(BSNS WIRE) Wave Systems Introduces Wave Direct E-Commerce Service for P
Wave Systems Introduces Wave Direct E-Commerce Service for PC Users; Hauppauge
Digital First To Implement Wave Direct Service on TV Receiver Boards
Business Editors/High-Tech Writers
SAN JOSE, Calif.--(BUSINESS WIRE)--June 1, 1999--Wave Systems
Corp.(Nasdaq:WAVX)(http://www.wave.com/company), a provider of
electronic commerce, content distribution and security services, today
announced the launch of its Wave Direct e-commerce service, which will
be incorporated in WinTV Theater Tuner Boards from Hauppauge Digital
Inc.(Nasdaq:HAUP)(www.hauppauge.com), the leading developer and
manufacturer of analog and digital video, TV, and data broadcast
receiver products for personal computers.
The Wave Direct service provides consumers with a convenient and
flexible way to buy electronic content such as software and music at
their desktop. Content purchasing models include pay-per-use,
rent-to-own and outright purchase. The Hauppauge Digital WinTV Theater
Tuner Board is the first product to incorporate the Wave Direct
service and will be available exclusively from CompUSA stores
nationwide this week.
"The debut of the Wave Direct service in Hauppauge's WinTV tuner
boards marks a milestone for the company and is a critical first step
in the deployment of our multi-channel content distribution network,"
said Steven Sprague, president of Wave Systems. "Wave Direct offers
the first glimpse into a future where users will have access to
convenient and flexible purchase options. Wave will continue to offer
new services that will revolutionize the secure delivery, access, and
use of electronic content."
Wave Direct is designed to benefit consumers, PC and peripheral
vendors and content providers. Consumers benefit from flexible
purchase options -- pay-per-use, rent-to-own -- and convenient at-home
shopping for a wide variety of electronic content. PC and peripheral
vendors directly benefit from an alternative revenue stream, superior
product differentiation, and extended customer relationships. Content
providers gain from secured copyright protection, flexible pricing
options, and lower distribution costs.
Hauppauge WinTV Theater Receiver Boards With Wave Direct
Available exclusively from CompUSA stores nationwide for a
suggested retail price of $149. The Hauppauge WinTV Theater Tuner
Boards will ship with Wave's e-commerce functionality embedded in the
product and a CD-ROM bundle of software titles from leading publishers
that can be purchased or rented securely using Wave Direct. The
e-commerce functionality in the chipset enables secure transaction
processing at the point of purchase -- the consumer's desktop. Wave
Direct users will be able to access the Wave Direct online store
(www.wave.com) to obtain additional software titles as they become
available.
"By partnering with Wave Systems to provide our customers with a
convenient, secure, and arguably revolutionary tool for accessing and
buying a wide range of software and digital content, Hauppauge is
offering our customers a very unique, innovative feature while
establishing at the same time a revenue stream that grows beyond the
point of purchase," said Ken Plotkin, Hauppauge Digital's CEO.
Wave Direct users simply load the bundled CD ROM's onto their PC
and then follow the Windows-based instructions for registering and
using the service. After their account is established users are free
to rent or buy any of the packaged software titles. When the consumer
uses any of the titles, money is debited from their account based on
their usage. Every penny spent in rental time is applied toward the
total purchase price. Once rental payments reach the retail price, the
software is owned outright.
Wave has been developing secure transaction and electronic
content distribution technology for over two years. Wave Direct is a
tangible part of Wave's overall strategy to facilitate the secure
distribution and sale of digital information by creating new
transaction and purchasing models derived from client-based e-commerce
technologies.
About Wave Systems Corp:
Founded in 1988, the mission of Wave Systems Corporation is to
create the world's best technologies and services to secure and sell
digital information. Wave's core EMBASSY technology is an inexpensive,
proprietary hardware and software-based device that enables secure
transaction processing and distributed information metering in users'
PCs. Embedded in PC hardware and peripherals, set-top boxes and other
devices, EMBASSY is the foundation for client-based security
applications and a new distribution and purchasing model for content
and services.
This low-cost, secure "system within a system" will enable the
personal computer to assume an important new role in the evolving
digital economy. By moving secure transactions to the desktop, Wave
provides intrinsic value to the electronic commerce process,
benefiting PC users, application developers, and hardware
manufacturers. For more information, please visit Wave's corporate web
site at 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.
About Hauppauge:
Hauppauge Digital, Inc. is the leading developer and manufacturer
of digital video TV and data broadcast receiver products for personal
computers. Through its Hauppauge Computer Works, Inc. subsidiary, the
Company designs and manufactures digital video boards for
TV-in-a-window, digital video editing and video conferencing. The
company is headquartered in Hauppauge, New York, with sales offices in
Germany, London, Paris and California. The company's Internet web site
can be found at hauppauge.com.
The forward looking statements included in this news release are
based on management's current expectations. In light of the
assumptions and uncertainties inherent in forward looking information,
the inclusion of such information should not be regarded as a
representation by the company or any other person that the plans of
the company will be realized or that positive trends in financial
results will occur.
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