This is another in the series of Seeking Alpha interviews with CEOs of public companies of interest to our readers. These, however, are interviews with a twist: the executive has agreed to answer questions and respond to comments not from a single interviewer, but rather from our community of readers and contributors.
This interview is with Steven Sprague, CEO of Wave Systems Corp. (NASDAQ:WAVX) a leader in a new approach to software and services that make your computer more secure and user-friendly, based on an industry standard called Trusted Computing. (See the latest WAVX earnings call transcript and conference presentation for more background on the company.) Wave Systems has sponsored this interview, which works like this:
- Steven briefly introduces himself and the issues he's focused on below.
- Readers and contributors can immediately start to post questions and remarks using the comment box below (Note: you need to sign up for free registration and be logged in to do so).
- Seeking Alpha editors will not filter or edit the questions and comments from readers, except to delete insulting or overly aggressive language.
- Steven has agreed to respond to the questions and remarks over the next three days, and will begin posting answers to readers' questions on Monday, March 26th. Readers can track his answers and respond to them during that period, with the resulting dialogue remaining on the site.
- Readers can respond to his responses during that time.
Greetings and thank you. I’m Steven Sprague, CEO of Wave Systems Corp.
Thanks to Seeking Alpha for providing this opportunity to chat directly with our target customers: people who have a PC and Internet access - the audience our security solutions address. Today, we are focusing on the enterprise market, but we expect the concept and technology behind Trusted Computing standards to be extended to the consumer market in the future.
In a nutshell, Wave Systems provides software solutions that support an industry standard for PC security and trust. The standard was developed by the Trusted Computing Group ("TCG"), www.trustedcomputinggroup.org, an industry standards body consisting of approximately 160 member companies, including PC industry leaders such as AMD, Hewlett-Packard, IBM, Intel, Lenovo, Microsoft, Dell, NEC, Phoenix, RSA, Samsung, SanDisk, Seagate, Sony, Toshiba, VeriSign, etc.
The TCG has developed a new approach to PC security that involves the placement of an industry standard security chip - a Trusted Platform Module ("TPM") - on a PC motherboard. The chip provides a secure location within the PC where secrets, such as encryption keys, passwords and PINs are stored securely, outside of the prying eyes of hackers or rogue viruses seeking to capture your high value information. Wave’s software works with each TPM, and enables a range of security and authentication functions. To get a flavor for what this could mean, imagine a future without user IDs and passwords and the data on your PC is always safe from theft; that’s the vision of trusted computing. Wave also produces server software that enables an enterprise to deploy, manage and optimize the use of trusted computing solutions. To date, we have established revenue-generating relationships with Dell, Intel, Seagate & Gateway, as well as with four of the leading TPM manufacturers.
The TCG standard chips have already shipped on over 50 million PCs worldwide. Industry analysts predict an accelerating shipment level for TPM-enabled PCs and expect that virtually all enterprise or consumer PCs will ship with a TPM.
We believe that Trusted Computing represents an enormous sea-change in the way business and consumers will protect their PCs, data and e-commerce interactions. Further, we think now is the time for investors to start to examine this trend and see how it might affect investments you may have in the PC, security, e-commerce, networking and related industries.
Of course, we are also eager to explain our role and competitive position in this trend and look forward to your questions.
This Q&A represents the opinion of Wave Systems management and is not intended to be a forecast of future events, a guarantee of future results nor investment advice. Except for the statements of historical fact, information presented herein may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to fund operations, the ability to forge partnerships required for deployment, the speed of adoption of trusted computing technologies, changes in consumer and corporate buying habits, chip development and production, the rapid pace of change in the technology industry and other factors over which Wave Systems Corp. has little or no control. Wave Systems assumes no obligation to publicly update or revise any forward-looking statements provided in this Q&A, or to correct any erroneous information presented in any investor questions herein.
Yahoo! Finance readers can leave questions and view Steve's answers by viewing the original article on Seeking Alpha.