Monday November 9, 6:34 am Eastern Time
Company Press Release
ITE to Embed Wave Systems Corp's
EMBASSY Technology Into Integrated
Circuits
Agreement Creates PC Chip Implementation of EMBASSY Technology Allowing for
Mass Deployment
SAN JOSE, Calif.--(BUSINESS WIRE)--Nov. 9, 1998--Wave Systems Corp. (OTC BB:WAVX - news;
wave.com) today announced a technology license agreement with integrated circuit supplier Integrated
Technology Express, Inc. (ITE).
This agreement will allow ITE to incorporate Wave Systems' EMBASSY (EMBedded Application Security SYstem)
technology into a variety of ITE's integrated circuit (IC) products, including chips for peripherals, Windows CE and Super
I/O (input/output) devices, which are a fundamental component of personal computers.
Engineering and integration efforts related to the agreement are underway, and initial prototypes are expected in the second
quarter, 1999 with commercial availability expected in the third quarter, 1999.
ITE is currently working with a number of OEM customers who plan to integrate this technology into their platforms. The
EMBASSY system is an open, programmable, standards-based platform that will allow the software industry to develop
secure PC-based, e-commerce applications.
''Since Wave's announcement of the EMBASSY product last month, we have received great interest from our customers
requesting this type of technology in an easy-to-implement solution,'' said Daniel Chen, Chairman and CEO, Integrated
Technology Express, Inc.
''Our customers will gain added product differentiation as well as the ability to participate in ongoing revenue from the sales
of digital content through their hardware.''
ITE is a fast growing ''fabless'' semiconductor design house that dominates nearly 25% of the worldwide Super I/O
market. The company's peripheral product line designs and markets cost-effective peripheral devices which include a
full-range of Super I/Os, LPC (Low-Pin Count) I/Os and other peripheral chips for PC applications.
Additionally, ITE participates in Windows CE business development with Microsoft. These activities include both
hardware and software development, which support Microsoft Windows CE initiatives.
''EMBASSY provides inexpensive, powerful and manageable security combined with digital metering capabilities built into
PCs and other end-user devices,'' said Steven Sprague, Wave Systems President. ''Through ITE, we are able to reach
millions of end-user devices from a single IC supplier.''
EMBASSY Benefits
-- The OEM community will gain product differentiation as well as
participate in revenue from the sale of digital content through
their hardware.
-- The PC software community can benefit from a new distribution
platform, flexible pricing models and security inherent in
trusted-client technology.
-- Consumers utilizing the EMBASSY technology will be able to
quickly and conveniently purchase, pay-per-use or rent-to-own top
entertainment, education and software titles directly from their
PCs.
Moreover, EMBASSY is compatible with content distribution channels, including the Internet, cable television,
Data-Broadcast, CD-ROM, or DVD, while also providing the needed end-user content and subscriber management system.
Consumers receive the flexibility of paying for information based upon their actual usage, while publishers benefit from
significantly reduced marketing and distribution expenses and the ability to reach a much broader base of end-user target
markets.
Sprague further commented, ''We are pleased with ITE's commitment to integrate the EMBASSY into many IC products,
which will allow for the broad distribution of Wave's technology.''
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.
About ITE
ITE was founded in 1995, and is headquartered in Hsin-Hsu City, Taiwan with a subsidiary in Santa Clara, Calif. and
sales offices in Taipei, Taiwan, and Round Rock, Texas. The company is in the business of designing and selling
high-integration chips that allow engineers to design compact and low power products.
The company has expertise in the areas of computer core-logic, peripherals, LCD VGA and power management. ITE is also
an official Microsoft System Integrator and a Distributor for Windows CE in Taiwan.
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 (Wave Media Contact)
feigina@fleishman.com
or
Jaffoni & Collins
David Collins, 212/835-8500 (Wave Investor Contact)
WAVX@jcir.com
or
Integrated Technology Express
David Lin, 408/980-8168 ext. 238
davidlin@iteusa.com |
