SOURCE: Wave Systems Corp.

Wave Systems Corp.

July 25, 2012 08:31 ET

NATO NCI Names Wave as Approved Vendor With Basic Ordering Agreement

First Step in Providing NATO Countries With Access to Wave's Endpoint Security Portfolio

LEE, MA--(Marketwire - Jul 25, 2012) - Wave Systems Corp. (NASDAQ: WAVX) announced today that it has signed a Basic Ordering Agreement (BOA) with the NATO Communications and Information Agency (NCI Agency). The BOA provides the framework for all 28 member countries (which includes the United States European Command (EUCOM)) to access Wave's complete portfolio of trusted computing security solutions. Under the agreement, Wave is entitled to compete on bids pertaining to the company's areas of expertise.

A BOA is the primary part in a two-stage contracting procedure, whereby the contract is negotiated and placed with a supplier for specific types of products. It serves as a written instrument of understanding, negotiated between the NCI Agency and Wave, that includes terms and clauses applicable to future task order awards, a description of supplies or services to be provided and methodology for pricing, issuing and delivering future task orders.

"Cyberspace is the arena for 21st century warfare. Hackers are intent on infiltrating networks and stealing sensitive data, and no country within NATO is immune to these threats," commented Steven Sprague, Wave's CEO. "Trusted computing offers the best and most cost-effective defense against data theft and can help detect and mitigate threats posed by a new class of advanced persistent threats. Signing this agreement makes it easier for the entire NATO community to directly access Wave's trusted computing solutions, while giving Wave an opportunity to respond to RFPs related to our area of expertise in a timely and efficient manner."

Trusted computing standards provide capabilities that can be leveraged in many mission systems where device assurance, integrity and data protection are required. As the adoption of trusted computing continues to grow across all platforms, there are many ways this industry-standard technology can be leveraged to reduce costs and improve security and assurance of any computing system. Wave provides the expertise and solutions to realize the security benefits of the industry standards.

In July, NATO Consultation, Command and Control Agency (NC3A) merged with NATO ACCS Management Agency and parts of the NATO Communications and Information System Services Agency (NCSA) to form the NATO Communications and Information (NCI) Agency, tasked with "connecting forces, NATO, and Nations" as NATO's IT and C4ISR provider, including cyber and missile defense.

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.

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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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