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Diversinet and Oasis Technology Sign License Agreement; Joined Product Suite to Secure Open Internet Systems for Financial & Business Systems Worldwide
TORONTO--(BUSINESS WIRE)--Oct. 28, 1998--Diversinet Corp. (Nasdaq Small Cap:DVNTF) (CDN:DVNT) a leading technologies provider for authentication and authorization security for digital communications and electronic commerce over corporate networks, the Internet and telecommunications systems, today announced that it has entered into a licensing agreement with Oasis Technology, a worldwide leading developer and marketer of electronic transaction processing and E-commerce payment software solutions for financial institutions, service providers and retailers worldwide.
Under the terms of the agreement, Oasis and Diversinet will work together with a view to incorporate Diversinet's Passport Certificate Server product into the Oasis Technology IST (Information Switching Technology) suite of business solutions.
Oasis Technology's IST suite of business solutions provides a wide range of E-commerce and electronic payment processing within intranet and internet systems and certified access to major international networks for worldwide clients such as MasterCard, VISA, Diners Club, and Europay. Oasis E-commerce solutions now include complete services for PC banking, SET(TM) Payment Gateway, and OFX (Open Financial Exchange). Oasis solutions are currently installed in more than 65 countries worldwide.
"As businesses expand worldwide, companies must turn to vertical solutions designed to cut the costs of expensive telecommunication-oriented, closed, network systems. These solutions, which include electronic commerce, electronic fund transfer, automated teller machines (ATM), point of sale systems, and electronic data interchange, require systems that allow instant, secure, worldwide access to funds and information," says Ashraf Dimitri, President & CEO of Oasis Technology, Ltd. "As our client base of financial institutions, service providers and retailers moves into the Internet marketplace to capitalize on global customer access and lower costs, additional security measures become essential. We are looking to the Diversinet Passport Server to provide those solutions, while maintaining privacy, integrity and simplicity," added Mr. Dimitri.
The Diversinet Passport Certificate Server provides the foundation for enabling secure transactions from within business applications. The certificate server issues digital certificates on demand to authenticate users to business applications, which run on corporate networks, wireless environments, and the Internet.
"Entering this agreement with Oasis is very exciting. Their worldwide presence keeps them abreast of industry trends and requirements. We anticipate that this relationship will create more opportunities for Diversinet to grow on an international basis. Oasis has an excellent reputation worldwide for being a reliable, full service supplier of on-line transaction processing systems," says Mr. Nagy Moustafa, President and CEO of Diversinet. He continued, "Oasis offers Diversinet a solid international customer base which will benefit from the additional security that our Passport Server offers the on-line transaction processing marketplace." |
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