Wave Signals Middle East Expansion With Signing of QWAED Technologies
Leading Saudi Arabian IT Consultant Agency Champions Trusted
Computing Standards With Selection of Wave
LEE, MA -- (Marketwired) -- 05/28/13 -- Wave Systems Corp. (NASDAQ:
WAVX), the Trusted Computing Company, announced it has entered into
an agreement with QWAED Technologies in Riyadh, Saudi Arabia to sell
Wave's innovative solutions for managing security and data
protection. This agreement symbolizes significant growth in the
Middle Eastern market and a growing adoption of Trusted Computing
"Cyber threats have become a global epidemic," said Zeyad Albattal,
CEO, QWAED Technologies. "Wave provides an innovative approach that
builds on industry-standard hardware built directly into the
endpoint. This gives QWAED the opportunity to do what it does best --
quickly and effectively deploy a trusted IT security strategy that
offers best-in-class protection for our customers."
QWAED's customers are faced with increasingly dangerous cyber
threats. Last year, cyberattacks halted crude oil and gas supplies,
and crippled the operations of Middle East's largest oil and gas
companies. These attacks, which compromised more than 30,000
computers, sent shockwaves throughout the Middle East -- heightening
cybersecurity awareness throughout the region.
With Wave's comprehensive portfolio of innovative solutions for
managing data protection, authentication and malware detection
(Wave's software security management and Scrambls for securing the
cloud and social media), QWAED can deliver secure business solutions
to their clients, which will empower them to:
-- Make device safe to lose. Wave manages Opal self-encrypting drives
-- Safely and securely encrypt files uploaded to cloud storage services
like Dropbox(TM) or Microsoft SkyDrive(TM).
-- Eliminate passwords. Enable virtual smartcards for second factor
authentication or protect credentials while using Microsoft
-- Ensure that only known devices are allowed on known networks. Wave
establishes persistent device identity that can't be spoofed.
"Wave's end point security protection enables QWAED to provide secure
solutions in major sectors across Saudi Arabia," said Joseph Souren,
Vice President and General Manager for Wave. "Our data protection
solutions simplify authentication and encryption, while working
within the Trusted Computing framework -- helping QWAED offer its
clients the highest level of protection."
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
About QWAED Technologies
Riyadh, Saudi Arabia-based QWAED
Technologies is a consulting and service company specializing in
information technology and major infrastructure service sectors
throughout Saudi Arabia. QWAED is a project management office company
that works in several areas, including IT business solutions,
software integration, OEM and security. The company is strategically
aligned with international partners such as Fujitsu and has also
worked with several government authorities, such as the Royal Guard,
the Ministry of Defence, the Ministry of Interior, and the Saudi
Telecom Company (STC).
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contain forward-looking information within the meaning of the Private
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