Wave Systems Corp. (fka WAVXQ)

[rachelelise]

AWKn - a few thoughts

I was suprised by the estimated TPM shipment numbers in 2006 in the IDC presentation. The number of desk tops was a lot lower than I thought - the laptops had a much higher level of penetration. Makes the Winbond and Broadcom relationships a bit more important if true. There was a note that the discrete TPM would be 10 to 20 % of the market and it is sold as being more resistant to hacking and a potential requirement for a higher security level rating. That could be the rational for Dell to go discrete and then pick STM becasue of their working with Wave.

Ultimaco has been noted as a potential partner with Wave. I can see how that might strengthen the overal offering but is that going to conflict with Seagate?

The Seagate presentation was good for Wave.