THE WAVE ANNOUNCEMENT DESERVES TO BE ON OUR THREAD
HERE IT IS:
> > >Tuesday October 27, 6:33 am Eastern Time
Company Press Release
Wave Systems Announces New Technology Enabling
Secure Electronic Commerce Transactions in the PC
Aladdin Knowledge Systems, HP, ITE, RSA Data Security, SMSC, Sun
Microsystems and VeriSign, To Deliver EMBASSY E-Commerce System for PC Platform
SAN JOSE, Calif.--(BUSINESS WIRE)--Oct. 27, 1998-- Enabling the personal computer to assume a
strategic new role in the
evolving digital economy, Wave Systems (OTC BB:WAVX - news) today announced broad industry
support of the
EMBASSY E-Commerce System. The EMBASSY (EMBedded Application Security SYstem) E-Commerce
System is the
first ''trusted-client'' system designed for a wide range of client devices such as PCs, set-top boxes, hand held
devices and
peripheral cards. The trusted-client system is an open, programmable, standards-based platform that will
allow the software
industry to develop secure PC-based, e-commerce solutions. The trusted client provides a robust security
platform in the PC,
which can be used to enable a broad range of new security capabilities. These include secure storage of
electronic identities,
digital signatures, and the ability to run secure applications.
The technology, jointly developed with Hewlett-Packard Company [NYSE:HWP - news]'s VerSecure
product team, uses
technologies from industry leaders in security hardware and software to create a protected, programmable
environment where
electronic commerce transactions can be performed safely and flexibly.
The EMBASSY system will be implemented on motherboard chip sets manufactured by Standard
MicroSystems
Corporation and ITE. This system will support a robust application environment for creating secure
applications and
e-commerce solutions. The trusted-client platform provides a comprehensive set of security, application and
system services
that will allow enterprises, software developers and others to build and deploy secure services and
applications.
The EMBASSY E-Commerce System will enable the creation of dramatic new electronic distribution
channels and flexible
purchase options for content and software. The Wave Systems' WaveMeter Transaction system is
integrated into
EMBASSY. The incorporation of the transaction system in the PC enables any digital content to be
distributed by any
network or media and purchased in the user's device. The inclusion of security embedded in the client device
allows a broad
range of payment methods including rent, rent-to-own, or pay-per-event for any type of digital content.
Today's secure electronic commerce transactions are typically performed on centralized servers and require
multiple layers of
firewalls, network security and remote authentication of the user's identity in order to be processed.
EMBASSY technology,
embedded in the user's PC hardware, provides an inexpensive solution for security that is more secure than
today's
approaches. This solution increases user flexibility and vastly simplifies secure transactions.
''This is a milestone for Wave. Over the past six months we have expanded the Wave transaction and
security architecture to
provide a robust platform for secure computing, have architected a low cost chip set solution with multiple
suppliers, and
gained support from key partners in security, smart card and content markets. Our strategy of initiating the
market with
trusted-client PCs for e-commerce has taken a major step towards completion,'' said Steven Sprague,
President of Wave
Systems. ''We have created an open solution for the PC industry which is now also being supported by key
PC OEMs.''
HP's VerSecure security framework provides EMBASSY with the flexibility of hardware-based, strong
encryption that can
be exported and utilized internationally. NEC Computer Systems Division is strongly committed to
integrating Wave's
EMBASSY chip into its corporate desktop systems. Sun Microsystems and RSA will provide software and
encryption
technologies to enable a broad range of secured electronic commerce applications.
''Wave Systems' architecture is fundamental to the trusted client, and we are pleased to be partners in
bringing this
technology to market,'' said Doug McGowan, head of HP's VerSecure program. ''The EMBASSY
E-Commerce System
implementation of the trusted client is an ideal deployment vehicle for electronic-commerce applications.''
''Wave Systems has developed a silver bullet with its new EMBASSY chip because it enables a virtually
no-maintenance
security and content metering platform that is embedded within the client. This is welcome news to our
enterprise
customers,'' said Amod Patwardhan, Director of Product Strategy and Integration, NEC Computer Systems
Division.
EMBASSY System Partners
EMBASSY is the cooperative result of integrating advanced technologies from leading players in the
computing and security
industries, including the following:
-- Aladdin Knowledge Systems: Software execution and data protection
solutions.
-- HP: VerSecure security management framework for controlling
cryptographic functions, allowing a single worldwide solution for
exportable strong cryptography.
-- ITE: Hardware implementations of the EMBASSY "system within a
system" technology to be embedded on chips for the PC
motherboard.
-- RSA Data Security: Cryptographic and Security protocol component
software for protecting transmission and storage of digital
content.
-- Standard MicroSystems Corporation (SMSC): Providing a "Zero
Silicon Footprint" starting point for the EMBASSY System hardware
on the PC Motherboard by embedding this technology into Super
I/O, peripheral and systems logic chip-sets.
-- Sun Microsystems: Java Card application framework for development
of Java applications, including financial and Smart Card
application extensions.
-- VeriSign: Digital certificates for industry standard electronic
identification of devices, applications, and users.
Please see attached Industry Statements of Support. For more information about EMBASSY, including its
business partners,
please visit the Web site at wave.com.
Note to Editors: In a separate announcement made today, HP and Wave Systems announced the joint
development of the
trusted-client system, which is the base technology for the EMBASSY E-Commerce System.
EMBASSY E-commerce System Industry Statements of Support:
NEC:
''Wave Systems has developed a silver bullet with its new EMBASSY chip because it enables a virtually
no-maintenance
security and content metering platform that is embedded within the client. This is welcome news to our
enterprise
customers,'' said Amod Patwardhan, Director of Product Strategy and Integration, NEC Computer Systems
Division. ''NEC
plans to ship the EMBASSY system in selected PC models in 1999.''
Sun:
''Java technology was designed to provide a robust application platform which creates the 'Write Once, Run
Anywhere(TM)' capability across a broad range of devices,'' said Patrice Peyret, Director, Sun
Microsystems' Consumer and
Embedded Software. ''The capabilities of the Java Card platform will give the EMBASSY architecture an
open,
standards-based solution for security and smart card applications.''
SMSC:
''The PC industry has been seeking to create a new role for the PC platform within the evolving network
based commerce
model,'' states Robert Hollingsworth, VP of Marketing, SMSC. ''Embedding the EMBASSY system on the
PC motherboard
at the appropriate cost, provides the capability for new services and secure electronic transactions in the
platform.''
RSA:
''The EMBASSY system, combined with RSA's family of cryptographic and security protocol component
software
provides the foundation for securing a wide range of hardware products, including PCs, set top boxes and
communications
devices,'' said Al Sisto, chief operating officer of RSA. ''We are excited about the opportunity to work with
Wave Systems
and its partners to bring a new generation of trusted commerce products to market.''
ITE:
''The significant additional value EMBASSY brings to the PC platform will be of interest to every PC vendor
in the
industry,'' said Daniel Chen, Chairman and CEO, Integrated Technology Express, Inc. ''Wave Systems has
provided a unique
business and deployment model which will help facilitate this technology integration into millions of
platforms.''
Aladdin:
''We are pleased about continuing our relationship with Wave Systems,'' said Yanki Margalit, president and
CEO of Aladdin
Knowledge Systems. ''The Aladdin HASP technology, integrated in the EMBASSY provides the industry's
strongest
protection for software and digital content.''
About Wave Systems Corp.
Founded in 1988, the mission of Wave Systems Corporation is to create the world's best technologies 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.
Contact:
Wave Systems Corp.
Kent W. Kappen, 408/261-9510
kkappen@wavesys.com
or
Fleishman-Hillard
Aaron Feigin, 415/356-1033
feigina@fleishman.com
or
Jaffoni & Collins
David Collins, 212/835-8500< < <
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Steve
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