SOURCE: Wave Systems Corp.

Wave Systems Corp.

July 23, 2012 08:29 ET

Wave Signs Global Distribution Agreement With Lenovo

Agreement Gives Lenovo Customers Direct Access to Award-Winning Endpoint Security and Management Portfolio for Self-Encrypting Drives and Trusted Platform Modules

LEE, MA--(Marketwire - Jul 23, 2012) - Wave Systems Corp. (NASDAQ: WAVX) today announced that it has signed a worldwide distribution agreement with Lenovo, the world's second-largest PC company, under which Lenovo will offer Wave's security solutions on a resale basis and through its channel partners.

"Wave is honored to continue and expand its relationship with Lenovo, one of the pre-eminent PC manufacturers in the world," said Steven Sprague, CEO of Wave Systems. "While Lenovo has long been one of our supporting OEMs -- for years procuring Wave software through our distribution partners -- this agreement gives Lenovo direct access to the Wave portfolio."

The increased emphasis on trusted computing is driving the security industry toward hardware-based security technologies that offer improved access control, encryption, and the early detection of malware. In particular, solid state Self-Encrypting Drives (SEDs) and Trusted Platform Module (TPM) security chips deliver stronger security for end-users and better protection for their critical data. With Wave's industry-leading solutions, Lenovo customers are empowered to secure endpoint data, protect data-in-motion and ensure that only trusted devices gain access to the enterprise network.

"Gaining direct access to Wave's endpoint security solutions means Lenovo customers now have a one-stop-shop to purchase PCs bundled with Wave's robust security and management solutions," said Wes Williams, Director of Ecosystems & Monetization Marketing Operations, Lenovo. "This agreement greatly simplifies the buying process for our customers who use Wave solutions to activate and manage SEDs, along with TPMs for persistent and unique identity, as well as the early detection of Advanced Persistent Threats."

Wave is paving the way for the industry and currently manages more SEDs than any other independent software vendor in the world. Wave's extended portfolio, which now includes Safend's Data Loss Prevention (DLP) suite, empowers organizations to:

  • Defend Data. Whether protecting data-in-motion, securing endpoint data or managing full disk encryption across an enterprise, Wave's portfolio gives enterprises the upper hand. Wave's EMBASSY Remote Administration Server (ERAS) is a single console for managing self-encrypting drives (SEDs), which are similar to standard hard drives, except that with SEDs, encryption is embedded into the core processor chip. This makes them impervious to software attacks, while greatly outperforming software encryption solutions. Wave enables drive initialization, user management, drive locking, user recovery and crypto erase for all Opal-based, proprietary and solid-state SEDs. Wave also provides the automated, turn-key management of Microsoft native encryption on Win7 platforms; software encryption with Safend Encryptor and removable media encryption for encrypting data-in-motion on removable storage devices.

  • Deter Unauthorized Users, Devices and Malware. With the lion's share of corporate data residing on network endpoints, Safend Protector and Inspector can prevent data leakage through physical ports, wireless interfaces or removable media; restrict devices by type, model or serial number; inspect, classify and block data leakage via email and control the transfer of files.

  • Detect Emerging Threats. Ensure that only trusted devices are given access to networks and services with ERAS by activating and managing the Trusted Platform Module (TPM) security chips on your PCs. With Wave Endpoint Monitor, enterprises can spot Advanced Persistent Threats by detecting unauthorized changes to the pre-boot environment as systems power on.

"Preventing data breaches is priority number one for today's enterprise organizations," said Justin Sykes, General Manager of client SSDs at Micron. "We're pleased to see Wave partner with a key customer of ours to bring greater accessibility to flash-based SEDs, which offer the single best combination of security and performance. With Wave, Lenovo customers can deploy and manage an enterprise-wide installation of Micron's C400 SEDs in a fraction of the time it would take to deploy software encryption." 

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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