SOURCE: Wave Systems Corp.

Wave Systems Corp.

October 02, 2014 08:30 ET

Gartner Positions Wave Systems as Visionary in 2014 Magic Quadrant for Mobile Data Protection

LEE, MA--(Marketwired - Oct 2, 2014) -  Wave Systems Corp. (NASDAQ: WAVX) announced it has been named a Visionary by leading analyst firm Gartner Inc. in its 2014 Magic Quadrant for Mobile Data Protection (MDP). This achievement marks the third consecutive year that Wave has been recognized as a visionary in the MDP space. Companies in the Magic Quadrant are positioned for completeness of vision and ability to execute.

"We're thrilled to be recognized by Gartner for the third year in a row as an industry visionary in the data protection arena," said Bill Solms, CEO of Wave. "We feel this honor validates our commitment to current and future customers in providing comprehensive security solutions to address evolving day-to-day business challenges."

"Gartner defines mobile data protection (MDP) products and services as software security methods that enforce confidentiality policies by encrypting data, and then defending access to that encrypted data on the primary and secondary storage systems of end-user workstations. These storage systems include the primary boot drive of a workstation and removable devices used for portability. Storage technologies affected by MDP include magnetic hard-disk drives (HDDs), solid-state drives (SSDs), self-encrypting drives (SEDs), flash drives and optical media. Some vendors also have protection capabilities for network storage, and a few also support cloud-based storage environments as an extension to the desktop."

Wave's Data Protection Suite, which offers automated deployment and secure audit logs for compliance and regulations, encompasses a variety of solutions that defend data, deter unauthorized users, devices and malware and detect emerging threats, including:

  • EMBASSY Remote Administration Server (ERAS) for SEDs - centralized deployment and management of self-encrypting drives (SEDs) via on-site servers.
  • Wave Cloud - encryption management for SEDs, BitLocker, and OSx FileVault through an intuitive cloud interface.
  • EMBASSY Security Center (ESC) Wave's client product, providing local management for individual SEDs.
  • Data Protection Suite - complete DLP solution with port and removable media control, content-aware policies and single-agent architecture.

"MDP is an established, legacy market with two primary purposes -- first and foremost, to safeguard user device data by means of encryption and authentication; and second, to provide evidence that the protection is working," notes Gartner, Inc. in the Magic Quadrant for Mobile Data Protection, John Girard, September 8, 2014. "Most companies, even if not in sensitive or regulated industries, recognize that encrypting business data is a best practice."

About Wave Systems

Wave Systems Corp. (NASDAQ: WAVX) reduces the complexity, cost and uncertainty of data protection by starting inside the device. Unlike other vendors who try to secure information by adding layers of software for security, Wave leverages the security capabilities built directly into endpoint computing platforms themselves. Wave has been a foremost expert on this growing trend, leading the way with first-to-market solutions and helping shape standards through its work as a board member for the Trusted Computing Group.

About Gartner Inc. and the Magic Quadrant 

Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

Safe Harbor for Forward-Looking Statements

This press release may contain forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act), including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the company, its directors or its officers with respect to, among other things: (i) the company's financing plans; (ii) trends affecting the company's financial condition or results of operations; (iii) the company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Wave assumes no duty to and does not undertake to update forward-looking statements.

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