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Bad news for tech:
Intel warns of sharply lower revenue
By The Associated Press
5:25 PM (GMT-05:00) Eastern Time (US & Canada) Nov 12, 2008
SANTA CLARA, Calif. (AP) _ Intel Corp. sharply cut its fourth-quarter sales projection Wednesday, indicating just how severely technology spending is being slammed to a halt in the economic turmoil.
The chip maker now expects revenue to come in at about $9 billion, down from a previous estimate of $10.1 billion to $10.9 billion, as personal computer makers look to cut back on their parts inventories.
Analysts polled by Thomson Reuters expected $10.3 billion, on average.
In response, Intel said it expects to cut spending on research and acquisitions to $2.8 billion in the fourth quarter, down from the previously expected $2.9 billion.
Earlier Wednesday, the research firm IDC predicted that worldwide technology spending will slow significantly in 2009. One strong signal came last week from Cisco Systems Inc., which was the first of the major technology companies to report earnings that included October and warned that orders dropped off abruptly during the month.
How to implement network access control
Author: Chris Boscolo Posted: 08:25 12 Nov 2008 Topics: Security | IT Management In spite of the billions of dollars spent each year on IT security, companies still suffer data leaks, security breaches, and virus outbreaks, writes Chris Boscolo, CTO and founder of Napera Networks.
Today's security challenges come both from the changing threat environment but also from changes in how we work. Mobile working is now the norm rather the exception. Many employees use their company laptops for both business and personal use. While this is a boon to productivity and work-life balance, it also means we are in danger of losing control of corporate IT assets.
Traditional security solutions, such as firewalls, anti-virus, anti-spyware, patch management, or VPNs are no longer sufficient to keep the threats off the network. While these play a vital role, companies are still dealing with devices connecting to the network with unpatched software, out-of-date anti-virus and improper security settings. Not keeping devices up to date is probably the largest hole in the security fight today.
ADVERTISEMENT What is network access control?
Network access control (NAC) products entered the market a few years ago to fill this gap. A typical NAC solution provides an endpoint assessment of the computer and then enables access and enforces security policy based on the state of the computer and the identity of the user.
Early NAC solutions were expensive and complex and targeted at the large enterprise market. But even for those companies with budgets and IT staff to manage NAC, the deployments often failed or stalled. This was due to complexity, the lack of interoperability and proprietary technologies used in the NAC solutions.
Interoperability
Cisco, Microsoft, and the Trusted Computing Group (TCG), a consortium of suppliers, proposed alternate frameworks and interoperable architectures in an attempt to overcome this hurdle. Today, NAC is moving toward more standards-based protocols.
TCG developed its Trusted Network Connect (TNC) framework with the sole goal of implementing standards around NAC. In addition to this, the Internet Engineering Task Force (IETF) has a working group focused on having these same NAC protocols standardised.
The biggest boon to NAC has been Microsoft and its Network Access Protection platform and protocols. Under NAP Microsoft is interoperating with other vendor solutions, and encouraging partners to develop agents and tools to enable NAP to communicate with non-Windows devices as well as competing policy servers. Partners have responded by developing Macintosh and Linux NAP agents.
NAP was slow out of the gate because of the long adoption cycle for Windows Vista and Windows Server 2008, which holds the policy enforcement engine for Microsoft's NAP platform. But the NAP agent for Windows XP was in Service Pack 3, released worldwide earlier this year. As a result, the NAP agent is expected to be available to some 80% or more of Windows laptops, by the end of 2008.
One key benefit of NAP is that any anti-virus vendor that reports status via Windows Security Centre will also be capable of reporting status via NAP. Most of the anti-virus products work with NAP, and hopefully all of them will. (You can see a current list here: http://www.napera.com/PDF/Napera-Microsoft-NAP-Compatibility-List.pdf )
Getting started
NAC has come a long way in the past year. But how do you get started?
If you are mostly a Windows shop, then Microsoft NAP would be a good place to start. If you are a smaller organisation, then you don't need Windows Server 2008 but can use a network appliance to enforce policies and directly communicate with the Microsoft NAP agent. If you have Macintosh or Linux computers, then you need to look for cross-platform support.
There is much debate about where to enforce NAC, but I believe that the best place is at the network layer (layer 2 or 3). There are now several NAC appliances that are relatively easy to deploy and manage.
Also, it's best to find a solution that provides centralised management for both employee and guest accesses. Mobile employees pose a huge risk to your network, but visitors, partners or suppliers working on site bring an even greater danger, since you have no way to manage those devices.
A good NAC solution should enable you to provide guests with controlled and safe access either to the internet or a select group of printers or network resources, without exposing the rest of the network.
It is useful to be able to implement NAC in phases, so you aren't disrupting your network or your workers or creating a burden for your help desk.
Your first task is to monitor your environment. Gather the information you need and understand what is actually happening with devices on your network. Many IT managers are shocked by what they find. One IT manager discovered he had several virtual machines on his network he was unaware of another found that more than half of the laptop computers were not running the latest security patches yet another found their desktop security suite was incorrectly configured and that all of their desktop firewalls were disabled.
This insight into your network is one of the greatest benefits of NAC. While few companies deploy NAC for this reason, it is always the first thing IT staff notice and appreciate. Never before have they been able to have this central view of every device on the network and, importantly, the security status of those devices. One of our customers, Bakha Nurzhanov, co-founder and CTO of Design Clinicals, a Seattle-based healthcare IT firm, said, "It was like having a microscope over my entire network,".
Authentication
In spite of your efforts, employees often ignore the rules. Even with NAC, you need to think about authentication of both devices and users. For example, many companies are now using Wi-Fi access points to provide easy wireless access to the corporate network, but they forget to add the necessary security. The problems with WEP wireless encryption are well documented, and WPA provides a reasonably secure alternative. But in our recent survey of 40 small and medium enterprises, more than half used a shared password for all wireless access.
Regardless of your choice of encryption, this is an obvious Achilles heel because individual users cannot easily be identified and any change to the shared password creates massive disruption. Identifying wireless users and dealing with changing a shared password regularly is one task that makes wireless access a management nightmare.
A more secure way to do Wi-Fi is to use WPA Enterprise. This requires every user to authenticate with his or her own username and password when connecting. Although initial setup of WPA Enterprise can be difficult, the day-to-day burden of changing a shared password is eliminated. WPA Enterprise also means you can give guests access by creating a guest user.
I have yet to meet an organisation that didn't have at least one computer on their network that was out of compliance or that presented a direct threat to the network. No matter what they have, if they don't have a way to check devices before they access the network, they risk having a virus or other threat spread across the company.
While you may not be able to control everything your employees do, you can take control back of mobile computing and implement better policies and technologies that make sure all devices accessing the network are healthy and secure.
RSA Conference Europe Showcases the Latest in Information Security in Annual Gathering
Industry Leaders Meet in London to Share Strategies to Manage the Next Generation of Security Threats and Issues
Last update: 8:11 a.m. EST Nov. 12, 2008
LONDON, Nov 12, 2008 (BUSINESS WIRE) -- News Facts:
RSA(R) Conference , the world's leading information security conference, concluded its 9th annual event at ExCeL London on 29th October, 2008. The Conference attracted an audience of international industry experts, senior executives, security professionals, developers, architects and vendors from more than 50 countries.
RSA Conference Europe 2008 highlights included:
-- Keynote speakers included Richard Thomas, Information Commissioner, UK, and Bruce Schneier, Security Technologist and Chief Technical Officer, BT Counterpane.
-- Other keynote speakers were:
-- Baroness Neville-Jones, Shadow Security Minister, UK;
-- Art Coviello, Executive Vice President, EMC Corporation and President, RSA, The Security Division of EMC;
-- Ken Silva, Chief Technical Officer, VeriSign; and
-- Dr. Herbert H. Thompson,Chief Security Strategist, People Security.
-- RSA Conference Europe included more than 70 sessions across the following 10 tracks: Business of Security; Developers & Applications; Governance; Hosts; Hot Topics; Networks; Professional Development; Research & Threats; Security Services; and Sponsor Case Studies.
-- An exhibition featuring new product innovations from 40+ world-class service and technology vendors, including Fortify Software, Integralis, MXI Security, Omada A/S, Optenet, phion AG, SanDisk, Tripwire, Trusted Computing Group, VeriSign, RSA, The Security Division of EMC and WinMagic Inc.
-- 20+ Special Interest Groups (SIGs) offering interactive and hands-on debating forums on topics such as Identity & Access Management Governance, Security Awareness and Social Networking, and What Works and Doesn't Work in Fighting Online Fraud.
Quotes attributable to Tim Mather, Chief Security Strategist, RSA Conference
"Organisations today have to deal with a far wider and far more sophisticated variety of security risks than ever before. From attacks on corporate identity and data theft to Trojans, worms or other malware, the threat landscape is constantly evolving as would-be cyber-criminals find new ways to infiltrate corporate networks and computing devices. The challenge for security professionals is to keep pace with industry developments and innovations in order to stay one step ahead of the 'bad guys'."
"RSA Conference Europe is the place where industry leaders meet to discuss the changing threat landscape and share strategies, approaches and new services that will secure the organisations of the future."
Quotes attributable to Linda Lynch, RSA Conference Europe Manager
"The Conference is now in its 9th year and once again received strong ratings for its content from delegates. The Conference has a strong and varied programme that remains its key differentiator from other security events. The number of 'Full Conference' delegates was up 6% on the previous year, showing the Conference's continued growth as Europe's premier forum for information security professionals."
"RSA Conference Europe's interactive environment and networking opportunities are repeatedly praised by our attendees and we will continue working hard to facilitate the best debates in the industry. Thanks to all speakers, sponsors and exhibitors, who helped make RSA Conference Europe 2008 the most insightful and interesting event yet."
"We will be looking for a stellar cast of speakers once again for RSA Conference Europe 2009, which takes place on 20th -- 22nd October 2009 at ExCeL London. The call for papers will open in February next year."
Multimedia and supporting materials:
RSA Conference Europe 2008 photos:
http://www.rsaconference.com/2008/Europe/For_Press/Press_Photos.as px
RSA Conference Europe 2008 podcasts:
https://365.rsaconference.com/blogs/podcast_series_rsa_conference_ europe_2008
RSA Conference Europe 2008 presentation slides:
http://www.rsaconference.com/2008/Europe/Agenda/Presentation_Acces s.aspx
But even though Seagate omitted mention of TPMs yesterday,
there's no reason to believe its new Momentus drives would not support them, because its current models up to 120 GB do.
http://www.betanews.com/article/Hitachi_answers_Seagate_with_its_own_halfterabyte_selfencrypting_HDD/1226422039
Hitachi answers Seagate with its own half-terabyte self-encrypting HDD
By Scott M. Fulton, III, BetaNews
November 11, 2008, 11:57 AM
In a week where all electronics manufacturers are considering how to tailor their value propositions for the demands of the new economy, Hitachi GST is not one to be left behind.
Just one day after Seagate's announcement that it will be introducing self-encrypting half-terabyte hard drives to the notebook market, Hitachi's Global Storage Technologies division is announcing its own entry in that category. For the past four years, Hitachi has been answering Seagate's Momentus series with its own Travelstar; and in this particular case, Hitachi has chosen to merge its low-power "green" focus with its secure and trusted campaign.
Though the announcements are one day apart, here is one principal difference: Hitachi is focusing on the half-terabyte design, which is promises to ship by the first quarter of next year. Seagate meanwhile is rolling out its design with 320 GB right away, and a 160 GB model installed in Dell notebook systems now, while only promising the 500 GB option "soon."
Hitachi uses the phrase Bulk Data Encryption (BDE) to describe its system-on-a-chip technology for ensuring all data written to the disk is encrypted, without reliance upon the system BIOS or on-board software; Seagate refers to Full Disk Encryption (FDE), though the concept is essentially identical. Both companies have been jockeying for position over whether the latest incarnation of their technologies are, or will be, accepted by Trusted Platform Modules -- an important factor for businesses that have implemented TCG recommendations in their security schemes. This morning, Hitachi said it believed its new Travelstars will be first in its category to support TPMs. But even though Seagate omitted mention of TPMs yesterday, there's no reason to believe its new Momentus drives would not support them, because its current models up to 120 GB do.
Where Hitachi has historically fallen short against Seagate is in the performance department -- a fact which continues to be verified in independent tests. But where Hitachi can claim an advantage here (if not a little bit of an excuse) is in power reduction; any degradation in performance can perhaps be explained away by its lower power drain.
In the end, today's customer will be more concerned with price; and with business-class laptop drives, the customer is going to be a corporate system builder who is replacing unencrypted drives in existing laptops with encrypted ones. That customer will be purchasing in low bulk -- greater than one, fewer than 16.
So you have to pay some attention to Seagate's capability to take advantage of mass production. Right now, its regular (non-encrypted) Momentus 7200.3 250 GB model is selling online to OEMs for as low as eighty bucks, whereas Hitachi's 200GB Travelstar counterpart sells to the same customer for more than double that amount. Hitachi's "green" campaign will be able to justify a moderate price differential between its models and Seagate's, once they finally premiere probably in Q1 2009, but not a 100% price premium.
Hybrid NAC solutions
The Trusted Computing Group has already written a set and it is working its way through the IETF. Forrester says these standards will be key to expanding the role of NAC beyond admission testing, enforcement and remediation to include application-level controls, asset profiling and other functions outside the initial realm of NAC.
Standards are needed to help streamline NAC hybrid deployments
Security: Network Access Control Alert By Tim Greene , Network World , 11/11/2008
http://www.networkworld.com/newsletters/vpn/2008/111008nac1.html?hpg1=bn
Forrester is out with another NAC report, this one urging customers not to lock in on a single architecture because they are likely to want a hybrid over time.
The report – “NAC Remains A 2008 Blockbuster – But Wait Until You See The 2009 Coming Attractions” – restates Forrester's earlier suggestion that customers look at their current need for NAC and buy products that meet those needs.
The most common scenario is somehow identifying guest users and restricting their access. NAC appliances are a good fit for many businesses in this situation.
Later, other needs may arise that NAC can also deal with, but would deal with it best with a software product. So that same business that bought an appliance to control guest access might use NAC based on endpoint software to show that managed corporate devices were tested and found in compliance with security policies.
Related Content
The initial reaction to this scenario might be that now the business is stuck with two NAC products, two management platforms and perhaps redundant NAC elements.
This type of situation is not uncommon, Forrester says, with 57% of businesses in its study of NAC users having deployed such hybrid solutions.
Standards are needed to help streamline such hybrid deployments. The Trusted Computing Group has already written a set and it is working its way through the IETF. Forrester says these standards will be key to expanding the role of NAC beyond admission testing, enforcement and remediation to include application-level controls, asset profiling and other functions outside the initial realm of NAC.
Donald Duck,
Somehow, I can't quit thinking about a Disney analogy to our current situation.. If I had the energy, I'd research the 1955 Grand Opening to see if attendance was EXACTLY what Walt had hoped for.
In WaveWorld, I thought the numbers would be higher, but that doesn't mean the "visitors" aren't building. I've heard that posters on "AtomicBOOBs are having a field day with today's CC... when have they not? Just remember, the numbers keep growing.
Many years ago, someone asked Warren Buffet to recall his biggest mistake. He replied, and I'm paraphrasing, "I once bought Disney shares for $1million dollars and sold them for $4 million dollars." The questioner followed up with, "How was that a mistake?.. you quadrupled your investment" To which Buffet replied. "That same investment today would be worth in excess of $1 Billion dollars."
So, before the A-BOOBers get all-crazy and proclaim I'm thinking we have the next Disney, just let me suggest that, given the substantial and growing opportunities in front of this company and our partners, time will tell.
It worked for Walt and his investors.
FM
CC at 4:30pmEST Phone 212-231-2900 or 415-226-5363
hj, look at the bigger picture....
revenues rose 6% to $1,835,000
billings (a non-GAAP measure of demand, which reflects upgrade contracts signed during the period but which may be recognized over future periods) rose 36% to $2,297,000,
deferred Wave's software upgrade sales are being recorded as deferred revenue and recognized generally over a 365-day period. As a result of this treatment and the additional growth in Wave's upgrade sales in Q3, deferred revenue increased 78% or $462,000 to $1,050,000 in Q3 2008
"In Q3, we also continued to see evidence of the industry's growing
adoption of hardware-based security solutions. Toshiba became the second
major drive manufacturer to develop a full disk encryption line. Wave
began demonstrating development versions of its ETS and ERAS software for
these new Toshiba drives. We have also showcased advanced security
solutions that employ our software and Intel's vPro(TM) technology. We
believe Intel's integration of TPM functionality into the chipset, forming
an 'iTPM', could have an important impact on industry adoption of the TPM
technology. After more than a year-and-a-half of development work by Wave,
Intel began shipping the first desktop boards with vPro technology,
bundled with our software.
"Further expanding our PC OEM base, Wave has completed an important
agreement with Acer, the world's third-largest PC vendor, who has selected
Wave's ETS software to bundle with its new Veriton(TM) 670 business PCs.
Initial shipments by Acer are projected to begin before year-end. Given
Acer's global presence, and particularly its strength in Asia, we are
excited about continuing to develop this relationship."
Summary of recent progress/developments:
-- Wave Supports Seagate's New Faster, Higher Capacity Self-Encrypting
Drives Shipping on Dell E-Series Notebooks: In early November, Wave
announced the availability of enhanced versions of its EMBASSY(R) Trusted
Drive Manager (TDM) and EMBASSY(R) Remote Administration Server (ERAS) to
enable security features on Seagate's new 7200 and 5400 line of self-
encrypting drives, shipped on Dell's new E-Series notebook PCs. Wave's
trusted computing software supports secure Windows standby mode, pre-boot
authentication, single sign-on and Windows password synchronization.
-- Wave EMBASSY(R) Software is Now Available on Intel(R) Desktop Boards
Featuring iTPM: In early November, Intel(R) Desktop Boards DQ45CB and
DQ45EK
began shipping with an OEM version of EMBASSY(R) Trust Suite. The Desktop
Boards include Intel's(R) integrated Trusted Platform Module (iTPM), which
acts as a tamper-resistant storage vault for user credentials, providing
improved data protection and strong, multi-factor authentication for
network access. The Boards are designed for "white box" PC OEMs.
-- Acer Unveils Line of Business Desktop PCs with Wave Software: In mid-
October, Wave completed a license agreement with Acer, the world's third-
largest PC vendor, to bundle Wave EMBASSY(R) software with the new
Veriton(TM)
670 business PCs. Shipments in EMEA and APAC are expected by the end of Q4,
and in the U.S. next year. The motherboards on the Acer desktops feature
an iTPM.
-- Wave Introduces Enhancements to its Electronic Signature and Vaulting
Software for the Mortgage Industry: In mid-October, Wave's eSign division
announced enhancements to its eSign Transaction Management Suite (eTMS),
offering mortgage lenders a complete solution from origination to closing
that address many shortcomings of traditional paper processing. Lenders can
now securely deliver, track and sign disclosure and closing documents
electronically. Closing documents can now be signed and notarized in a
secure environment, with each note being registered through the Mortgage
Electronic Registry System (MERS(R)), the industry-endorsed system for
electronically tracking mortgage ownership and servicing rights.
-- Wave's eSign Transaction Management Suite (eTMS) Licensed by a Major
UK Bank and Mortgage Lender: In September, Wave's eSign division licensed
its eTMS software suite to a leading UK bank/mortgage lender for their use
in streamlining the processing of online applications for consumer
accounts. The integration of eTMS will allow online applications to be
signed and processed electronically in a matter of minutes.
-- Wave Showcases a Data Theft Protection Solution Using Intel(R) Anti-
Theft Technology: At IDF in mid-August, Wave demonstrated a data theft
protection and remote, out-of-band management solution for platforms with
Intel(R) vPro(TM) technology for enterprise and small- to mid-sized
businesses
(SMB). Wave showcased pre-production management and data protection
capabilities for platforms with Intel(R) Anti-Theft Technology -- advanced,
integrated hardware-based security technology -- using Wave's EMBASSY(R)
Remote Administration Server (ERAS) and its client EMBASSY(R) Trusted Drive
Manager (TDM).
-- Wave Demonstrates Strong Wireless Network and VPN Security using
Intel(R) vPro(TM) Technology: At IDF, Wave also showed how enterprises can
strengthen and simplify their existing wireless and virtual private network
(VPN) security by harnessing the built-in technology on platforms featuring
Intel(R) vPro(TM) technology. The demonstration illustrated how
enterprises can
reduce expenses relating to tokens, smart cards or complex authentication
schemes by deploying PC platforms with Intel(R) vPro(TM) technology, in
combination with Wave's EMBASSY(R) software.
-- Wave and Toshiba Partner to Develop Full Disk Encryption Solution for
Mobile PCs: In mid-August, Wave partnered with Toshiba in support of
Toshiba's hard disk drive (HDD) encryption technology. The full disk
encryption solution integrates Toshiba's HDD and an enhanced version of
Wave's TDM and ERAS products for the management and administration of
encrypting hard drives.
Wave Q3 '08 Revenue Grew 6% to $1.8 Million as Q3 '08 Billings Rose 36% to $2.3 Million
Market Wire
4:02 PM (GMT-05:00) Eastern Time (US & Canada) Nov 10, 2008
Wave Systems Corp.
LEE, MA, Nov 10 (MARKET WIRE) --
Wave Systems Corp. (NASDAQ: WAVX) (www.wave.com) today reported results
for the third quarter (Q3) and nine months ended September 30, 2008 and
reviewed recent corporate progress and developments. Wave's Q3 2008 net
revenues rose 6% to $1,835,000, compared to Q3 2007 net revenues of
$1,734,000, reflecting increased bundled software royalties, as well as
growth in contribution from software license upgrades.
Reflecting continued increases in Wave's software license activity, Q3
2008 billings (a non-GAAP measure of demand, which reflects upgrade
contracts signed during the period but which may be recognized over
future periods) rose 36% to $2,297,000, versus Q3 2007 billings of
$1,695,000.
As disclosed in its Q2 2008 news announcement, Wave's software upgrade
sales are being recorded as deferred revenue and recognized generally over
a 365-day period. As a result of this treatment and the additional growth
in Wave's upgrade sales in Q3, deferred revenue increased 78% or $462,000
to $1,050,000 in Q3 2008, compared to deferred revenue at June 30, 2008 of
$589,000, which was $233,000 higher than the Q1 2008 level. Gross profit
for Q3 2008 rose, in both dollar amount and percentage terms, to
$1,628,000 (88.7%), compared to $1,524,000 (87.9%) in Q3 2007.
As a result of higher levels of SG&A and R&D expense to support a growing
base of sales activity, partners, customers and prospective customers,
Wave reported a net loss of $5,605,000, or $0.10 per basic and diluted
share, in Q3 2008, compared to a Q3 2007 net loss of $4,778,000 or $0.10
per basic and diluted share. Per-share figures are based on a weighted
average number of basic shares outstanding in the third quarters of 2008
and 2007 of 57,896,000 and 49,737,000, respectively.
As of September 30, 2008, Wave had total assets of $2,985,000. Subsequent
to the close of Q3 2008, Wave completed a $721,500 offering of Series J
convertible preferred stock and began to implement a series of cost
reduction measures aimed at reducing the Company's ongoing operating
expenses.
Steven Sprague, Wave's President and CEO, commented, "As reflected in
revenue, billings and deferred revenue in Q3, Wave continued to make
progress in expanding its base of customer installations both on a bundled
and upgrade basis, despite growing global economic challenges. Among the
highlights in Q3 was Wave's role in Dell's largest-ever product launch:
the Latitude E-Series notebooks in late September. This new PC line
integrates Wave's EMBASSY(R) client software within Dell's new
ControlPoint application, giving users a set of robust tools for managing
a wide array of embedded security, from Trusted Platform Modules (TPMs)
to fingerprint sensors. As we have previously reported, under our
arrangement with Dell, Wave will now begin to receive higher per-unit
royalties on shipments of those products. Wave anticipates beginning to
record bundling revenues from the E-Series product line in Q4. Going
forward, we believe that our inclusion on these platforms, combined with
the higher per-unit bundling royalty, will benefit our financial
performance in Q4 and subsequent quarters. Further, as we announced
earlier today, our partner Seagate is now providing its higher-capacity
FDE drives as an upgrade option on the E-Series. These drives are bundled
with Wave software and should represent additional revenue opportunities
for Wave.
Intel Chipset Promises Big Security Gains
The vPro's on-chip safeguards take system management to a new level--but questions remain.
By Bill Silvey, InformationWeek
Nov. 1, 2008
URL: http://www.informationweek.com/story/showArticle.jhtml?articleID=211800250
Intel's vPro promises to stop exploits before they hit the operating system
The notion of hardware-based security isn't new; think Wake-on-LAN, BIOS-based antivirus utilities, and Trusted Platform Module. But it has yet to make a real dent in malware infections. Now the newest iteration of Intel's vPro chip-based security is poised to revolutionize IT's tactics in this fight--or at least give us a little breathing room.
Intel introduced its vPro technology in 2006, then added in August 2007 Trusted Execution Technology, which verifies that software hasn't been tampered with. On Sept. 23, Intel unveiled the third generation of the vPro, with better efficiency and management.
Now, as vPro chipsets arrive in myriad motherboard products for desktops, servers, and laptops, Intel hopes baked-in security and nearly hands-off system management spell real gains for distributed enterprises with lots of remote workers when far-flung systems become compromised and must be removed from a network, or when anti-malware applications demand manual updates.
One problem, though, is that for full integration with enterprise applications, vendors--in particular, Microsoft--must design products to work with vPro. There's also the question of long-term viability: Firmware that requires reflashing to keep up with new and ever-more-insidious attack tools could be a tempting target, one that can be analyzed and deconstructed because the firmware can be dumped and disassembled.
The hope is that the basic principles currently at the heart of the worst forms of data intrusion, such as buffer overflow and port exploitation, will remain relatively static, and thus a basic, robust set of rules can watch at the core level to stop them before they stop us. Whether or not these best hopes and Intel's diligence will be enough to make this iteration of hardware security more effective than previous efforts remains to be seen.
The vPro is an on-chip/on-motherboard management suite that aims to take the pain out of anti-malware program updates, system isolation, and system restoration. Workstations and servers from hardware vendors such as Asus, Dell, Hewlett-Packard, and Toshiba include the vPro motherboard technology. These systems support Intel's Active Management Technology (AMT), which gives network and system administrators an array of tools not only to control the physical tracking of the asset, but also to detect network compromises and defend against them.
VPro's resource management tool can be accessed via HTTP, much as a management page for a router might be. Through the browser, the administrator can reboot the system, halt the boot process if the OS is compromised, and update system BIOS. The Web page also enables IT to reset hung operating systems, poll for hardware status, and use a network image to reinstall an OS if a remote system is corrupted.
VPro offers a set of rules or defined conditions for allowable network traffic, established in the firmware, enabling network managers to monitor for suspicious network traffic on NICs or TCP/UDP ports. When questionable traffic is detected, vPro can notify IT via an alert or automatically shut down processes. It can thwart a buffer overflow by flushing the network buffer before the malware has a chance to gain control of the system. Rules can be set up to isolate infected machines, stopping network traffic to or from the affected system. The vPro chipset does this independent of the OS.
Intel's vPro offerings leave the factory with some AMT options switched off. Intel told us it leaves it up to individual OEMs to determine if certain features are on or off, based on that OEM's client requirements. Remote provisioning can be configured down the line from the ISV console, while integrating specific features into an Active Directory structure, for example, will take "a bit more time." And we'll be interested to see whether a wide swath of software makers build hooks for vPro/AMT into their products.
In Part 2 of this Tech Road Map (see Sun's T5440 Server Is Built To Multitask) , we'll examine the roles of Intel, rival chipmaker AMD, and software vendors in giving teeth to this silicon watchdog.
THE LOWDOWN
THE PROMISE
Intel has tackled the issue of data security head-on, from road warriors' notebooks all the way to the servers in the data center they're connecting to. Intel promises big security gains through vPro's on-chip management, limiting or completely stopping network exploits before they have a chance to compromise operating systems. It claims vPro's remote asset management tools will boost physical security and accountability.
THE PLAYERS
Intel is banking hard on vPro making big, rapid inroads and being adopted by the likes of Apple, Microsoft, and various Linux distributions. Asus, Dell, Hewlett-Packard, Toshiba, and others are shipping vPro-powered workstations and servers. Currently, no competitors make on-chip security a priority, so the vPro could further solidify Intel's status as market leader.
THE PROSPECTS
Antivirus software can no longer go it alone. As botnet and buffer overflow attacks become the weapons of choice for hackers, Intel has a major stake in upping the ante in the war on malware by addressing security holes. However, Intel also faces the prospect of diminishing security returns over time as attackers figure out workarounds for its on-chip safeguards. Intel's vPro promises to stop exploits before they hit the operating system
(Dell) Enhanced Security
http://www.newsfactor.com/news/Dell-Launches-Business-Desktop-PCs/story.xhtml?story_id=1300048S5LQ8
Security is another area in which Dell has introduced major improvements. "The new OptiPlex 960 and 760, for example, feature optional hardware-encrypted hard drives that help ensure that critical data stays secure," Ward observed.
Security settings on the computing system also have been made easier through the Dell ControlPoint software that OptiPlex desktops share with Dell's newest Latitude laptops. "This unique software enables the end user to easily manage multifactor authentication devices, including smartcard keyboards and biosensors, making the OptiPlex 760 and 960 our most secure desktops ever," Ward said.
Economic outlook bright for biometrics, ID card industries
http://www.nextgov.com/site_services/print_article.php?StoryID=ng_20081022_1033
Despite the global economic downturn, the growth potential for government programs aimed at verifying the identity of people in the United States and abroad remains strong, industry officials said at a conference in Washington today.
Comment on this article in The Forum.Companies that produce secure identification documents and use biometrics, such as fingerprints and iris scans, stand to benefit the most as governments award contracts for identity verification solutions, officials said at a conference organized by Imperial Capital LLC, CapitalSource LLC and Civitas Group LLC.
"Traditional paper documents just don't work anymore," said Paul Beverly, president of North American operations for Amsterdam, Netherlands-based Gemalto, which specializes in digital security documents. Jim Hayward, chairman and president of Applied DNA Sciences, said the U.S. public has become tuned into the value of using DNA for security through television programs such as the CBS blockbuster "CSI" series, where police investigators use forensics and biometrics to crack some of the toughest cases. Applied DNA Sciences, headquartered in Stony Brook, N.Y., uses plant-based DNA to secure a host of items, such as passports, driver's licenses, currency and fabrics.
"We feel we have built a recession-resistant business," Hayward said. Indeed, Hayward estimated the market for biomaterial genotyping at $1 trillion. The company boasts that its DNA markings cannot be counterfeited. Hayward said the Transportation Security Administration had about 1,500 uniforms for airport screeners stolen last year. He declared that the uniforms would be identifiable if they had DNA markings on them.
Internationally, LaserCard Corp., based in Mountain View, Calif., expects its profits to grow at the end of FY09 and in subsequent years due to identity verification projects in Angola and Italy, said Robert DeVincenzi, who became the company's chief executive officer and president in June. He said government programs represent 60 percent to 65 percent of the company's revenue. The firm also expects revenue from optical memory card programs in FY09 to grow by as much as 50 percent.
Companies that specialize in providing full services to government clients are expected to fare the best, industry officials said. Gemalto's Beverly, for example, said governments are not only looking for a contractor to provide secure devices but also to manage the process for enrolling people into secure identity programs, provide software solutions and issue secure documents. He said government programs account for the fastest growing segment of Gemalto's business. Specific programs the company eyes for growth include electronic passports, national identification cards and secure driver's licenses, Beverly said. "Clearly there are some strong market drivers that we have," he said.
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© 2008 BY NATIONAL JOURNAL GROUP, INC. ALL RIGHTS RESERVED
cliff.... from awk:
this might clear it up........
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=31595897
Cliff, it's not (too) new
Danbury is Intel's Anti-Theft Technology:
Wave to Demonstrate Data Protection Using Intel® Anti-Theft Technology at Intel Developer Forum
Lee, MA & San Francisco, CA (Intel Developers Forum, Pro Zone, Booth #737) — August 20, 2008 — Wave Systems Corp. (NASDAQ: WAVX; www.wave.com) announced today that it will demonstrate a pre-production data theft protection and remote, out-of-band management solution for platforms with Intel® vPro™ technology for enterprise and small to-mid-sized businesses (SMB).
Wave will showcase pre-production management and data protection capabilities for platforms with Intel® Anti-Theft Technology—advanced, integrated hardware-based security technology—using Wave EMBASSY Remote Administration Server (ERAS) and its client EMBASSY Trusted Drive Manager (TDM). Demonstrations will take place at Wave’s kiosk in the Pro Zone.
The prototype EMBASSY software demonstration will show how enterprises can roll out a fully integrated and managed solution for advanced hardware based data protection, allowing for pre-boot authentication, secure remote management and authenticated, remote unlock of encrypted data using industry standard serial ATA (SATA) disk drives. This combined solution will offer best-in-class security without the cost and management overhead of software based full disk encryption (FDE).
“Wave Systems is pleased to be working with companies like Intel in demonstrating powerful and flexible solutions to protect against data theft in a far more secure fashion,” said Steven Sprague, president and CEO of Wave Systems. “By combining upcoming Intel® vPro™ Technology platforms with ERAS, we plan to deliver what companies have been looking for in a PC to enable maximum security coupled with optimal manageability, which all begins at the hardware-based level.”
Wave demonstrations in the Pro Zone will also showcase Intel® Advanced Management Technology (AMT), which allows for out-of-band management and upcoming Intel® Anti-Theft Technology, which provides data protection working seamlessly together with the Wave EMBASSY suite of software.
“Taking advantage of upcoming capabilities of Intel vPro technology will enable Wave to deliver more secure hardware-based data protection solutions for large and small businesses alike,” said Tom Quillin, director, Intel Client Ecosystem Enabling.
In addition to its presence in the Intel® Pro Zone, Wave Systems will also have its ERAS technology on display for customers seeking to learn more about full disk encryption and data at rest security based on hardware FDE solutions from multiple vendors in various client and server-managed environments. These additional demonstrations will be held in a Wave meeting room on the third floor of Moscone Center West, August 19-21. For demonstration and meeting appointments, contact Wave’s executive vice president Lark Allen at lallen@wavesys.com.
Microsoft Announces the Next Version of Windows Embedded Standard to Be Built on Windows 7
DJ Press Release Wire
12:01 PM Eastern Daylight Time Oct 28, 2008
Next generation of Windows Embedded Standard will offer a richer set of solutions for building smart, connected, service-oriented devices.
BOSTON, Oct. 28 /PRNewswire-FirstCall/ -- Today at the Embedded Systems Conference Boston, Microsoft Corp. announced plans for the next generation of Windows Embedded Standard, code-named "Quebec" to be built on Windows 7. Windows Embedded "Quebec" delivers powerful next-generation Microsoft technologies including Silverlight 2, Windows Presentation Foundation and interoperability with Visual Studio 2010. Alignment with Windows 7 features will give OEMs access to the skills and contributions of a global community of Windows developers familiar with Visual Studio. OEMs will be able to quickly develop applications and drivers for connected device scenarios requiring rich applications, services and end-user experiences connecting to Windows-based PCs, servers and Windows Web services.
From Dell (today's news):
Security – automated data security with full disk encryption and solid state drives for added data protection on select systems; improved chassis intrusion prevention; Dell Control Point security management, smart card authentication; remote patching and isolation.
From Wave:
Wave Systems Corp. (“Wave” or “the Licensor” ) signed an amendment to its software license agreement with Dell Products, L.P. (“the OEM”) extending the term of the agreement to January 2011. Pursuant to the existing agreement, the OEM is permitted to distribute Wave’s EMBASSY Trust Suite (ETS) software on certain of its PCs that include Trusted Platform Module security chips.
From SKS:
Another major event that was announced was we renegotiated our Dell contract. During the period of 2007 Dell re-competed their business around security software in the, across the board. We successfully won that business. We were also able in that negotiation to be able to increase our pricing, really to provide additional functionality. We think that there's a tremendous opportunity to even more broadly enable these platforms and demonstrate the differentiation that we help to bring to our partners in offering a full secure solution on the platform. So we were very pleased to successfully achieve that. We look forward to shipping with them for the ongoing future. The current contract extension extends through 2011.
Authentec: Power Of Touch
AuthenTec announces its award-winning fingerprint sensors are bringing Power of Touch® features to millions of new Intel® Centrino® 2 processor technology-equipped notebook and ultraportable PCs from the world’s leading PC manufacturers.
AuthenTec’s award-winning fingerprint sensors have been designed into more than 100 of these new PC models - representing millions of total PCs - for user security, convenience and personalization.
New PC models that are incorporating AuthenTec fingerprint sensors include business and consumer notebooks as well as ultraportable PCs from the world’s leading brands including ASUS, Acer, Dell, Fujitsu, Fujitsu Siemens, HP, Lenovo, LG, Samsung and Toshiba.
These innovative, high performance PCs integrate AuthenTec’s small form factor AES1610, single chip match-on AES2810, and new AES2550 fingerprint sensors for enhanced security and convenience features such as password replacement, fast user switching, application quick launch and file/folder encryption with the simple swipe of the finger.
“We’re extremely pleased to bring the Power of Touch to so many PC users through the launch of millions of new AuthenTec-enabled Centrino 2 notebooks that are now shipping and will continue to roll out throughout the next year,” says AuthenTec President Larry Ciaccia. “These new notebooks leverage the breadth of our product portfolio and are shipping on laptops from 8 of the world’s top 10 notebook PC OEMs. The AuthenTec team is proud to play a key role in adding security, convenience and personalization to these innovative, high-performance business and consumer PCs from the most trusted brands on the planet.”
Formerly codenamed Montevina, Intel Centrino 2 processor technology and Intel® Centrino® 2 with vPro™ Technology improve upon every facet of a laptop's main features, including performance and battery life via new processors and chipsets.
AuthenTec has the broadest portfolio of silicon-based fingerprint sensors on the market today. All AuthenTec sensors utilize the Company’s patented TruePrint® technology to deliver extremely accurate and reliable fingerprint imaging.
TruePrint reads below the surface of the skin to the live layer, where a person’s true fingerprint resides. This subsurface approach enables AuthenTec sensors to overcome common skin surface conditions to read virtually every fingerprint, every time.
For more information, visit www.authentec.com
High-end desktops on Intel Core i7 processor soon
http://www.ciol.com/Semicon/SemiSpeak/Interviews/High-end-desktops-on-Intel-Core-i7-processor-soon/241008111933/0/
TAIPEI, TAIWAN: Intel is all set to launch high-end desktops powered by the Intel Core i7 processor, next month. This was disclosed by Kirk B. Skaugen, Vice President, Digital Enterprise Group, General Manager, Server Platforms Group, in the Digital Enterprise Keynote: IA = Embedded + Dynamic, during the recently held Intel Developer Forum (IDF).
He added that the Intel vPro technology-based business clients: "Piketown" for desktops and "Calpella" for notebooks, will be powered by future Nehalem processors and will provide corporate customers with even more enterprise-focused innovations. Intel and IBM also strengthened their Blade server segment partnership.
Skaugen said: "We are in the third stage of the Internet revolution. The fourth stage is the pervasive Internet. By 2015, there will be 15 billion devices connected to the Internet. The Atom processor has unleashed a new wave of connected devices. However, these devices will need massive infrastructure support as well. Storage will also become a massive area of growth and development."
IBM Switch specs opened to SSI
According to Skaugen, the best infrastructure is built on infrastructure standards. Citing IDC figures, he said that the Blade market growth will be 37 percent CAGR during 2007-11. The Apac market will grow 78 percent.
IBM and Intel also strengthened their alliance in Blade servers. Mark Wiltse, IBM Systems & Technology Group, said that Blade.org has been created and is focused on solutions collaboration. "We are opening up the IBM Switch specifications to Server Systems Infrastructure (SSI). This will create broader opportunities in Blade. There is broad support for SSI Blade specifications." IBM will extend the BladeCenter switch specification for blade servers to the SSI on a royalty-free basis.
Commenting on the Nehalem, Skaugen added that it is a next generation microarchitecture, using second generation of virtualization, and there is 3X memory bandwidth support as well. Intel's Power Boost technology has also been used on the Nehalem.
Skaugen also provided details of next-generation high-end desktops powered by the Intel Core i7 processor, launching next month. These high-end desktops will provide outstanding performance for gaming and content creation applications.
Calpella and Piketown in the offing
He shared that the 2009 Intel vPro technology-based business clients codenamed "Piketown" for desktops and "Calpella" for notebooks will be powered by future Nehalem processors and will provide corporate customers with even more enterprise-focused innovations.
The upcoming Nehalem microarchitecture spans a range of products. First segments will include the Intel Core i7 processor and a variant designed for the efficient performance server segments codenamed "Nehalem-EP."
A derivative designed for the expandable server market segment ("Nehalem-EX") as well as other desktop and mobile versions ("Havendale," "Lynnfield," "Auburndale" and "Clarksfield") will be in production beginning in the second half of 2009.
Nehalem's integrated power gate
Stephen S. Pawlowski, Intel Senior Fellow, highlighted that the Nehalem has an integrated power gate. "We have got the M9 (metal 9) deposited on the silicon to create low-power resistance." Having power gates means that the idle cores use near zero power.
Several Intel partners also showcased their products at IDF Taiwan. There were 37 new motherboards, while the Nehalem EP was touted as the world's most adaptable server platform. Skaugen said: "it is energy efficient and designed for virtualization. Also, there is investment protection with FlexMigration."
Intel also introduced its range of SSDs, in 2.5-inch form factors, with 32/64GB storage. Citing SSD benefits, he said these included 6X performance increase, 46X power reduction and 75 percent space reduction.
Intel on MIDs' potential
Later, on being quizzed regarding the potential of MIDs, Anand Chandrasekher, Senior Vice President, General Manager, Ultra Mobility Group, said: "When we first started talking about MIDs, we were the only ones. It will take a couple of years for this market to go up, maybe, by 2010. There has to be a set of designs that consumers look at!"
According to him, the MIDs must have the ability to deliver a world class Internet experience, along with a long battery life. "It is the biggest market we should get, if we play our cards right," he concluded.
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Group Test: Encryption
http://www.securecomputing.net.au/GroupTest/126305,group-test-encryption.aspx
Legislation at the state and federal level seems to be favouring encryption mandates for businesses that have a strong need to protect sensitive data.
At this time, several states have enacted laws that require businesses that have reported a data breach to encrypt customer data. As these requirements take the spotlight and consumers realise the dangers associated with the disclosure of their account numbers or health information, businesses are being pressed to take action.
For all the extra level of security that encryption affords an organisation, the mismanagement of technology can also add to the risk. Organisations are looking for simple solutions that can not only effectively integrate with existing directories or technologies, but also do the job of encrypting endpoints without impeding performance or user productivity.
Transparency to the user is a must today, and vendors are responding. As the market matures, we are starting to see several feature sets that allow for an organisation to implement a solution without having to invest significant resources in deployment and management.
From a product perspective, encryption products are generally either hardware-based (chipsets, such as the Trusted Platform Module) or software-based.
Software-based products range from whole disk encryption - which provides protection for a hard drive, even if taken out of the computer - to encrypting particular files, folders or removable devices, such as USB drives. Whatever the end result of a product's feature set, businesses should implement solutions that help them align with their own security objectives.
We examined products that perform whole disk encryption (often referred to as FDE, or full disk encryption) and products that help to secure folders or files within the operating system (OS). Both have the end goal of ensuring that only those who need access to the data have the ability to do so. This is achieved by locking out unauthorized users through the use of keys and encryption mechanisms whose implementation may vary from product to product.
How we tested
All of the products in our group review were divided into two areas: client and server software. All server software was installed on both a virtual instance and physical machine. Our lab server machines consist of Windows 2003 RC2 Standard Edition servers and Windows 2008 with Hyper-V for our virtual instances.
Our client machines were installed with Windows XP SP2 and Windows Vista Business Edition SP1. Linux-based OSs were only used to attempt to boot to encrypted Windows devices in order to access the drive. We installed IIS, MS SQL Server 2005 and ADAM when specific vendor requirements called for it.
The areas we placed emphasis on were installation, administration, usability in an enterprise environment, user experience (transparency), support, price and overall value for the money. Most of the products performed to the same technical levels when determining how quickly disks or files can be encrypted or decrypted.
The real meat of our testing was how easy and efficient it was to create policies and deploy them to endpoints. Most products made it easy to import or choose users, groups and computer objects and then deploy our policy templates to those users.
However, we liked the ability to see what was actually secured (or not), so that we could make informed decisions about how to secure certain assets based on the criticality in the environment.
The overall assessment of ports and ancillary devices is also a welcome feature. Having a window into your environment regarding what physical and logical channels exist for users to actually exploit, helps the administrative cause in the long run.
Because cryptography is sometimes a more specialized field, the use of documentation becomes even more important. Vendors that organised their documentation in an easy-to-read format scored higher on our tests because their stakeholders may rely on it much more heavily than with other solutions.
This also lends itself to how easy it would be for an administrator to use the solution. In this group, this was the biggest variable. Some products were a breeze to setup, while others contained detailed manuals with hundreds of pages needed to install and configure the product.
Nathan Ouellette is consulting director of Viopoint.
Network Access Control: Deploy Now or Wait?
http://www.computerworld.com.au/index.php/id;571579222;fp;2;fpid;2
"It's definitely maturing," says Andrew Braunberg, research director for enterprise software and security at Current Analysis. "Major players like Cisco and Trusted Computing Group have realized that they have to play nice with Microsoft, so they now have interoperability agreements with Microsoft. That's just one example of how interoperability issues are being worked out. But it will take some more time.
Nasdaq implements 90-day suspension on min bid & min mkt cap
Effective immediately, NASDAQ has suspended the enforcement of the rules requiring a minimum $1 closing bid price.
Effective immediately, NASDAQ has also suspended the enforcement of the rules requiring a minimum market value of publicly held shares (MVPHS).
NASDAQ will not take any action to delist any security for these concerns during the suspension.
The suspension will remain in effect through Friday, January 16, 2009. These rules will be reinstated on Monday, January 19, 2009.
--------------------------------------------------------------------------------
Given the current extraordinary market conditions, NASDAQ has determined to suspend the bid price and market value of publicly held shares requirements through Friday, January 16, 2009. In that regard, on October 16, 2008, NASDAQ filed an immediately effective rule change with the Securities and Exchange Commission, such that companies will not be cited for any new concerns related to bid price or market value of publicly held shares deficiencies. These rules will be reinstated on Monday, January 19, 2009.
As a result of the suspension, all companies presently in the compliance process will remain at that same stage of the process. However, if such a company is presently subject to being delisted for concerns not related to the bid price or market value of publicly held shares requirements, it will continue in that process with respect to those other concerns. Over the next few days, NASDAQ staff will contact each company affected by this suspension to discuss the specific impact to the company. NASDAQ will continue to monitor companies to determine if they regain compliance with these requirements during the suspension.
NASDAQ believes that this temporary suspension will allow companies to focus on running their businesses, rather than satisfying market-based requirements that are largely beyond their control in the current environment. Moreover, this temporary suspension should help to restore investor confidence in affected NASDAQ companies as the suspension will allow investors to make decisions without considering the likelihood of a very near-term delisting. In the coming months, NASDAQ will continue to monitor the affect that market conditions are having on the operation of our rules.
For more detailed information, please see the following internet links:
NASDAQ Rule Providing Temporary Suspension
NASDAQ Stock Market Rules
If you have any questions, please contact your NASDAQ Listing Qualifications Analyst or your NASDAQ Relationship Manager.
attcav: check your email... good stuff!! e/
JKIRK.. re: SafeNet's announcement...
these are separate, very high end, encryption boxes. A completely different market from any Wave related markets.
orda, let's wait for the numbers...
then, I think you'll see the traction. If you haven't read on this board before, a number of posters, including msyself, have posted that security software is difficult to install, cumbersome to use, diminishes operating capacity, and will soon be obsolete. I happen to know of a Fortune 500 company that deployed a software solution last year and found it to be so difficult that they've asked the vendor to remove it.
awk, Wave built a version of the ETS applications for Acer which use the software security functions of Windows(MS Crypto API) to provide the same functions as the TPM, except that it is all software with no hardware. Not as secure, but with the same functions as with a TPM. They must have wanted to have Wave's security applications across all their platforms, but not all the platforms had a TPM in them. This also means Acer didn't need another vendor to manage the software security.
Acer Unveils Line of Business Desktop PCs With Wave Software
Acer Unveils Line of Business Desktop PCs With Wave Software
Market Wire
10:27 AM Eastern Daylight Time Oct 14, 2008
Wave Systems Corp.
LEE, MA, Oct 14 (MARKET WIRE) --
Wave Systems Corp. (NASDAQ: WAVX) recently completed a license agreement
with Acer, permitting the world's third-largest PC vendor to bundle an
OEM edition of its EMBASSY(R) Trust Suite (ETS) software with Acer's new
Veriton(TM) 670 line of business desktop PCs.
The first shipments of the Acer desktops with ETS are expected to begin
this quarter and include a motherboard featuring a Trusted Platform Module
(TPM) that is integrated with the Intel chipset branded the iTPM. This
built-in hardware strengthens PC security and alleviates vulnerabilities
found in software security through enhanced capabilities such as safe
storage for user credentials and encryption keys. Organizations that
leverage Intel's iTPM combined with ETS can quickly and cost-effectively
enhance and manage PC security in the following ways:
Strong authentication: Strengthen authentication to Windows, Virtual
Private Networks (VPN), wireless networks and secure applications through
multi-factor authentication, with the option of combining passwords, TPM
certificates, smart cards and fingerprints.
Data protection: Access a secure virtual drive from any program to
encrypt sensitive files and folders using hardware-based encryption
instead of software-based encryption.
Password management: Take advantage of speedy access to websites and
applications with automated features for saving and supplying passwords.
Passwords are safeguarded by hardware in TPM-secured storage.
In addition, security policies and user settings are consolidated
into a single security interface for simplified management. Security
wizards assist the user with first time setup, multi-step tasks and
adding TPM security to common applications. For enterprises, Wave also
offers enhanced management capabilities through its EMBASSY Remote
Administration Server and integration with Active Directory, which allows
for remote administration of security features of ETS as well as
distributed policy management.
Acer will also bundle Wave's ETS on PCs designed for small businesses that
do not have a discrete TPM chip or iTPM included on the motherboard.
Applications include managing passwords, biometric authentication and file
and folder encryption.
"Businesses worldwide are increasingly seeking higher levels of security
for their critical information and network access, and leading PC vendors
like Acer are addressing these customer demands through hardware," said
Brian D. Berger, Wave's executive vice president of marketing & sales. "We
look forward to providing Acer customers with the ability to turn on,
manage and leverage the Trusted Platform Module with Wave's software to
deliver stronger security for their users and better protection for their
critical data."
Wave will receive a per-unit royalty based on the shipment volumes to
third parties of products equipped with the ETS Acer Computer OEM Edition.
However, the license agreement does not provide for guaranteed minimum
shipped quantities or royalties.
About Wave Systems
Wave provides software to help solve critical enterprise PC security
challenges such as strong authentication, data protection, network access
control and the management of these enterprise functions. Wave is a
pioneer in hardware-based PC security and a founding member of the Trusted
Computing Group (TCG), a consortium of nearly 140 PC industry leaders that
forged open standards for hardware security. Wave's EMBASSY(R) line of
client- and server-side software leverages and manages the security
functions of the TCG's industry standard hardware security chip, the
Trusted Platform Module (TPM). TPMs are included on tens of millions of
PCs and are standard equipment on many enterprise-class PCs shipping
today. Using TPMs and Wave software, enterprises can substantially and
cost-effectively strengthen their current security solutions. For more
information about Wave and its solutions, visit http://www.wave.com.
keV, what's your point? e/
Did we just sell WavExpress?????????
Up big, over a half million shs...no news... hmmmmmm?
Trusted Computing Group: Blog
https://www.trustedcomputinggroup.org/blog/
London Calling – Get Ready for RSA Europe!
October 7th, 2008 by Brian Berger
By Brian Berger, Wave Systems Corp. TCG Marketing Chair and TCG Director
In less than a month, our European security, IT and crypto colleagues will gather at the spiffy ExCel Centre in London to meet and greet some of the most interesting names in the ever-expanding world of making data and systems safer than they are today. Monday, October 27 – Wednesday, October 29 will include a number of interesting sessions, panels and hall conversation. RSA conferences keep growing as more vendors enter into security and as the definition of security has expanded, and we hope to see many of our TCG members and users at this event. Don’t miss the great keynotes and sessions.
Many users out there by now have heard about the Trusted Platform Module and related efforts from TCG and its members, but many still wonder what to do with it. How can the TPM be used? How can it be managed? Does it work with my existing infrastructure? Does it really protect keys, certificates and passwords? We are going to answer those questions in our European version of a very popular hands-on lab we previewed this year at RSA in the United States.
The session, “Trusted Computing in Action: A Hands-On Day to Secure Data and Systems”, will take place on Monday, October 27th 11:30 a.m. - 4:00 p.m. in the ExCel Centre’s Platinum Room 5/6/7 – Level 2. It is free to attend, but registration is requested at http://www.rsaconference.com/2008/Europe/Agenda/Trusted_Computing_Group_Seminar.aspx. We encourage you to come for all or part of this and see what the TPM really can do. We also will show you very specific examples and demonstrations of trusted storage for the client and in the data center, and we will show you how to protect your networks against threats of all types.
Speaking of networks, NAC, or network access control, remains a very hot topic with many of us. On Wednesday, October 29, 10:30 a.m., TCG’s Trusted Network Connect co-chair and frequent RSA panelist and speaker Steve Hanna will address “NAC 2.0: Unifying Network Security” in the Network Security Track.
Still wondering what to do with that TPM? Brian Berger, also Executive Vice President, Marketing and Sales, Wave Systems Corp., will address the topic of passwords in an RSA technology showcase session “Machine Authentication: Stop the Password Madness with the TPM” on Tuesday, October 28, 11:15 a.m. on the exhibitor floor.
Throughout the show, RSA attendees can see various applications of the Trusted Platform Module, network security and self-encrypting drives in action on the exhibit floor in TCG Stand 4. Please stop by to see these demonstrations, talk with our experts from the work groups, and sign up to win a nice prize!
Mobile workers are leaking your data
http://www.computerworld.com/action/article.do?command=viewArticleBasic&articleId=9115942&source=NLT_SEC&nlid=38
October 1, 2008 (Network World) Numerous behavioral risks taken by employees in increasingly distributed and remote locations can lead to the loss of corporate information, according to a study commissioned by Cisco Systems Inc.
Cisco, which is banking a large chunk of its growth on collaboration, says that as workforces become increasingly mobile, lines are blurring between work life and personal life. This could lead to risky or reckless use of company IT resources, resulting in leakage of sensitive data, the company says.
"Businesses are enabling employees to become increasingly collaborative and mobile," said John Stewart, Cisco's chief security officer, in a statement. "Without modern-day security technologies, policies, awareness and education, information is more vulnerable."
The study, conducted by InsightExpress LLC and commissioned by Cisco, is based on surveys of more than 2,000 employees and IT professionals in 10 countries. It is intended to examine security and data leakage implications for businesses as employee lifestyles and work environments are becoming increasingly untethered from a fixed location. It also identifies common data leakage mistakes and risk management opportunities among workforces around the world as this new workplace paradigm is increasingly adopted.
The study surveyed 1,000 employees and 1,000 IT professionals from various industries and company sizes in 10 countries: the U.S., the U.K., France, Germany, Italy, Japan, China, India, Australia and Brazil. The countries were chosen because they represent a diverse set of social and business cultures, established and emerging network-dependent economies, and varied levels of Internet adoption, Cisco says.
According to Cisco, these were the 10 most noteworthy behavioral findings:
1. Altering security settings on computers: One out of five employees altered security settings on work devices to bypass IT policy so they could access unauthorized Web sites. More than half said they simply wanted to access the site while one-third said, "it's no one's business" which sites they access.
2. Using unauthorized applications: Seven out of 10 IT professionals said employee access of unauthorized applications and Web sites ultimately resulted in as many as half of their companies' data loss incidents. This belief was most common in the U.S. (74%) and India (79%).
3. Having unauthorized network/facility access: In the past year, two out of five IT pros dealt with employees accessing unauthorized parts of a network or facility. Of those who reported this issue, two-thirds encountered multiple incidents in the past year and 14% encountered this issue monthly.
4. Sharing sensitive corporate information: One out of four employees admitted verbally sharing sensitive information with nonemployees, such as friends, family or even strangers. When asked why, some of the most common answers included, "I needed to bounce an idea off someone," "I needed to vent" and "I did not see anything wrong with it."
5. Sharing corporate devices: Almost half of the employees surveyed share work devices with others, such as nonemployees, without supervision.
6. Blurring of work and personal devices and communications: Almost two out of three employees admitted using work computers daily for personal use. Activities included music downloads, shopping, banking, blogging and participating in chat groups. Half of the employees use personal e-mail to reach customers and colleagues, but only 40% said this is authorized by IT.
7. Leaving devices unprotected: At least one in three employees leave computers logged on and unlocked when they're away from their desk. These employees also tend to leave laptops on their desks overnight, sometimes without logging off, creating potential theft incidents and access to corporate and personal data.
8. Storing log-ins and passwords: One in five employees store system log-ins and passwords on their computer or write them down and leave them on their desk, in unlocked cabinets or pasted on their computers. In China, 28% of employees reported storing log-ins and passwords to personal financial accounts on their work devices.
9. Losing portable storage devices: Almost one in four employees carry corporate data on portable storage devices outside of the office.
10. Allowing "tailgating" and unsupervised roaming: More than one in five German employees allow nonemployees to roam around offices unsupervised. The study average was 13%, and 18% have allowed unknown individuals to tailgate behind employees into corporate facilities.
Cisco says these findings can help companies sculpt global risk management plans. To prevent data loss, the company recommends practices such as these for preventing data loss:
• Establish security awareness, education and training.
• Know how/where data is stored, accessed and used.
• Protect data as if it were money. Educate employees about how data protection equates to money earned and data loss equates to money lost.
• Institutionalize standards for safe conduct by determining global policy objectives and creating localized education tailored to a country's culture and threat landscape.
• Foster a culture of trust between employees and IT.
The study's release comes shortly after a Cisco executive noted the security vulnerabilities of virtualization and cloud computing during an industry trade show keynote address. Cisco is also relying heavily on these market trends for its future growt
keV
Only to the amount of the issuance.. anything left is divided among the common stockholders.
trustco,
How can the pfd holders possibly walk away with the company?
FM
Jon Oltsik: What's going on with Intel and Oracle?
http://news.cnet.com/8301-1001_3-10051933-92.html
Oracle is famous for using its Oracle World conference to announce everything but the digital kitchen sink. Earlier this week, Oracle announced a database appliance with CEO Larry Ellison crowing, "Oracle is now in the hardware business!" As if this wasn't weird enough, Oracle also teamed up with Intel to make a vague announcement about encryption for cloud computing and virtualization.
On the Intel side, the company is highlighting its Virtual Technology (VT) platform that supports "hardware-rooted" security, something Intel calls its "Trusted Computing for Execution Platform." For Oracle, it's all about its grid computing technologies including databases, application clusters, and virtual machines.
So in essence, this announcement is about Intel technologies still in development, a variety of complex Oracle stuff, and the overhyped industry concept of cloud computing. Oh, and I forgot to add that the two companies mix encryption into this nebulous morass.
I'm really not sure what to make of this announcement, so I'll respond by describing what I do know. We already have well-established ways to use encryption for authentication (i.e., Public Key Infrastructure, or PKI) and for protecting the confidentiality of data in transit (IPSec, SSL). We even have established hardware standards to support this on PCs and servers (Trusted Platform Module, or TPM). Given these existing standards, what the heck are Intel and Oracle talking about? My guess is that they are using some or all of these encryption technologies. If so, why the marketing spin?
I've said it before and I'll say it again: The technology industry must abandon proprietary agendas and self-centered objectives and work together to collaborate on encryption and key management standards. My hope is that the Intel/Oracle announcement adheres to this philosophy. My fear is that it does not.
more.....
Intel, Oracle team on encryption to protect data in business 'clouds'
http://www.betanews.com/article/Intel_Oracle_team_on_encryption_to_protect_data_in_business_clouds/1222287132
Trusted Computing -- which is part of Intel's VT platform -- provides "hardware-rooted security" by integrating "new security features and capabilities into the processor, chipset, and other platform components," says a white paper on Intel's Web site.
It's Coming!!!!....
Oracle and Intel Team up To Improve Cloud Computing
http://www.efluxmedia.com/news_Oracle_and_Intel_Team_up_To_Improve_Cloud_Computing_25098.html
A key feature which will be thus enabled is what the companies are calling Trusted Computing; the technology, based on Intel’s VT, enables "hardware-rooted security" based on "new security features and capabilities into the processor, chipset, and other platform components," according to Intel. This will ensure private data can only be accessed by authorized applications, and that all activity will be tracked for purposes of auditing and compliance reporting. The companies will apply this technology with professional cloud computing solutions, ensuring the security of enterprises which rely on it.
Bertha, I think you are absolutely correct. e/
New WavExpress 8K!
On September 23, 2008, Wave Systems Corp. (“Wave”), Sarnoff Corporation (“Sarnoff”) and Wavexpress, Inc. (“Wavexpress”) entered into (i) a Restructuring Agreement and (ii) and Amended and Restated Stockholder Agreement. Please see Item 1.02 below for a description of the terms of the Restructuring Agreement and the Amended and Restated Stockholder Agreement.
Item 1.02 Termination of a Material Definitive Agreement
Pursuant to the terms of the Restructuring Agreement and the Amended and Restated Stockholder Agreement, among other things, (i) Sarnoff has converted all of its shares of Series A Convertible Preferred Stock, par value $0.0001 per share, of Wavexpress into shares of common stock, par value $0.0001 per share (“Common Stock”) of Wavexpress, (ii) Sarnoff will no longer have the right to designate members of the board of directors of Wavexpress, (iii) Wave will be entitled to designate all of the members of the board of directors of Wavexpress, and (iv) all joint venture and licensing arrangements with Sarnoff have been terminated. Wavexpress does not utilize any Sarnoff technology in its current business nor has Sarnoff played a significant role in the business of Wavexpress in recent years. Wave, therefore, believes that these restructuring arrangements, pursuant to which Sarnoff holds only Common Stock with limited minority shareholder provisions, are appropriate. As a result of the restructuring transactions, Wave now owns approximately 97.5% of the outstanding Common Stock of Wavexpress (determined on a fully diluted basis assuming the conversion of all options and warrants and all convertible notes held by Wave). Copies of the Restructuring Agreement and the Amended and Restated Stockholder Agreement are attached hereto as Exhibit 10.1 and Exhibit 10.2, respectively, and are incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
10.1
Restructuring Agreement, dated September 23, 2008, among Wavexpress, Wave and Sarnoff.
10.2
Amended and Restated Stockholder Agreement, dated September 23, 2008, between Wave and Sarnoff.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
WAVE SYSTEMS CORP.
By:
/s/ Gerard T. Feeney
Gerard T. Feeney
Chief Financial Officer
Dated: September 24, 2008
2
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EXHIBIT INDEX
Exhibit No.
Description
10.1
Restructuring Agreement, dated September 23, 2008, among Wavexpress, Wave and Sarnoff.
10.2
Amended and Restated Stockholder Agreement, dated September 23, 2008, between Wave and Sarnoff.
3
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Exhibit 10.1
RESTRUCTURING AGREEMENT
THIS RESTRUCTURING AGREEMENT dated as of September 23, 2008 (this “Agreement”), among WAVEXPRESS, INC., a Delaware corporation (the “Company”), SARNOFF CORPORATION, a New Jersey corporation (“Sarnoff”), and WAVE SYSTEMS CORP., a Delaware corporation (“Wave”). The parties listed in the preceding sentence shall be referred to herein, each as a “Party” and, collectively, the “Parties”.
WHEREAS, pursuant to that certain Joint Venture Agreement among the Parties, dated as of October 15, 1999 (the “Joint Venture Agreement”), the Company has issued to Sarnoff 386,666 shares of Common Stock, par value $0.0001 per share (“Common Stock”), of the Company and 2,840,000 shares of Series A Convertible Preferred Stock, par value $0.0001 per share (“Series A Preferred Stock”), of the Company in consideration for the license by Sarnoff to the Company of certain patents and related intellectual property pursuant to that certain Technology and Patent License Agreement, dated October 15, 1999 (the “Sarnoff License Agreement”), among Sarnoff and the Company; and
WHEREAS, the Parties desire to enter into this Agreement pursuant to which, among other things, (a) the provisions of the Joint Venture Agreement and the Sarnoff License Agreement will be terminated and (b) Sarnoff will convert all of its shares of Series A Preferred Stock into shares of Common Stock as set forth herein.
NOW THEREFORE, in consideration of the mutual agreements and covenants herein contained and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties agree as follows:
ARTICLE I
RESTRUCTURING ARRANGEMENTS
1.1. Termination of Joint Venture Agreement. The Joint Venture Agreement is hereby terminated in its entirety and, notwithstanding anything to the contrary therein, the Parties shall have no further rights, obligations or liabilities thereunder. Any and all rights of the stockholders of the Company under any of the provisions thereof are hereby waived and terminated and such provisions shall have no further force or effect.
1.2. Termination of Sarnoff Agreements. The Sarnoff License Agreement is hereby terminated in its entirety and, notwithstanding anything to the contrary therein, Wavexpress and Sarnoff shall have no further rights, obligations or liabilities thereunder. Further, the parties acknowledge and agree that that certain Development Agreement, dated October 15, 1999, by and between Sarnoff and the Company, has terminated and that the Company and Sarnoff have no further rights, obligations or liabilities thereunder.
1.3. Conversion of Sarnoff Preferred Stock. Pursuant to Section 3 of the Certificate of Designations of Series A Convertible Preferred Stock of the Company, Sarnoff hereby elects to convert all of its shares of Series A Preferred Stock into Common Stock on the date hereof. In accordance with such election, Sarnoff hereby tenders to the Company for conversion its share certificate representing all of the 2,840,000 shares of Series A Preferred
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Stock held by Sarnoff. Promptly following the execution and delivery of this Agreement by the Parties, and in full satisfaction of such conversion, the Company shall issue and deliver to Sarnoff a share certificate representing 946,667 shares of Common Stock.
1.4. Amended and Restated Stockholder Agreement. Simultaneously with the execution and delivery of this Agreement, the Parties shall execute and deliver the Amended and Restated Stockholder Agreement attached hereto as Exhibit A (the “Amended and Restated Stockholder Agreement”).
1.5. Stockholder Consent. Simultaneously with the execution and delivery of this Agreement, Sarnoff and Wave shall execute and deliver to the Company the Written Consent in lieu of a special meeting of the stockholders of the Company in the form of Exhibit B hereto.
ARTICLE II
MUTUAL RELEASE AND WAIVERS
2.1. Release by Wave and the Company. Each of Wave and the Company, on behalf of itself and its respective agents, representatives, successors and assigns (collectively, the “Wave Parties”) hereby RELEASES AND FOREVER DISCHARGES Sarnoff and its affiliates, parents, officers, directors, shareholders, interest holders, members, managers, employees, consultants, representatives, successors and assigns, heirs, executors and administrators (collectively, the “Sarnoff Released Parties”) from all causes of action, suits, debts, obligations, claims and demands whatsoever at law, in equity or otherwise (“Claims”), which any of the Wave Parties ever had or now has or hereafter may have, including, without limitation, those Claims arising from or relating in any way to Sarnoff’s status as a stockholder of the Company and the transactions and matters contemplated by the Joint Venture Agreement and the other Operative Agreements (as defined therein) (but excluding any claims arising after the date hereof in respect of obligations under this Agreement or the Amended and Restated Stockholder Agreement). The release contained in this Section 2.1 is effective without regard to the legal nature of the Claims raised and without regard to whether any such Claims are based upon tort, equity, implied or express contract or otherwise.
2.2. Release by Sarnoff. Sarnoff, on behalf of itself and its agents, representatives, successors and assigns (collectively, the “Sarnoff Parties”) hereby RELEASES AND FOREVER DISCHARGES Wave, the Company and their respective affiliates, parents, officers, directors, shareholders, employees, consultants, representatives, successors and assigns (collectively, the “Sarnoff Released Parties”) from all Claims which any of the Sarnoff Parties ever had or now has or hereafter may have, including, without limitation, those Claims arising from or relating in any way to (a) Sarnoff’s or Wave’s status as a stockholder of the Company, (b) the transactions and matters contemplated by the Joint Venture Agreement and the other Operative Agreements (as defined therein) or (c) the financing, management, operation and other activities of the Company at any time prior to the date hereof (including, without limitation, the issuance by the Company to Wave of convertible promissory notes in an aggregate original principal amount of approximately $71,600,000) (but excluding any claims arising after the date hereof in respect of obligations under this Agreement or the Amended and Restated Stockholder Agreement). The release contained in this Section 2.2 is effective without regard to the legal
--------------------------------------------------------------------------------
nature of the Claims raised and without regard to whether any such Claims are based upon tort, equity, implied or express contract or otherwise.
2.3. The Sarnoff Released Parties and the Wave Released Parties are intended to be third party beneficiaries of this Section 2 with full rights of enforcement.
ARTICLE III
REPRESENTATIONS AND WARRANTIES; TITLE TO SHARES
3.1. Representations and Warranties of the Parties. Each Party represents and warrants to the other Parties that, as of the date of this Agreement:
(a) Such party is a corporation duly organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation and has all requisite corporate power and authority necessary to enable it to use its corporate name and to own, lease or otherwise hold its properties and assets and to carry on its business as presently conducted in all material respects.
(b) Such party has all requisite corporate power and authority to enter into this Agreement and to consummate the transactions contemplated hereby. The execution and delivery by such party of this Agreement and the consummation by such party of the Transactions have been duly authorized by all necessary corporate action on the part of such party. This Agreement and the Amended and Restated Stockholder Agreement has been duly executed and delivered by such party and constitutes its legal, valid and binding obligations, enforceable against such party in accordance with their respective terms.
(c) The execution and delivery of this Agreement and the Amended and Restated Stockholder Agreement and the consummation of the transactions contemplated hereby and thereby will not (i) violate or conflict with any provision of the charter, by-laws or other governing documents of such Party, each as amended to date or (ii) constitute a material violation of, or be in conflict with, or constitute or create a default under, or result in the creation or imposition of any encumbrance upon any property of such Party pursuant to (A) any agreement or instrument to which the Party is a party or by which any of its properties is bound or (B) any law or legal requirement of any governmental authority.
(d) No person or entity is or will be entitled to any broker’s or finder’s fee or any other commission or similar fee from such Party in connection with any of the transactions contemplated hereby.
3.2. Title to Shares.
(a) Sarnoff represents and warrants that (i) it is the sole and exclusive owner, of record and beneficially, of 2,840,000 shares of Series A Preferred Stock, free and clear of any taxes, options, warrants, liens, purchase rights, contracts, commitments, equities, claims and demands (other than as contemplated by the Joint Venture Agreement and the Amended and Restated Stockholder Agreement) and (ii) other than as contemplated by the Joint Venture
--------------------------------------------------------------------------------
Agreement and the Amended and Restated Stockholder Agreement, (A) it is not a party to any option, warrant, purchase right, or other contract or commitment that would require it to sell, transfer or otherwise dispose of any equity interests in the Company and (B) it is not a party to any voting trust, proxy or other agreement or understanding with respect to the voting of any of its equity interests in the Company. Sarnoff acknowledges that it owns of record 386,666 shares of Common Stock and that it holds such shares for the benefit certain of its current or former employees. As between Sarnoff and the Company, Sarnoff shall be fully responsible for providing to such current or former employees any economic or other benefits that may be received by Sarnoff in respect of the shares of Common Stock and to which such current or former employees may be entitled. Sarnoff hereby agrees to indemnify and hold harmless the Company, Wave and their respective affiliates, parents, officers, directors, shareholders, employees, consultants, representatives, successors and assigns from any and all losses, damages, costs and expenses (including, without limitation, reasonable attorneys’ fees) arising out of claims of any third parties asserting or alleging any ownership, economic or other rights in respect of the Common Stock.
ARTICLE IV
GENERAL
4.1. Amendment. This Agreement shall not be amended except by a written instrument hereafter signed by each of the Parties.
4.2. Assignability. Neither this Agreement nor any of the rights or obligations hereunder shall be assignable by any Party to any other person or entity (whether by operation of law or otherwise) without the written consent of each of the other Parties and any purported assignment in violation of this Section 4.2 shall be void ab initio.
4.3. Notices. All notices, demands and other communications hereunder shall be in writing or by facsimile transmission, and shall be deemed to have been duly given if delivered personally or if mailed by certified mail, return receipt requested, postage prepaid, or if sent by overnight courier, or sent by facsimile transmission, to any particular Party at the address or facsimile number for such Party set forth on the signature pages hereto. Any such notice shall be effective (i) if delivered personally, when received, (ii) if sent by overnight courier, when receipted for, (iii) if mailed, five (5) days after being mailed as described above, and (iv) if sent by facsimile transmission, when dispatched.
4.4. Binding Effect. Every covenant, term, and provision of this Agreement shall be binding upon and inure to the benefit of the Parties and their respective successors and permitted assigns.
4.5. Construction. Every covenant, term and provision of this Agreement shall be construed simply according to its fair meaning and not strictly for or against any Party.
4.6. Headings. Section and other headlines contained in this Agreement are for reference purposes only and are not intended to describe, interpret, define, or limit the scope, extent, or intent of this Agreement or any provision hereof.
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4.7. Severability. Every provision of this Agreement is intended to be severable, and, if any term or provision of this Agreement is illegal or invalid for any reason whatsoever, such illegality or invalidity shall not affect the validity or legality of the remainder of this Agreement.
4.8. Variation of Terms. All terms and any variations thereof shall be deemed to refer to masculine, feminine, or neuter, singular or plural, as the identity of the person or persons may require.
4.9. Entire Understanding. This Agreement represents the entire understanding of the Parties with reference to the transactions contemplated hereby and thereby and supercede any and all other oral or written agreements heretofore made.
4.10. No Third Party Beneficiaries. Except as set forth in Section 2.3, nothing in this Agreement, express or implied, is intended to confer upon any person, other than the Parties and their respective successors and permitted assigns, any rights, remedies, obligations or liabilities under or by reason of this Agreement.
4.11. Survival; Indemnity. The covenants, representations and warranties contained herein shall survive the consummation of the transactions contemplated hereby. Sarnoff shall indemnify the Company, Wave and their respective affiliates, parents, officers, directors, shareholders, employees, consultants, representatives, successors and assigns from and against any and all claims, losses, damages, costs and expenses (including, without limitation, reasonable attorneys’ fees) arising out of any breach by Sarnoff of any of the covenants, representations or warranties of this Agreement or the Amended and Restated Stockholder Agreement.
4.12. Governing Law; Venue. THE VALIDITY, CONSTRUCTION AND PERFORMANCE OF THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK (WITHOUT REGARD TO THE CONFLICT OF LAW PRINCIPLES THEREOF). WITH RESPECT TO ANY LITIGATION ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY, THE PARTIES EXPRESSLY WAIVE ANY RIGHT THEY MAY HAVE TO A JURY TRIAL AND AGREE THAT ANY SUCH LITIGATION SHALL BE TRIED BY A JUDGE WITHOUT A JURY. EACH PARTY AGREES TO NON-EXCLUSIVE PERSONAL JURISDICTION AND VENUE IN THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK (AND ANY NEW YORK STATE COURT WITHIN THAT DISTRICT) AND FOR THAT PURPOSE.
4.13. Further Assurances. In addition to the actions, documents and instruments specifically required to be taken or delivered by this Agreement, the Parties shall take such other actions, and execute and deliver such other documents and instruments, as any other Party may reasonably request in order to effectuate and perfect the transactions contemplated by this Agreement.
--------------------------------------------------------------------------------
4.14. Counterpart Execution. This Agreement may be executed in any number of counterparts (including by electronic transmisison or facsimile) with the same effect as if all of the Parties had signed the same document. All counterparts shall be construed together and shall constitute one agreement.
[signature pages to follow]
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IN WITNESS WHEREOF, the Parties have signed and entered into this Agreement as of the day first above set forth.
WAVEXPRESS, INC.
By:
/s/ Michael Sprague
Name: Michael Sprague
Title: President
Address:
179 Franklin Street
Suite 509
New York, NY 10013
Fax No.: 212-645-0191
Attn: Gerard T. Feeney, as Vice President
SARNOFF CORPORATION
By:
/s/ Robert J. Levin
Name: Robert J. Levin
Title: Vice President
Address:
201 Washington Road
CN 5300
Princeton, NJ 08543-5300
Fax: 609-720-4801
wildman,
I've heard that the terms of the Acer deal are almost as good as the Dell deal. HP would cinch it!!