SOURCE: Wave Systems Corp.

Wave Systems Corp.

October 05, 2015 08:00 ET

Wave Systems Signs 3-Year Royalty Agreement With Leading Microchip Distributor for TPM 2.0 Management Software

For Wave Client Software Packaged With Silicon Application Corp. Sales of Microchips

LEE, MA--(Marketwired - Oct 5, 2015) - Wave Systems Corp. (NASDAQ: WAVX) and Silicon Application Corp. Group (SAC), a distribution leader in the microchip industry, announced that they have signed a three-year software license and distribution agreement for Trusted Platform Module (TPM) software management and maintenance. 

The agreement grants to SAC a royalty-bearing limited license to use, reproduce, distribute and import Wave's TPM management software client for packaging and sales distribution with the TPM 2.0 microchip. Royalties are based upon units sold, but the agreement does not provide for minimum or guaranteed purchases or royalties. Initial shipments may begin in Q4 2015, but we do not expect material shipments to begin prior to early 2016.

"While we continue to work through restructuring and cost savings initiatives and will require additional financing for operations in the near term, we believe that this agreement, the first royalty contract for our new TPM 2.0 management software, is an important development for our TPM solutions," said Bill Solms, President and CEO of Wave Systems. "This puts Wave in the position of being one of the first to market with software supporting the new TPM 2.0 standard. We're very pleased to be partnering with SAC to promote and set the tone for TPM management software globally."

As part of the agreement, Wave will offer its EMBASSY Security Center (ESC-Pro) Infineon Edition for 32/64 bit Windows 7, 8, 8.1 and 10. The software solution provides enterprises with a powerful tool to ensure endpoint and network security by activating and managing the TPM so that both the user and the device can be securely verified. 

For more information about Wave solutions, visit: www.wave.com.

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.

About Silicon Application Corp. Group
SAC Group was founded in 1987, a member of WPG Holdings with headquarters in Taiwan. Including the recent merger with the Pernas group in July 2014, they employ around 860 people in Taiwan, China, and South Asia. SAC Group is dedicated to be a professional Distributor for the Integrated Circuit industry with revenue of nearly US$2.23B in 2014. SAC Group has broad line cards, which include NXP, Mediatek, Infineon, AUO, Samsung, Winbond, Intel, Toshiba, OSRAM, Bosch Sensortec, AutoChips, On Semi and 60 more franchises. The SAC Group customer base covers the Communication Networking, Computing, and Consumer market. They continuously franchise globally branded vendors, providing high level technical support and offering a rich product portfolio to clients. Visit SAC Group at http://www.SACG.com.tw.

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 needs, which are critical to continuing the company's operations in the near term; (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 agreement described herein does not does not provide for minimum or guaranteed purchases or royalties. Accordingly, there are no assurances that the agreement will result in revenues or other benefits to Wave. 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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