SOURCE: Wave Systems Corp.

Wave Systems Corp.

October 21, 2010 08:33 ET

Wave Ranked 73rd Fastest Growing North American Company on Deloitte's 2010 Technology Fast 500™

LEE, MA--(Marketwire - October 21, 2010) -  Wave Systems Corp. (NASDAQ: WAVX) today announced that it ranked number 73 on Technology Fast 500™, Deloitte's ranking of 500 of the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. Rankings are based on percentage of fiscal year revenue growth during the period from 2005-2009. Wave's revenue grew 1,755 percent during this period.

Wave's President and CEO, Steven Sprague, attributed the five-year revenue growth to its expanding base of endpoint security solutions. 

"Wave's placement on Deloitte's Technology Fast 500™ for the third year in a row reflects growing global awareness and support for hardware-based PC security," Sprague said. "Over the last 12 months we have added several prominent customers, including a 'Big Three' automaker and one of the most widely recognized accounting and professional service firms in the world. We've achieved these milestones while continuing to gain traction in verticals such as healthcare and financial services where data security and authentication solutions are mission critical. In addition, we expanded our OEM footprint with a new partnership with a leading PC OEM."

"Wave and the other 2010 Technology Fast 500™ winners forged ahead in a challenging economic environment to realize exceptional growth," said Phil Asmundson, Vice Chairman and Deloitte's U.S. technology, media and telecommunications leader. "Deloitte commends Wave for this impressive accomplishment."

"Wave has proved itself to be one of the fastest growing tech companies in North America, and we are proud to honor them as one of the 2010 Technology Fast 500™," said Mark Jensen, Managing Partner, Venture Capital Services, Deloitte & Touche LLP.

About Wave Systems Corp.
Wave provides software to help solve critical enterprise PC security challenges such as strong authentication, data protection, network access control and the management of these enterprise functions. Wave is a pioneer in hardware-based PC security and a founding member of the Trusted Computing Group (TCG), a consortium of more than 100 companies that forged open standards for hardware security. Wave's EMBASSY® line of client- and server-side software leverages and manages the security functions of the TCG's industry standard hardware security chip, the Trusted Platform Module (TPM) and supports the TCG's "Opal" self-encrypting drive standard. Self-encrypting drives are a growing segment of the data protection market, offering increased security and better performance than many existing software-based encryption solutions. TPMs are included on an estimated 300 million PCs and are standard equipment on many enterprise-class PCs shipping today. Using TPMs and Wave software, enterprises can substantially and cost-effectively strengthen their current security solutions. For more information about Wave and its solutions, visit http://www.wave.com.

About Deloitte
As used in this document, "Deloitte" means Deloitte LLP. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries.

Safe Harbor for Forward Looking Statements
Except for the statements of historical fact, the information presented herein constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to fund operations, the ability to forge partnerships required for deployment, changes in consumer and corporate buying habits, chip development and production, the rapid pace of change in the technology industry and other factors over which Wave Systems Corp. has little or no control. Wave Systems assumes no obligation to publicly update or revise any forward-looking statements.

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Contact Information

  • For more information please contact:
    Company:
    Wave Systems Corp.
    Michael Wheeler
    413-243-7026
    mwheeler@wavesys.com