Wave Systems Corp. (NASDAQ:WAVX): Collaborates With Widepoint Corporation


Dallas, Texas 05/19/2014 (FINANCIALSTRENDS) – Wave Systems Corp. (NASDAQ:WAVX), a leading TPMs (Trusted Platform Modules) managing company, recently announced a collaboration with a major provider of MMS (Managed Mobility Services), WidePoint Corporation (NYSEMKT:WYY). This collaboration will enable WidePoint Corporation to secure digital certificates within a TPM on customer devices as it will protect the certificate private key within hardware.

WidePoint’s Certificate-on-Device ensures that only authorized devices connect to its infrastructure and thus enables greater network security than user authentication alone. TPM is capable of protecting certificate private keys with a high level of network security and virtually every business laptops and PCs today are being shipped with a TPM chip, mentions the Trusted Computing Group.

Executive Comment:

Chief Executive Officer of Wave Systems Corp. (NASDAQ:WAVX), Bill Solms expressed that TPM is the best possible way to secure device identities for networks and through this collaboration with Wave, the company gets another means to deliver best-in-class “federated” identity solution that will allow organizations to define levels of access by knowing which devices are seeking network access and determining which users and devices are trusted.

Chief Technology Officer of WidePoint Corporation (NYSEMKT:WYY), Dan Turissini commented that Wave’s unique technology will enable an expanded distribution of a “federated” identity solutions quickly as well as on a large scale.

Company Brief:

Wave Systems Corp. (NASDAQ:WAVX), unlike traditional software for network security, offers security solution right inside the device and hence reduces cost, complexity and uncertainty associated with data protection. Built-in security capabilities into endpoint computing platforms themselves, well positions the company to leverage its hardware security capabilities against tradition vendor who offers to add layers of security software. The company is essentially leading this growing market trend by offering “first to market” solutions and also contributes significantly as a board member for the Trusted Computing Group to share security standards.

Stock Update:

On Friday, the stock of Wave Systems closed at $1.46, gaining 6.57% from its previous close.