Reuter's Overview:
Wave Systems Corp. (Wave), incorporated on August 12, 1988, develops, produces and markets products for hardware-based digital security, including security applications and services that are complementary to and work with the specifications of the Trusted Computing Group (TCG), an industry standards organization consisted of computer and device manufacturers, software vendors and other computing products manufacturers. Specifications developed by the TCG are designed to address a range of digital security issues. These issues include identity protection, data security, digital signatures, electronic transaction integrity, platform trustworthiness, network security and regulatory compliance.
Client-side Applications
The EMBASSY Trust Suite consists of a set of applications and services that is designed to bring functionality and user value to Trusted Platform Module (TPM)-enabled products. The EMBASSY Trust Suite includes the EMBASSY Security Center (the ESC), Trusted Drive Manager (TDM), Document Manager (DM), Private Information Manager (PIM) and Key Transfer Manager (KTM). The ESC enables the user to set up and configure the TPM platform. In addition to the basic function of making the TPM operational, ESC is designed to enable the user to manage extended TPM-based security settings and policies, including strong authentication, Windows logon preferences to add biometrics and streamlined password policy management. In January 2009, the TCG published storage specifications for another hardware component, the self-encrypting drive (SED). Trusted Drive Manager is the software utilized for managing SEDs. SEDs are designed to provide advanced data protection technology and they differ from software-based full disk encryption in that encryption takes place in hardware, in a manner designed to provide a more robust security without slowing processing speeds.
Data Protection is addressed by the DM, which provides document encryption, decryption and client-side storage of documents. The DM, which works with Microsoft Windows, and Microsoft Office, secures documents against unauthorized users and hackers. Wave’s software is Windows 7 and Vista ready and builds upon the operating systems data protection feature sets, providing EMBASSY solutions for data protection and strong authentication. PIM uses the TPM to securely store and manage user information, such as user names, passwords, credit card numbers and other personal information. It retrieves login information to fill in applications, Web forms and Web login information.
KTM is an archive application for the cryptographic keys that is designed to provide a method to archive, restore and transfer keys, having the property of being migratable, that are secured by the TPM. In addition, Wave has developed TPM Wizards as part of the EMBASSY Trust Suite, which allow users to setup and use the TPM for securing 802.11x wireless networks, the Windows Encrypting File System and encrypted e-mail.
Middleware and Tools
The Wave TCG-Enabled Toolkit is a compilation of software designed to assist application developers writing new applications or modifying existing ones to function on TCG-compliant platforms. Wave provides two versions of the Toolkit, Discovery and Commercial, which enable developers to leverage basic and enhanced TCG services, such as integrated key lifecycle management, including key escrow and key recovery. The Discovery Toolkit offers application developers a license for internal evaluation only, whereas the Commercial Toolkit is a license for external redistribution.
The Company offers a TCG-enabled Cryptographic Service Provider (CSP), which allows software developers to utilize the security of a TCG standards-based platform, facilitating a common user experience independent of the platform. It also enables applications to utilize functionality available on TCG-compliant platforms directly through the Microsoft cryptographic application programming interface, without requiring user knowledge of any specific TCG software stack layer.
EMBASSY Trust Server Applications
EMBASSY Key Management Server (EKMS) is a server application that is designed to provide corporate-level backup and transition of the TPM keys, a process known as key migration. Key migration using EKMS is designed to help prevent the risk of serious data loss in the event that a TPM, hard drive or motherboard becomes corrupted, or a user leaves the organization. EKMS enables enterprise-level key protection services, while ensuring proper archive procedures and recovery capabilities. EMBASSY Authentication Server (EAS) provides centralized management, provisioning and enforcement of multifactor domain access policies. With EAS, authentication policies can be based on TPM credentials, Smart Card credentials, user passwords and fingerprint templates. With EAS, authentication policies can be provisioned and managed from the domain controller. EAS has an integrated biometric template capability with support for a variety of third-party vendors.
EMBASSY Remote Administration Server (ERAS) is a server product that provides centralized management and auditing of TPMs and SEDs. ERAS is designed to give information technology (IT) administrators the ability to deploy and remotely manage SED and TPM systems, including initialization, pre-boot authentication management, recovery, and repurposing of TPMs and SEDs. ERAS is designed to provide auditing capabilities that aid in compliance management by allowing for validation of TPM and SED security settings.
Electronic/Digital Signature and Electronic Document Management
The Company’s eSign Transaction Management Suite (eTMS) consisted of four core products: SmartIdentity, SmartSignature, SmartSAFE and SmartConnect. SmartSignature Version 3.0 is a digital signature application that connects signers and institutions, such as banks, insurance companies and enterprises, through a digital signature process. Wave’s SmartSignature Server 4.02.02, a server-side electronic signature application, enables individuals to electronically sign and store virtually any format of document, while connected to a server, as opposed to the signing taking place on the client personal computer (PC).
Wave's SmartSigning Rooms Version 2.03 was designed to enhance the functionality of SmartSAFE, enabling an organization to offer signers a secure virtual environment to review, annotate and electronically sign documents. SmartClose also offers lenders protection against borrowers claiming not to have understood their debt obligation by requiring the borrower to electronically sign and initial key line items, while providing audit capabilities for the entire transaction. Wave's SmartSignature is designed for the support of TPMs. SmartSAFE Version 5.0.3h is a Web-based document management application where signed documents are archived and tracked.
Broadband Media Distribution Services
Wave offered broadband content distribution products and services through Wavexpress and its TVTonic consumer media service, which was a joint venture between Wave and Sarnoff Corporation. As of December 31, 2009, Wave owned 97.3% of Wavexpress, while Sarnoff owned 1.7% (on a fully diluted basis).
The Company competes with RSA Security, Inc., Symantec, Computer Associates, Verisign, Inc., Entrust, Inc., Sophos, SafeNet, IBM, HP, EDS, Softex, Phoenix, Infineon, Microsoft, Checkpoint, Credant, PGP, McAfee, Secude, WinMagic and GuardianEdge.
