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WAVX -- Wave Systems Corp. Class A Com (1 Cent)
COMPANY NEWS AND PRESS RELEASES FROM OTHER SOURCES: Wave Systems on Winning Team with Operational Research Consultants, Inc. for U.S. GSA Blanket Purchase Agreement Award
LEE, Mass., Jan 10, 2006 (BUSINESS WIRE) -- Wave Systems Corp. (Nasdaq: WAVX - www.wave.com) announced today that the company is teamed with Operational Research Consultants, Inc. (ORC), a wholly owned subsidiary of WidePoint Corporation (OTC BB: WDPT), in connection with the first Blanket Purchase Agreement award issued under the new U.S. General Services Administration (GSA) "Authentication Products and Services" Category Special Item No. (SIN) 160 32, part of existing IT Schedule 70 (the "ORC ACES BPA"). The ORC ACES BPA is an indefinite delivery/ indefinite quantity (ID/IQ) program that has total ceiling value of $100 million.
Under the BPA award ORC will provide certified credentialing for identity management solutions to federal, state and local governments. In connection with an agreement between ORC and Wave, Wave expects ORC to provide federal government authorized Access Certificates for Electronic Services (ACES) capability, in combination with Wave's Embassy(R) Trust Suite secure software technology for use with compliant public key infrastructures. The terms upon which Wave will participate in the project are subject to the completion of a subcontract to be entered into between Wave and ORC.
The BPA recognizes ORC as a fully operational ACES and Shared Services Provider (SSP) as well as a provider of Homeland Security Presidential Directive (HSPD-12) products and services. Further, the BPA also recognizes the ORC team as the only provider of Personnel Identity Verification (PIV) ready solutions for HSPD-12 products and services. The combined products of ORC and Wave offer HSPD-12 ready solutions for both "logical" and "physical" security.
"ORC is working with Wave to make trusted computing solutions embedded with External Certificate Authority (ECA) and ACES digital certificates available to all branches of government," said Daniel Turissini, president of ORC. "The combination of Wave's Embassy software technology integrated with ORC's Trusted Third Party services provides another tool to ensure high levels of Information Assurance technologies in the ongoing efforts to protect personal information within the federal government."
"Authenticating a computer user into a network by using methods more secure than passwords is a continuing effort for network administrators within government and enterprises," said Steven Sprague, president and CEO, Wave Systems. "With the ORC ACES BPA, government administrators will now have easy access to Class 3 PKI certificates that can be used within a Trusted Computing-based framework: a network of personal computers secured by industry standard Trusted Platform Modules and Wave's powerful and secure software technology."
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 ability to forge partnerships required for deployment, changes in consumer and corporate buying habits, chip development and production, the rapid pace of change in the technology industry and other factors over which Wave Systems Corp. has little or no control. Wave Systems assumes no obligation to publicly update or revise any forward-looking statements.
All brands are the property of their respective owners
SOURCE: Wave Systems Corp.
CONTACT: Wave Systems John Callahan, 413-243-7029 jcallahan*wavesys.com or Jaffoni & Collins David Collins, 212-835-8500 wavx*jcir.com
Copyright Business Wire 2006
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KEYWORD: United States North America Massachusetts INDUSTRY KEYWORD: Technology Government Networks Software Other Technology Other Government SUBJECT CODE: Contract/Agreement
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