Wave Systems Corp. (fka WAVXQ)

[RootOfTrust]

Wave's plan is that as hardware FDE and TPMs beccome standard components of PC platforms, the enterprise security market will transition from one based on after-market software for functions like data-protection to a market based on security integrated into the platforms provided by PC OEMs.

New Wave, that is a good point. Danbury encryption is built into the chipset and could well evolve into an Intel standard feature, and perhaps the future is for FDE drives to become standard as well. Thus the future is for hardware-based encryption to become standard vs. being today's upgrade. And an advantage Wave is building today in enabling the Dell platform is that Wave's client software enables certain hardware features like pre-boot or hibernation features for FDE drives (probably for Danbury as well), features Wave's ISV FDE competitors can't provide because they aren't embedded in the Dell hardware as Wave is.

I believe your point above though is that even when "after-market" options like FDE become standard integration into PC OEM platforms, that the biggest revenue for the ISVs will still be in selling enterprise solutions (upselling to the enterprise). In providing enterprise solutions for managing hardware-based security devices (currently TPMs, FDE drives and Danbury FDE), the ISV whose server products can interoperate across all devices, managing all of them (including the keys), will be the ISV who can best compete against the others. Without a doubt Wave is the current leader.