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Technology Stocks : WAVX Anyone? -- Ignore unavailable to you. Want to Upgrade?

To: tony 890 who wrote (1477)	3/25/1998 6:55:00 AM
From: andrew peterson	Read Replies (4) \| Respond to of 11417

Wave Systems Recruits Former IBM Executive Lark Allen to Head Secure Networks Effort LEE, Mass.--(BUSINESS WIRE)--March 25, 1998--Wave Systems Corp. (OTC BB:WAVX; wave.com today announced that Lark Allen, 52, has been named Vice President, Secure Networks, a newly created position at the firm. Allen will be responsible for developing strategic relationships with particular emphasis on marketing the unique security capabilities of Wave's core technology, the WaveMeter(R). ''During the course of the last six months, a number of Wave's partners and potential partners have expressed interest in the potential business-to-business and security applications for our WaveMeter technology,'' said Steven Sprague, president of Wave. ''Lark Allen has tremendous relevant experience making him ideally suited to pursue this business opportunity which expands the role and leverages the unique capabilities of the WaveMeter.'' Prior to joining Wave, Allen was employed for over 27 years at IBM Corporation, where he last served as director of Worldwide Market Strategy and Marketing Support of IBM's Networking Division. Allen's responsibilities included the networking of IBM's hardware and software brand strategy, product planning and market analysis of this global multi- billion dollar business. From 1991 to 1992, Allen was the Director of North American Networking Sales where he led the marketing activities of IBM's sales, networking and technical specialists in surpassing their annual revenue objectives. From 1990 to 1991 Allen worked in IBM's Consulting and Systems Integration area where his business unit achieved revenue growth of more than 400% over two years. During his tenure at IBM, he also held a variety of management and line positions in sales, marketing, support and development. Allen holds a Master of Science in Industrial Administration from Purdue University where he was a DuPont Fellow as well as a Krannert Scholar. He also holds a Bachelor of Science in Physics from Brigham Young University. Commenting on the appointment, Peter J. Sprague, chairman and chief executive officer of Wave, said, ''Lark Allen has an impressive record of accomplishment and an enviable base of industry and worldwide relationships built over almost three decades at IBM. Lark's marketing expertise and relationships are particularly valuable to Wave as we continue to expand our base of support for the WaveMeter technology.'' Allen stated, ''I am impressed with Wave's unique approach to providing secure content distribution, metering and transaction processing, as well as the exciting new cryptographic capabilities afforded by the WaveMeter. Wave provides key technologies for today's electronic commerce solutions as well as the broadband networking opportunities of tomorrow. I look forward to joining an organization of such potential and contributing to its future success.''