Wave Launches Cloud-Based Encryption Service

PRESS RELEASE

Lee, MA—January 30, 2012—Wave Systems Corp. (NASDAQ:WAVX http://www.wave.com) has launched Wave Encryption Service (WES), a scalable, yet powerful subscription-based service for data protection. Able to be deployed quickly and managed efficiently on demand, Wave’s new service allows organizations to centrally enforce strong data encryption policies on laptops across the organization to secure data and meet compliance regulations—without the complexity and cost associated with an on-premise solution.

WES manages a variety of client encryption solutions, including folder-level software encryption and Microsoft Bitlocker'. Notably, WES is the only Cloud-based service for managing Opal self-encrypting drives (SEDs), which offer security and performance benefits over other forms of encryption.

The service has earned favorable marks from one of its first customers. Salisbury Bank deployed the service in late 2011 for laptops used by the sales force and executive team. Salisbury Bank is a full-service community bank headquartered in Northwestern Connecticut, with locations in Western Massachusetts and in New York.

“What we really like about Wave Encryption Service is the simplicity it brings to protecting data on our laptops. It’s easy to set up, use and administer,” said Todd Clinton, Salisbury Bank’s Senior Vice President and Chief Technology Officer.

Clinton noted the easy-to-navigate console, which lets him set up alerts and run monthly reports on noteworthy events, such as the encryption status for specific computers by location. He also noted that the WES implementation helped the bank earn favorable marks during a recent independent security audit.

In addition to cost, scalability was important to Clinton.

“We evaluated solutions from other vendors,” he said, “but most had strict minimum seat requirements that we just didn’t meet. So the choice was pretty easy – plus Wave gave us the flexibility to manage multiple types of encryption as our needs change.”

Clinton is using WES to manage file and folder encryption for now, but he anticipates adding SEDs on new platforms in the future.

Brian Berger, Wave’s Executive Vice President of Marketing and Sales, noted that WES is an option for both small and medium businesses and the enterprise.

“Some data protection laws on the state and federal level mandate encryption at the endpoint, no matter how big or small the business or the size of its IT budget,” Berger said. “The Wave Encryption Service is designed to provide the same compliance-grade security of an on-premise solution, without the complexity or cost. It can eliminate the need to install or maintain third-party software and can be implemented securely in the Cloud. We believe it is an ideal alternative for the cost-conscious SMB and the enterprise.”

The Wave Encryption Service Advantage:

On-demand encryption management. Simply point and click Automatic configuration of leading encryption technologies via a single Web interface: SEDs from all the leading storage vendors Microsoft BitLocker – Microsoft’s encryption application included in Windows 7. File and folder encryption Business ready with pre-configured compliance security policies Transparent to users. Optimized for business with subscription-based payment options

More details on WES are available here.

About Wave Systems

Wave Systems Corp. (NASDAQ: WAVX) reduces the complexity, cost and uncertainty of data protection by starting inside the device. Unlike other vendors who try to secure information by adding layers of software for security, Wave leverages the security capabilities built directly into endpoint computing platforms themselves. Wave has been a foremost expert on this growing trend, leading the way with first-to-market solutions and helping shape standards through its work as a board member for the Trusted Computing Group.