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[January 28, 2013]
Wave Expands Global Distribution Channels Across Asia Pacific
(Marketwire Via Acquire Media NewsEdge) LEE, MA -- (Marketwire) -- 01/28/13 -- Wave Systems Corp. (NASDAQ: WAVX), the Trusted Computing Company, today announced an expansion of its distribution channel, highlighted by strategic agreements with Infodat Technologies in India; TechSearch Corp. in Korea; and Bangkok Systems & Software in Thailand. Wave is also expanding existing relationships in Singapore and other Asian-Pacific markets.
These new distribution partners are now authorized to offer their customers Wave's innovative solutions for data protection, data loss prevention, authentication, security compliance and malware protection.
"Today's cyber threats call for a unique and innovative approach, and one that builds on industry-standard hardware built directly into the endpoint. We're putting Wave's technology into the hands of top regional distributors whose relationships and trained service professionals offer a fast path to deployment," said Brian Berger, Wave's Executive Vice President of Business Development and Chief Marketing Officer."Infodat is well-anchored in the Indian market and has earned the trust of its extensive client base. TechSearch is the trusted partner for Korea's IT industry; and Bangkok Systems & Software provides seasoned professionals on the ground in Thailand." Under the terms of the agreements, Wave's distribution partners will offer both products and professional services. The distributors will offer Wave's EMBASSY® security software for managing hardware-based data protection and authentication, as well as the full Safend portfolio of products. Infodat Technologies has built a strong reputation in India and globally, providing technology services and business solutions for more than 16 years to help its clients innovate, automate information and optimize costs.
"The mass availability of external endpoint devices, and a lack of standards, makes many companies in a country like India even more vulnerable to data threats," said Rao Pallepati, President, Infodat Technologies India. "Therefore, it's critical for small and large organizations alike to include endpoint protection as part of their IT security strategy. We are excited to partner with a company like Wave and offer this security to our customers." TechSearch has strengthened the South Korean IT industry's competitiveness for more than 14 years by providing global software products and consulting services.
"Widespread use of smartphones and tablets has spurred the use of the wireless Internet, bringing new business opportunity and services, but this has also introduced new security issues," said Sooduk Shin, President & CEO of TechSearch Corp. "Wave's Safend Data Protection Suite of security software enables us to protect all corporate data not only on laptops, but also on tablets and other vulnerable devices." Bangkok Systems & Software Co. has served the Thai market since 1995.
"Bangkok Systems & Software has been a leading provider of security solutions for government and large enterprise in Thailand for more than 13 years," said Kris Nawani, International Business Manager of Bangkok Systems & Software. "Wave offers a unique, forward-thinking approach to cyber security that allows us to best serve the needs of the local market. We're also excited to showcase Wave's Trusted Computing solutions at the upcoming Cyber Defense Initiative Conference in February." About Wave Systems Wave Systems Corp. (NASDAQ: WAVX) reduces the complexity, cost and uncertainty of data protection by starting inside the device. Unlike other vendors who try to secure information by adding layers of software for security, Wave leverages the security capabilities built directly into endpoint computing platforms themselves. Wave has been a foremost expert on this growing trend, leading the way with first-to-market solutions and helping shape standards through its work as a board member for the Trusted Computing Group.
Safe Harbor for Forward-Looking StatementsThis press release may contain forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act), including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the company, its directors or its officers with respect to, among other things: (i) the company's financing plans; (ii) trends affecting the company's financial condition or results of operations; (iii) the company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Wave assumes no duty to and does not undertake to update forward-looking statements.
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