SOURCE: Wave Systems Corp.

Wave Systems Corp.

October 25, 2012 08:29 ET

Wave Delivers Secured Credentials for Modern Access Control

LEE, MA--(Marketwire - Oct 25, 2012) - Wave Systems Corp. (NASDAQ: WAVX) is delivering secured, verified access to networks leveraging Microsoft DirectAccess by protecting credentials in hardware. This functionality allows organizations running Windows 7 (and soon Windows 8) to enable Microsoft's DirectAccess in place of a conventional virtual private network -- and to do so without fear of credential theft. DirectAccess eliminates the need for users to input their name and password to connect to the network -- so it becomes much harder to steal them.

Microsoft is making modern access control one of the key pillars in its soon-to-be-released Windows 8 operating system, with provisions that allow for machine and user ID hardware-protected certificates for user authentication for remote access and strong machine network authentication.

But enterprises don't have to wait for Windows 8 deployment -- Wave is delivering modern access control today on Windows 7 as well, playing a central role in providing a better user experience and authenticated access to networks that identify devices issued by the organization.

"DirectAccess and securing credentials within the TPM lay the groundwork for a new enterprise security model based on device identity," said Wave CEO Steven Sprague. "One of the biggest advantages from a security standpoint is that the user can only access the network from a device authorized by the company, because now IT can control which machines are allowed network access."

Corporate security that makes device ID the cornerstone of its policy puts the responsibility for security out of the hands of the user and into the hands of the enterprise.

"The user has no knowledge of device authentication credentials, and that effectively eliminates the problem of phishing or social engineering hacks that trick the user into inputting access information," Mr. Sprague continued. "With Wave, customers have the full support for machines running Windows 7, and soon Windows 8, to modernize their network architecture to one based on device identity." 

Through the use of Wave's ERAS, IT can deploy domain credentials to the Trusted Platform Module (TPM), a security chip on the motherboard of most PCs. This step simplifies the deployment process, and adds security for the credential, as TPM-secured credentials are immune to many well-known attacks.

In addition to offering greater security for DirectAcces, ERAS help protect credentials for networks running Cisco or Juniper network remote access solutions.

The latest version of ERAS (2.9) is set for release later this quarter. ERAS 2.9 supports Windows 7 and will support Windows 8.

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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