CTT, interesting story. They have a piece of a new encryption method said to be 100 times faster than RSAS. I don't think they can take over the market or anything but they may be a good buy out for somebody. Very few shares and breaking out.
Wednesday January 19, 1:28 pm Eastern Time
Company Press Release
CTT's Client, NTRU Announces Delivery of F@stWTLS-tm, the Fast, Low-Footprint, Wireless Security Solution for WAP
- NTRU and HCL Partner to Deliver Security Solutions for Wireless Data Market
FAIRFIELD, Conn.--(BUSINESS WIRE)--January 19, 2000-- - NTRU Joins the WAP Forum
Competitive Technologies, Inc. (AMEX: CTT - news) today confirmed the announcement of the development by its client, NTRU Cryptosystems, Inc. (NTRU) of F@stWTLS(TM), a fast, low-footprint wireless data security solution for the Wireless Access Protocol (WAP). F@stWTLS is an implementation of the WAP Wireless Transport Layer Security (WTLS) protocol using NTRU's patent-pending public key cryptography system. NTRU indicates its cryptography operates over 100 times faster than competitors such as RSA (NASDAQ:RSAS - news) and Certicom's (Toronto:CIC - news) Elliptic Curve Cryptosystem at equivalent security levels.
NTRU has also announced it will partner with HCL Technology America, Inc. (HCL) to provide solutions for the wireless data market. HCL will provide integration services for customers of NTRU'S F@stWTLS(TM) Wireless Access Protocol (WAP) product. HCL will also make available the NTRU public key cryptography system to its customers.
CTT has provided NTRU with a suite of custom incubation services to launch the company - including patent filings support, interim business management, technical marketing and public relations. In return, CTT has an interest in NTRU revenues. CTT has also been instrumental in forging strategic relationships for NTRU in order to raise funding and secure tools and applications partnerships worldwide, including orchestrating a licensing and investment deal with SONY Corporation of America (NYSE:SNE - news) on behalf of NTRU.
''We are quite pleased to see NTRU expand its new product line and market delivery relationships, said McPike. The relationship with HCL will provide clients with a complete wireless solution'', he continued.
F@stWTLS reduces device cost and increases battery life, said Jim Kotanchik, NTRU Vice President of Engineering. ''By utilizing fewer gates and fewer processor cycles, NTRU delivers high security at a lower cost. We believe these benefits are compelling to everyone in the wireless data market, from manufacturers to network operators and consumers.''
NTRU and HCL Partner
''Companies building wireless data solutions need skilled engineering and integration services,'' said Scott Crenshaw, NTRU Vice President. ''We are pleased to offer HCL's services to our customers. We can now deliver not just the best security products available, but the best engineering services, too. HCL is our development partner for F@stWTLS and is well positioned to be the integrator of choice for wireless data solution providers.''
''We are very pleased to partner with NTRU,'' said Raj Sirohi, President HCL Technologies America, Inc. ''HCL has world class development teams skilled in the wireless data technology, including protocols such as Wireless Access Protocol (WAP). We are very excited about helping companies realize the benefits of NTRU's F@stWTLS, and can help them integrate and deploy their solutions quickly.''
WAP Forum
NTRU has also announced its membership in the Wireless Application Protocol (WAP) Forum. The WAP Forum supports the development of open standards enabling mobile users to easily access Internet information and services via mobile telephones, pagers, personal digital assistants (PDAs) and other wireless devices.
According to the WAP Forum, the number of mobile phone subscribers is expected to reach 500 million worldwide by 2003, and by that time 75 percent of all mobile phones will be Internet- enabled.
''Wireless devices are the next generation of information access appliances,'' said Scott Goldman, WAP Forum CEO. ''As the number of wireless transactions increases and as high-value content, such as music and video, is delivered with wireless networks, both users and content providers need security. The WAP Forum provides a vehicle for companies throughout the wireless industry to drive security standards.''
The WAP Forum is an industry association that has developed the de-facto world standard for wireless information and telephony services on digital mobile phones and other wireless terminals. Handset manufacturers representing 95 percent of the world market across all technologies have committed to shipping WAP-enabled devices. Carriers representing more than 100 million subscribers worldwide have joined WAP. WAP Forum membership is open to all industry participants. For further details on the Forum and its members, please visit the Forum's Web site at www.wapforum.org.
NTRU is currently participating in the RSA Conference 2000 in San Jose, CA.
About Competitive Technologies, Inc.
Competitive Technologies is a global leader in identifying, developing and commercializing innovative life sciences, physical sciences and digital technologies. Competitive Technologies' specialized expertise and experience make it a valuable partner for companies and universities of all sizes. CTT has been responsible for closing hundreds of licensing agreements. CTT clients include: SONY, Lucent Technologies, Matsushita Electric Industrial and Ribozyme Pharmaceuticals, Inc. Competitive Technologies, Inc. is based in Fairfield, Connecticut and has affiliates in Osaka, Japan and London, England.
Statements about the Company's future expectations, including development and regulatory plans, and all other statements in this document other than historical facts are ''forward-looking statements'' within the meaning of applicable Federal Securities Laws and are not guarantees of future performance. These statements involve risks and uncertainties related to market acceptance of and competition for the Company's licensed technologies and other risks and uncertainties inherent in CTT's business, including those set forth in Item 1 of the Company's Form 10-K for the year ended July 31, 1999 and other factors that may be described in CTT's filings with the SEC, and are subject to change at any time. The Company's actual results could differ materially from these forward-looking statements. The Company undertakes no obligation to update publicly any forward-looking statement.
Direct inquiries to: Mr. John Fitzpatrick Competitive Technologies, Inc. 1960 Bronson Road P.O. Box 340 Fairfield, CT 06430 (203) 255-6044 (203) 254-1102 (fax) CTT@CompetitiveTech.net www.CompetitiveTech.net
Johnnie D. Johnson Strategic IR (212) 754-6565
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Contact:
Competitive Technologies, Inc.
Mr. John Fitzpatrick, (203) 255-6044
CTT@CompetitiveTech.net
www.CompetitiveTech.net
or
Strategic IR
Johnnie D. Johnson, (212) 754-6565
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