Wave Systems Corp. (fka WAVXQ)

[rachelelise]

Micro

This is an excellent example of where we either get ahead of ourselves and presume too much or it's so obvious that we shouldn't ask.

All that I know is that Wave and Hitachi have discussed support for TPMs as a result of their successful work with Seagate. We have seen no indication that Wave and Hitachi have actually worked together in a contractual sense and in the recent conference call, SKS specifically said we do not have a deal as of now.

While I would be inclined to think Hitachi would not try to recreate everything Wave did, I also am not convinced that Hitachi, today, sees the same trusted framework that we discuss here all the time. At this point, they could be focused on just engineering a drive with an option to encrypt or not to encrypt with some other key support and waiting to see how the market evolves.