Two-Factor Device Authentication to Enable Secure Remote Access and Trusted Peer-to-Peer Computing
Mountain View, CA and San Jose, CA, February 20, 2002 - VeriSign, Inc. (Nasdaq: VRSN), the leading provider of digital trust services, and Phoenix Technologies Ltd. (Nasdaq: PTEC), a global leader in device-enabling and management software products for connected digital devices, today announced a revolutionary new solution to provide strong “two-factor” authentication solutions to enterprises based on Phoenix FirstAuthorityTM device authentication architecture and the native integration of VeriSign “root keys” with the next version of Phoenix’s industry-leading Phoenix FirstBIOSTM.
This collaboration, tied to Phoenix’s POST2.0 Trusted Device InitiativeTM and VeriSign’s new Digital Trust Services framework, will enable enterprises to securely store user or device identities directly in hardware — such as desktops, laptops or palmtops — transforming these devices into digital “ID cards.” These ID cards then can be used for secure sign-on, secure remote access, trusted peer-to-peer computing and other high-value applications.
“The ubiquitous network authentication service is joining the ubiquitous electronic footprint,” said Jim Hurley, vice president of security and privacy for Aberdeen Group. “This collaboration between VeriSign and Phoenix will make digital commerce and communications much safer and easier for businesses and consumers.”
The new solution combines VeriSign’s industry-leading managed PKI services — which enable enterprises to issue digital certificates used for user authentication, digital signatures and data encryption — with Phoenix’s FirstAuthority architecture and market-leading BIOS products, which have enabled hundreds of millions of PCs worldwide to date. The BIOS (Basic Input/Output System), which is required software in all microprocessor systems, starts, configures, and shuts down computers. Through an “opt-in” enrollment process, enterprises and their users can choose to bind a digital identity to a device itself, providing enormously improved security while respecting privacy concerns. By combining VeriSign root keys and managed PKI technology with the Phoenix FirstAuthority architecture and Regional Device Authority services, the two companies are helping to create a whole new class of device-authentication solutions for e-Business.
“Building digital authentication into the BIOS gives users a level of native security that, previously, was only achievable with specialized hardware,” said Anil Pereira, senior vice president and group general manager of VeriSign’s enterprise and service provider division. “This approach provides a quicker and more cost-effective way for securing applications ranging from remote network access to digital document signing and secure messaging.”
“With our FirstAuthority device authentication solution, FirstBIOS not only starts, configures, and shuts down the PC, but also secures it. This creates a platform of trust at the end points of the network to dramatically improve network security in a seamless and cost-effective way,” said Kendall S. Larsen, Senior Vice President and General Manager of Business Development, Phoenix Technologies. “By partnering with VeriSign, we can provide customers with a higher level of built-in security at the core, making the PC the token and enabling enterprises to confidently conduct business over the Internet.”
The Phoenix-VeriSign solution works by embedding the underlying Phoenix device keys and the VeriSign “root keys” directly into the firmware of PCs or other digital devices using Phoenix StrongROMTM technology. To use their credentials, users must not only know their usernames and passwords, but they must be using their own PC, laptop or other BIOS-enabled device. Even if an intruder gets a complete copy of the user’s hard disk, along with their usernames and passwords, the user’s credentials will not be accessible. This level of security could previously only be achieved by using separate hardware security devices, such as tokens or smart cards, but will now be intrinsic to the computer by being built into the BIOS.
About VeriSign
VeriSign, Inc. (Nasdaq:VRSN) is the leading provider of digital trust services that enable everyone, everywhere to engage in commerce and communications with confidence. VeriSign's digital trust services create a trusted environment through three core offerings- name, security and transaction services - powered by a global infrastructure that manages more than 5 billion network connections and transactions a day. Additional news and information about the company is available at www.verisign.com .
Statements in this announcement other than historical data and information constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve risks and uncertainties that could cause VeriSign's actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others: VeriSign's limited operating history under its current business structure; the risk that the VeriSign and Illuminet businesses will not be integrated successfully and unanticipated costs of such integration; uncertainty of future revenue and profitability and potential fluctuations in quarterly operating results; failure of the combined company to retain and hire key executives, technical personnel and other employees; failure of the combined company to manage its growth and the difficulty of successfully managing a larger, more geographically dispersed organization; failure of the combined company to successfully manage relationships with customers, suppliers and strategic customers; network outages, network capacity constraints or security breaches; failure of the combined company's customers to accept new services or to continue using the products and services of the combined company; and competition in the various markets serviced by the combined company. More information about potential factors that could affect the company's business and financial results is included in VeriSign's filings with the Securities and Exchange Commission, especially in the company's Annual Report on Form 10-K for the year ended December 31, 2000, Registration Statement on Form S-4 filed on October 10, 2001 and Quarterly Reports on Form 10-Q for the quarters ended March 31, June 30, 2001 and September 30, 2001. VeriSign undertakes no obligation to update any of the forward-looking statements after the date of this press release.
VeriSign is a registered trademark of VeriSign, Inc. Other names may be trademarks of their respective owners.
About Phoenix
Founded in 1979, Phoenix Technologies (NASDAQ: PTEC) helped launch the digital revolution when it created the industry's leading machine-independent BIOS software, which ships in more than 100 million new systems each year. Phoenix continues to leverage that core-level experience to develop many other vital solutions at multiple points in the foundation of PCs and other digital devices. Today, Phoenix solutions activate, secure, connect, and recover the world's best-known systems. These solutions operate from a Core Managed Environment (cME), where they're built in and protected from viruses, user errors, hackers, and corruption. Phoenix is headquartered in San Jose, Calif. USA (Silicon Valley), with offices in global business and technology centers. For more information about Phoenix Technologies, visit our website at http://www.phoenix.com/
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:
With the exception of historical information, the statements set forth above include forward-looking statements that involve risk and uncertainties. Factors that could cause actual results to differ materially from those in the forward-looking statements include but are not limited to significant increases or decreases in demand for Phoenix products, increased competition, lower prices and margins, instability and currency fluctuations in international markets, timing and recognition of revenues, and failure to recruit and retain key employees. These factors are also discussed in the Company's filings with the Securities and Exchange Commission, including its recent filings on Form 10-K, filed December 5, 2001.
Phoenix and Phoenix Technologies are registered trademarks of Phoenix Technologies. All other trademarks are the property of their respective owners.
