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SanDisk and VeriSign Partner To Extend Consumer Authentication Capabilities to Flash Memory Devices

  • 14 February, 2006 09:10

<p>VeriSign, Inc., (NASDAQ: VRSN), the leading provider of intelligent infrastructure services for Internet and telecommunications networks, and SanDisk® Corporation (NASDAQ: SNDK) today announced a strategic partnership that calls for the two companies to collaborate on providing a non-intrusive, easy to use solution to protect consumers against online identity theft.</p>
<p>Under terms of the partnership, SanDisk will embed VeriSign® Identity Protection (VIP) Service capability and Open Authentication (OATH) compliant One-Time-Password (OTP) algorithms into their main suite of USB flash device products. The solution will enable consumer-friendly two-factor authentication for end users who purchase SanDisk mass-storage devices at retail outlets and then use them at VIP-enabled web sites.</p>
<p>By embedding VeriSign’s strong authentication capabilities into SanDisk devices, consumers will gain new security functionality in already ubiquitous devices used to store personal images, information and music. Enterprises, such as financial services institutions and e-commerce merchants who are members of the VIP network, will gain users of enhanced security solutions without the costs associated with the purchase and distribution of proprietary two-factor authentication tokens.</p>
<p>“The addition of strong authentication services from VeriSign will greatly augment the extensive storage capabilities of our SanDisk devices and provide a level of ‘out of the box’ consumer online identity protection,” said Carlos Gonzalez, Senior Director of Consumer Marketing, SanDisk Corporation. “Through our partnership with VeriSign, our flash devices will contain a capability previously unavailable – at no additional cost to consumers.”</p>
<p>Announced earlier today, VeriSign Identity Protection is a modern approach to combating digital identity theft targeted at both consumers and online services that enables the use of strong authentication across multiple Web sites by promoting a shared authentication network approach. With VIP, the same authentication device will work across any network member sites, leveraging a shared infrastructure and enabling everyday devices in consumer hands to become authentication devices.</p>
<p>“The integration of VIP services, OATH-compliant open-standards-based OTP algorithms and SanDisk flash devices will create an entirely new distribution channel for two-factor authentication services” said Nico Popp, vice president, Authentication Services, VeriSign Security Services. “Consumers will now be able to purchase mass-storage devices with two-factor authentication capabilities at ‘Big-Box’ consumer and electronic stores and immediately use it to protect their online interactions with financial institutions and e-commerce sites that are part of the VIP network.”</p>
<p>About VeriSign</p>
<p>VeriSign, Inc. (Nasdaq: VRSN), operates intelligent infrastructure services that enable and protect billions of interactions every day across the world’s voice and data networks. Additional news and information about the company is available at</p>
<p>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, the uncertainty of future revenue and profitability and potential fluctuations in quarterly operating results due to such factors as the risk that VeriSign's announced strategic relationships, including the relationship with SanDisk, may not result in additional products, services, customers, profits or revenues; and increased competition and pricing pressures. 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, including in the company's Annual Report on Form 10-K for the year ended December 31, 2004 and quarterly reports on Form 10-Q. VeriSign undertakes no obligation to update any of the forward-looking statements after the date of this press release.</p>
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