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Diversinet and Nobil IT Establish Strategic Partnership to Provide Secure Electronic Commerce Solutions
TORONTO, Ontario--(BUSINESS WIRE)--Jan. 5, 1999--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 strategic partnership and agreement with Nobil IT, an electronic-commerce solution provider. Nobil IT was chosen in 1997 to provide secure Internet payment solutions jointly with the Canadian Imperial Bank of Commerce, CIBC, one of Canada's largest banks.
Under the terms of the agreement, Nobil IT will license and incorporate Diversinet's Passport Certificate Server product into the Nobil IT electronic commerce suite of business solutions which will be offered to Nobil IT's customer base, namely, businesses and financial institutions selling products and services over the Internet that are seeking to achieve network security solutions. Diversinet will be paid an undisclosed license fee per user.
"This strategic alliance allows us access to Diversinet's Passport Certificate solution which offers a uniquely small footprint--making it ideal for use in smart cards. As it is our strategic direction to continue building our position as a leading e-commerce solution provider, the quick on-line authorization the Diversinet technology generates will help us to better serve the security needs of our clients. Our combined technologies form a powerful certificate-based security solution for standard payment protocols such as credit/debit cards and smart cards," said Erik Hagman, Vice President Gateway Services, Nobil Information Technology Company.
The Diversinet Passport Certificate Server issues digital certificates on demand to authenticate users to business applications, which run on corporate networks, wireless environments, and the Internet. The Certificates contain no personal information, ensuring anonymity.
"We are very proud of this new licensing agreement with Nobil IT. We anticipate building this relationship as other financial institutions and merchants worldwide continue to explore opportunities in the burgeoning on-line transaction marketplace," says Mr. Nagy Moustafa, President and CEO of Diversinet. He continued, "This deal builds upon our objectives of signing licensing agreements with premier companies seeking secure transactions. At the same time we plan to continue establishing strategic alliances with companies that can create further awareness of the unique security solutions offered by Diversinet. " |
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