. Diversinet MobiSecure soft tokens and MobiSecure Authentication Service Center are available on all mobile devices supporting JAVA, Symbian, Windows Mobile, Palm, and RIM operating systems, on SanDisk TrustedFlash™ memory cards, and on personal computers running Microsoft Windows.

About Diversinet (OTCBB:DVNTF)

Diversinet is a leading provider of mobile-enabled personal authentication and security solutions for consumer and enterprise applications. Diversinet products and services protect a user's identity, data and device for personal communications and commercial transactions. Diversinet's MobiSecure soft token and MobiSecure Authentication Service Center enable application providers, mobile network operators and security service providers to rapidly develop, deploy and manage secure on-line services for the over 2 billion mobile device and PC users worldwide. MobiSecure is the industry's first open mobile security platform to support OATH-compliant strong authentication on mobile devices and personal computers. For more information about the initiative for Open AuTHentication (OATH) visit www.openauthentication.org. Connect with Diversinet Corp. at www.diversinet.com.

The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by the company) contains statements that are forward-looking, such as statements relating to anticipated future revenues of the company and success of current product offerings. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ materially from those expressed in any forward-looking statements made by or on behalf of the company. For a description of additional risks and uncertainties, please refer to the company's filings with the Securities and Exchange Commission.

Contact Information

  • Sacke & Associates Inc.
    Gary Hilson
    Senior Account Consultant
    416-493-5723 ext. 203
    Diversinet Corp.
    Wally Kowal
    Vice President Marketing
    416-756-2324 ext. 231