Baltimore Technologies enters a multi-million dollar OEM agreement with
Seiko Instruments Inc (SII) in Japan Strategic Agreement adds Baltimore SureWare
hardware security to SII's Network Security Product Line
LONDON, Nov 28, 2001 (BUSINESS WIRE) -- Baltimore Technologies (Nasdaq:BALT)
(London:BLM), a global leader in e-security, today announced that they have
entered into a strategic OEM agreement for Seiko Instruments Inc (SII) to sell
Baltimore's SureWare range of hardware security products in Japan. Under this
agreement, Baltimore has received an initial order from SII to the value of $1
million dollars. It is expected that this agreement could generate revenue of up
to $6 million for Baltimore over the next two years based on SII's sales
targets.
SII are recognised worldwide for their excellence in precision hardware. This
OEM agreement enhances SII's leadership in delivering best of breed solutions
and extends its network security portfolio, which already includes Japan's first
TimeStamp Service that authenticates the official time of the Internet
transaction in SEIKO(1) branded time. As part of the contract terms, SII will
sell SureWare in Japan under its own brand name, SII s-Keyper. In addition, as
SII is an established hardware vendor they are ideally positioned to provide
customers with 24 by 7 support and services. ((1)SEIKO is trademark of SEIKO
Corp.)
"This strategic agreement with Baltimore greatly enhances our network security
product set, enabling us to provide customers in Japan with one of the most
robust, tamper resistant e-security hardware products available today. We firmly
believe there is a strong market in Japan for such technology as hardware
security is an important element in any digital certificate based system for
secure, authenticated e-business. Baltimore Technologies has a strong position
in the Japanese market and are a market leader for Public Key Infrastructure
systems and therefore were the strongest vendor for this agreement. As part of
the OEM agreement, SII will invest engineering and sales and marketing time and
support to promote and sell s-Keyper in Japan. In addition, we will work closely
with systems integrators and PKI vendors to ensure s-Keyper is fully
interoperable with all complimentary solutions," said the Vice President Mr
Sigeru Yokono at Seiko Instruments Inc.
"This is one of the largest SureWare security deals we have completed and we are
very excited about the potential this partnership offers," said Rob Lane, Head
of Hardware Business Development at Baltimore Technologies. "Following an
in-depth review of the market, SII identified Baltimore SureWare as being
integral to their network security offering, enabling them to provide complete
security solutions to Japanese businesses. SEIKO's strong brand name and proven
expertise in hardware technology make them a perfect OEM partner for Baltimore
SureWare and this alliance is a strong endorsement of our technology and leading
market position."
Baltimore SureWare offers the most reliable, high-assurance security performance
of its class providing enhanced cryptographic security for use in Public Key
Infrastructure (PKI), SSL enabled web systems and VPN environments. It
incorporates Baltimore's Advanced Configurable Crypto Environment (ACCE) which
enables a wide range of secure hardware products to be developed from a common
base, speeding integration and assuring a high degree of scalability. In
addition, Baltimore SureWare has achieved the highest level of security
accreditation for hardware security modules namely FIPS 140-1 level 4 and ITSEC
E3, which allows SII to develop their own custom applications, utilizing an
independently accredited, high-assurance platform.
About Seiko Instruments Inc
Founded in 1937, SII is one of the world's leading watch manufacturers of the
SEIKO group. It is active in four main areas of business:
-- Wearable Electronics Devices (watches, electric dictionaries,
wireless communications equipment)
-- Industrial Systems (CAE/CAD/CAM systems, scanning probe
microscopes, analysis systems)
-- Network Components (LCD modules, CMOS-IC, micro batteries,
optical-fiber connectors)
-- e-Solutions (store automation systems, wireless credit card
authorisation systems, network security systems)
Corporate data:
Headquarters: Chiba-shi, Chiba, Japan
Established: 1937
2000 Sales: Y288.5 billion/$2.40 billion (consolidated)
Employees: 5,600
About Baltimore Technologies
Baltimore Technologies' products, services and solutions solve the fundamental
security and trust needs of e-business. Baltimore's e-security technology gives
companies the necessary tools to verify the identity of who they are doing
business with and securely manage which resources and information users can
access on open networks. Many of the world's leading organisations use
Baltimore's e-security technology to conduct business more efficiently and cost
effectively over the Internet and wireless networks. Baltimore also offers
worldwide support for its authorisation management and public key-based
authentication systems.
Baltimore's products and services are sold directly and through its worldwide
partner network, Baltimore TrustedWorld. Baltimore Technologies is a public
company, principally trading on London (BLM). For more information on Baltimore
Technologies please visit baltimore.com
Legal Notice
Certain statements that are not historical facts including certain statements
made over the course of this document may be forward-looking in nature. Such
forward-looking statements involve known and unknown risks, uncertainties and
other factors that may cause the actual results, performance and achievements of
the Company to be materially different from any future results, performance or
achievements implied by such forward-looking statements.
CONTACT: Baltimore Technologies
Amy Conefrey, 781/455-4282
amy.conefrey@baltimore.com
or
Denise Duffy, +353 1 881 6000
dduffy@baltimore.com
or
Traci St Lawrence, +61 2 8514 7454
traci.st.lawrence@baltimore.com
baltimore.com
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SOURCE:
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