SOURCE: Wave Systems Corp.

Wave Systems Corp.

November 14, 2011 08:29 ET

Samsung Partners With Wave to Extend Trusted Computing Security by Enabling Its Semiconductor Capabilities in PC, Tablet and Consumer Devices

Wave Selected to Provide Services, Software and Marketing for New Trusted Computing Security Solutions as Samsung Increases Commitment to Hardware-Based Security

LEE, MA--(Marketwire - Nov 14, 2011) - Wave Systems Corp. (NASDAQ: WAVX) announced today an agreement to provide Samsung Electronics with engineering services, consulting, validation and a customized version of Wave's local management software for Samsung's Trusted Platform Module (TPM) security chips designed for OEM distribution.

"As businesses worldwide are seeking better security for their critical information and network access, the importance of a fundamental new approach to securing a powerful management infrastructure that ensures only authorized users on known devices are granted access or can execute critical functions has been crucial," said Dojun Rhee, Vice President of System LSI marketing, Device Solutions, Samsung Electronics. "By combining Wave's broad expertise/know-how, and strong OEM and enterprise customer relationships in trusted computing with Samsung's world-leading chip design and manufacturing capabilities, Samsung will provide reliable, competitive trusted computing security chips for our customers."

"We look forward to providing Samsung's OEM customers the ability to turn on, manage and leverage the Trusted Platform Module with Wave's software, to deliver stronger security for end-users and better protection for their critical data," said Brian Berger, Wave's Executive Vice President of Marketing and Sales. "Samsung recognizes the power of trusted computing, and this move will empower partners and customers with new, silicon-based means to provide trusted hardware on numerous platform types in the coming years."

Trusted computing enables organizations to establish a more secure computing environment without compromising functional integrity, privacy or individual rights. The Trusted Computing Group is a not-for-profit organization formed to develop, define and promote open vendor neutral standards for trusted computing building blocks and software interfaces across multiple platforms.

"With billions of handhelds, tablets and slates in the hands of today's workforce, ensuring that these devices are known and trusted within the organization is paramount," said Eric Ouellet, Research Vice President at Gartner. "To date, the percentage of attacks against this class of device is relatively small, yet this is likely to change as these kinds of devices are increasingly becoming the primary computing platforms in today's enterprise environment. Implementing embedded security on these devices is a major step in the right direction and will provide the foundation for preventing tomorrow's threats and the loss of valuable corporate, employee and customer sensitive data."

Samsung is a global leader in advanced semiconductor solutions, combining cutting-edge designs, advanced manufacturing processes and quality, and innovative packaging technology to deliver a broad portfolio of semiconductor solutions including security chips for smart cards and NFC-enabled mobile devices.

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.

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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Contact Information

  • Company:
    Michael Wheeler
    Wave Systems Corp.

    Investor Relations:
    David Collins, Jennifer Neuman
    Jaffoni & Collins