SOURCE: Wave Systems Corp.

Wave Systems Corp.

April 22, 2013 08:49 ET

Nordic Expansion: Wave Secures One of the Largest Financial Institutions in the Region

Prominent Nordic Distributor Played Key Role in Largest-Ever Trusted Computing Deployment in Scandinavia

LEE, MA--(Marketwired - Apr 22, 2013) -  Wave Systems (NASDAQ: WAVX), the Trusted Computing Company, announced that a large finance and insurance institution in the Nordics selected Wave to strengthen its network security and, in doing so, also eliminated the need for passwords by its users.

The financial institution has a sizeable remote workforce that required a seamless and secure method for remote connectivity. For its part, IT needed to minimize the risk of hacks due to credential theft, while also avoiding the added costs of tokens or smartcards for second-factor authentication.

Rather than using a traditional virtual private network (VPN), the financial institution deployed Microsoft's DirectAccess, a VPN-like technology first introduced in Windows 7. They chose Wave's EMBASSY® security software to secure credentials in the Trusted Platform Module (TPM), an industry standard security chip that establishes machine identity.

"The biggest advantage is that IT controls which machines are allowed network access -- the user can only access the network from a company-authorized device," said Joseph Souren, Vice President and General Manager for Wave Systems Corp. "This approach simplifies the challenge of remote access to the network."

Strategic Distribution Partner Strong Advocate for Trusted Computing

As a result of the deal, Wave will continue to seek growth in the Nordic market through its strategic partnership with Sweden-based Inuit -- a distributor that works exclusively with selected manufacturers in IT security and administration.

"The Scandinavian market is waking up to the capabilities and uses of Trusted Computing technologies. Wave is the true pioneer in this space and Inuit is proud to help Wave identify skilled reseller and solution partners moving forward," said Thorir Eggertsson, CEO and Founder of Inuit AB in Sweden.

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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