Here is the WAVX news. Check out the first couple of lines starting Lee/Mass...
:-))
Thursday September 7, 9:29 am Eastern Time
Press Release
Wave Systems and BIZ Interactive Zone Form Strategic Relationship for Technology and Services To Deliver Secure Services Provider Solutions
Trust @ the Edge Architecture and Wave Services to Be Deployed For Broadband Core to the Edge(TM) Internet E-Commerce Security Solution
LEE, Mass.--(BUSINESS WIRE)--Sept. 7, 2000-- First SSP Solutions to Be Demonstrated at Forbes/Gilder Telecosm
Conference
BIZ Interactive Zone, a privately held company pioneering the Core to the Edge (TM) security solution necessary to unleash the full power of broadband delivery of valued content and services over the Internet, and Wave Systems Corp. (Nasdaq:WAVX - www.wave.com), a leading developer of technology platforms and services that enable next-generation e-commerce, today announced a strategic partnership which will include licensing and utilization of the full range of Wave's leading EMBASSY Trusted Client technologies, as well as Wave's services including the EMBASSY Trust Assurance Network, distributed transaction systems, and content protection applications using digital rights management.
Wave's technologies and services will be deployed as part of BIZ's branded Secure Service Provider (SSP(TM)) Suite. The two companies also agreed to co-brand the EMBASSY platform and SSP(TM) in all trusted Internet user devices deployed under the BIZ SSP comprehensive initiative for extending security from the core to the edge of the Internet.
In an announcement issued by BIZ Interactive Zone on September 6, 2000 BIZ Chairman and CEO Marvin Winkler laid out the overall SSP objective to bring together leading edge technology and service providers under the Secure Service Provider umbrella to create a comprehensive end-to-end security layer for the Internet. SSP is being designed to address the myriad of security-related problems facing the Internet such as content piracy, privacy issues, secure e-commerce, virus attacks, transaction scalability challenges, and the dynamic changes in security approaches.
``Wave Systems and BIZ have virtually identical visions for the future of the Internet as the basis of trusted relationships of all kinds between governments, businesses and individuals,'' said Steven Sprague, president and CEO, Wave Systems. ``BIZ brings a set of powerful relationships and partners to the SSP solution which combined with Wave's EMBASSY Trusted Client technologies and services will significantly extend the Internet security solutions and accelerate the adoption of trusted user devices, particularly for broadband applications.''
Wave Systems, Wavexpress, and BIZ will demonstrate an initial set of Secure Service Provider applications based on Interactive Broadcast with integrated e-commerce at the Forbes/Gilder Telecosm Conference on September 14, 2000 at Lake Tahoe.
The agreement between BIZ and Wave includes the following primary elements:
License of EMBASSY Trusted Client technology with co-branded user devices
Development of EMBASSY support for non-PC platforms
Licenses to operate an EMBASSY Trust Assurance Network
Transaction services with digital rights management applications
Integration with other SSP provider solutions
``By building a team of providers who are `best of breed' we have combined the leaders in broadband, electronic banking, and server transaction security with the leader in trusted client systems, to create the Internet's only true end-to-end secure solution for the transacting of commerce and the exchange of intellectual property,'' said Rob Gorman, BIZ president and COO. ``We plan to expand the number of SSP partners significantly over the next months to include a full range of systems integrators, network providers, content companies, and leaders in vertical industries such as healthcare, entertainment, and banking.''
The team of providers assembled by BIZ will market the system under the brand SSP, for ``Secure Service Provider.'' Wave's EMBASSY Trusted Client technology will integrate strong security in every SSP-enabled user device, using a secure micro-processor and real-time clock, non-volatile storage, global (unique) ID, and crypto accelerators.
Broadcom (NASDAQ:BRCM - news) will supply broadband accelerator silicon processors for integration on interface and accelerator boards as well as access appliances. Litronic Inc. (NASDAQ:LTNX - news) will provide a broadband silicon processor system for extreme high-speed PKI encryption authentication, transaction processing, and high-density secure encryption based on Broadcom chips. BIZ and its partners in unveiling their SSP suite of products and services seek to set a worldwide broadband industry standard for processing real-time, secure transactions over the Internet.
The SSP Suite being assembled by BIZ will create a new paradigm for secure, private, trusted transactions in the real-time exchange of authenticated financial, and intellectual information. The complete suite of firmware, software, and applications will support all e-commerce requirements, including automatic rules handling, digital rights management, micro-payment processing, transaction clearing, authentication, and content preparation. The SSP system will employ Smart Cards so any individual or virtual community can direct funds or information through a secure channel. SSP will be platform independent, easy to integrate, and open and programmable by third parties to insure mass adoption.
``The SSP system will turn the Internet inside out by moving core security and e-commerce functions out to the edge, and into a user's Internet access device, be it PC, cable, DSL, wireless modem, satellite receiver or other appliance,'' Gorman said. ``Our first implementations will include secure keyboards and Smart Card readers that provide secure PIN and password entry in the peripheral without exposing these items to processing by the unsecured PC. At last, truly reliable digital exchange and commerce over the Internet is possible. The virtual revolution has turned into a real revolution.''
About BIZ Interactive Zone: BIZ is pioneering the only Core to the Edge(TM) security solution that enables merchants, consumers, and vertical virtual communities to confidently transact commerce and exchange confidential information online, by delivering a new worldwide broadband industry standard for real-time, secure, private transactions. These technologies when combined with BIZ partners completes the Secure Service Provider (SSP) suite of products and services enabling secure transactions projected to be up to 10,000 transactions per second, as compared to 100 transactions per second of the current software only solutions for Public Key Infrastructure (PKI). BIZ and its partners will market this revolutionary suite of products and services under the brand SSP for ``Secure Service Provider.''
About Wave Systems - Wave Systems' goal is to build a worldwide network of users based on trusted electronic relationships. Trust @ the Edge defines a new architectural model for the Internet, which embeds trust and security in every user device. Wave Systems is developing, deploying and licensing its EMBASSY Trusted Client technology for the mass adoption of this revolutionary model, integrating industry standard functions, from a wide range of partners that enable reliable, secure digital exchange and commerce over the Internet. At its core, Wave Systems is building the services, and enabling 3rd parties to build services that will take advantage of this new, open, Trust @ the Edge model.
For more information about Wave Systems and Trust @ the Edge, visit www.wave.com .
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 loss of market share, changes in consumer buying habits and other factors over which Wave Systems Corp. has little or no control.
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Contact:
Wave Systems Corp.
Corporate:
John Callahan, Wave Systems Corp., 413/243-7029
jcallahan@wavesys.com
or
Media:
Alex Thorne, Brodeur Worldwide, 202/756-1485
or
Media:
Sally Romoser, Burson-Marsteller, 858/646-3052 |
