Wave Ranked 73rd Fastest Growing North American Company on Deloitte’s 2010 Technology Fast 500™

 

Lee, MA October 21, 2010 — Wave Systems Corp. (NASDAQ:WAVX www.wave.com) today announced that it ranked number 73 on Technology Fast 500™, Deloitte’s ranking of 500 of the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. Rankings are based on percentage of fiscal year revenue growth during the period from 2005–2009. Wave’s revenue grew 1,755 percent during this period.

Wave’s President and CEO, Steven Sprague, attributed the five-year revenue growth to its expanding base of endpoint security solutions. 

“Wave’s placement on Deloitte’s Technology Fast 500TM for the third year in a row reflects growing global awareness and support for hardware-based PC security,” Sprague said.  “Over the last 12 months we have added several prominent customers, including a ‘Big Three’ automaker and one of the most widely recognized accounting and professional service firms in the world. We’ve achieved these milestones while continuing to gain traction in verticals such as healthcare and financial services where data security and authentication solutions are mission critical. In addition, we expanded our OEM footprint with a new partnership with a leading PC OEM.”

“Wave and the other 2010 Technology Fast 500™ winners forged ahead in a challenging economic environment to realize exceptional growth,” said Phil Asmundson, Vice Chairman and Deloitte’s U.S. technology, media and telecommunications leader. "Deloitte commends Wave for this impressive accomplishment.”

“Wave has proved itself to be one of the fastest growing tech companies in North America, and we are proud to honor them as one of the 2010 Technology Fast 500™,” said Mark Jensen, Managing Partner, Venture Capital Services, Deloitte & Touche LLP.

As Senior Vice President and Chief Scientist at Wave Systems, Dr. Robert Thibadeau is a frequent speaker sharing expertise from his industry leadership—driving advancements in security, encryption and storage technologies. Prior to joining Wave, he was Chief Technologist at Seagate Technology, LLC, and developed the drive innovation now known as self-encrypting drives. Thibadeau was also the Chair of the Storage Workgroup in the Trusted Computing Group, and a founding director of the Robotics Institute at Carnegie Mellon University.

About Deloitte
As used in this document, “Deloitte” means Deloitte LLP. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries.

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About Wave Systems Corp.

Wave is a pioneer in hardware-based PC security that provides software to help solve critical enterprise PC security challenges such as data protection, strong authentication, network access control and the management of these enterprise functions.  Wave is a founding member of the Trusted Computing Group (TCG), a consortium of more than 100 companies that forged open standards for hardware security.  Wave’s EMBASSY® line of client- and server-side software leverages and manages the security functions of the TCG’s industry standard hardware security chip, the Trusted Platform Module (TPM) as well as hard drives that comply with TCG’s “Opal” self-encrypting drive (SED) standard.  Self-encrypting drives are a growing segment of the data protection market, offering increased security and better performance than most existing software-based encryption solutions.  TPMs are standard equipment on many enterprise-class PCs shipping today and have shipped on an estimated 300 million PCs worldwide.  Using TPMs and/or SEDs and Wave software, enterprises can substantially and cost-effectively strengthen their current security solutions.  Visit http://www.wave.com for more information.

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This press release may contain forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act), including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the company, its directors or its officers with respect to, among other things: (i) the company’s financing plans; (ii) trends affecting the company’s financial condition or results of operations; (iii) the company’s growth strategy and operating strategy; and (iv) the declaration and payment of dividends.  The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend" and similar expressions and variations thereof are intended to identify forward-looking statements.  Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the company’s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors.  Wave assumes no duty to and does not undertake to update forward-looking statements.

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Wave Systems Corp.
Michael Wheeler
413-243-7026
mwheeler@wavesys.com