Financial Institutions and Others to Benefit from Integration of VeriSign
Wireless Trust Services and SmartTrust Wireless PKI Technology
SAN JOSE, Calif., RSA Conference, Jan. 17 /PRNewswire/ -- VeriSign, Inc.
(Nasdaq: VRSN), the leading provider of Internet trust services, today
announced the signing of a letter of intent with Sonera SmartTrust
(Nasdaq: SNRA), the leading provider of security solutions for wireless
e-commerce based on public key infrastructure (PKI), to integrate VeriSign's
new wireless trust services into mobile phones with Sonera's leading wireless
PKI technology. The joint solution will provide mobile service providers,
banks, brokerages and other institutions with the ability to deliver strongly
authenticated and non-reputable transactions over wireless networks.
SmartTrust has named VeriSign as one of its global PKI partners.
"Online banks, brokerages, healthcare, and telecommunications providers
are gearing up to deploy the next generation of e-commerce applications over
wireless networks," said Anil Pereira, vice president of VeriSign's Internet
services group. "Through our partnership with Sonera SmartTrust we are able
to provide a best-of-breed solution which marries the power of smart phones
with the scalability and flexibility of our managed certificate services for
the wireless world."
Sonera SmartTrust is the first company in the world to embed PKI security
functionality into the SIM card of a mobile phone and is committed to
developing and implementing flexible and interoperable systems for secure
banking, brokerage and other high-value applications based on their technology
and VeriSign's leading wireless trust services. Through this joint solution,
mobile operators will be able to offer their customers a whole new set of
secure wireless e-commerce solutions, backed by strong authentication,
encryption and non-repudiable digital signatures. The SmartTrust-VeriSign
solution allows mobile providers to issue digital certificates stored on
directories to mobile subscribers whose private keys are stored on advanced
SIM cards. Digital certificates are electronic credentials used to identify
parties on the Internet and enable secure, verifiable electronic transactions
and communications.
"The wireless e-commerce business model requires legally binding,
completely private, encrypted and secure transactions between all parties,"
said Mr. Harri Vatanen, CEO and President of Sonera SmartTrust Ltd. "Working
with VeriSign we will offer solutions for services such as secure banking,
stock trading, and other transactions with the required level of trust and
assurance."
VeriSign and Sonera SmartTrust will provide an open security
infrastructure, giving service providers a platform to build a wide range of
services quickly. By implementing this solution, these service providers are
able to launch new services, differentiate their offerings, increase their
visibility, and attract the best customers and partners.
Analysts predict explosive growth for the mobile device market in the next
few years, with most predicting 1 billion mobile phones in use within the next
three to four years. According to Gartner Group, mobile phones are expected
to be the most common client device worldwide by 2005. In July, Ovum reported
that smart phones and data-centric terminals will account for as much as two
thirds of the estimated $67 billion handset market in 2004. These devices,
merging voice and data capabilities in an accessible and easy-to-use handset,
provide the ideal platform for delivering high-value wireless services for
mass consumer use.
About VeriSign
VeriSign, Inc. (Nasdaq: VRSN) is the leading provider of Internet trust
services -- including authentication, validation and payment -- needed by Web
sites, enterprises and e-commerce service providers to conduct trusted and
secure electronic commerce and communications over IP networks. VeriSign's
trust services for Web sites, developers and individuals are available through
http://www.verisign.com and through a growing number of ISPs and Web hosting
companies. The company's digital certificate services for enterprises and
electronic commerce service providers are available through regional account
representatives, resellers, and global affiliates.
About Sonera SmartTrust
Sonera SmartTrust Ltd., a wholly owned subsidiary of Sonera, is a global
leader in wireless e-commerce services and solutions based on Public Key
Infrastructure (PKI). More information on Sonera SmartTrust can be found at
http:/www.smarttrust.com.
About Sonera
Sonera is an international forerunner in mobile, data and media
communications, with subsidiaries and associated companies in 14 countries.
Sonera is listed both on Helsinki Exchanges (SRA) and on Nasdaq (SNRA).
Sonera's vision is to become one of the world's leading mobile-based
communications operators providing mobile communications services to which a
large selection of content and transaction services are connected. In 1998,
Sonera's revenues amounted to USD 1.9 billion and the profit before
extraordinary items and taxes was USD 404 million. Information about Sonera
can be found on the Internet at
This press release contains forward-looking statements, including but not
limited to VeriSign's and Sonera SmartTrust's ability to integrate VeriSign's
new wireless trust services into mobile phones with Sonera's technology and to
achieve the other beneficial synergies described above and the future of the
mobile device market. Such statements involve a number of risks and
uncertainties. Among the important factors that could cause actual results to
differ materially from those indicated by such forward-looking statements are
delays in product development, technical difficulties, software bugs and
errors, competitive pressures, changes in customer requirements, failure to
develop or maintain strategic partner relationships, market acceptance of new
technologies and technological changes in the computer industry. More
information about potential factors which could affect VeriSign, see the final
prospectus for VeriSign's follow-on offering dated January 26, 1999 and
VeriSign's reports filed with the SEC. Neither Sonera SmartTrust nor VeriSign
assumes any obligation to update the forward-looking information contained in
this press release.
VeriSign is a registered trademark exclusively licensed to VeriSign, Inc.
VeriSign OnSite service mark of VeriSign, Inc. All other trademarks are
properties of their respective owners.
SOURCE VeriSign, Inc.
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Related links:
http://www.verisign.com
CONTACT:
Jeff Wenker of Edelman Public Relations
Worldwide, 650-429-2768, jeff_wenker@edelman.com, for VeriSign
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