Business Summary excerpt from SEC filing dated: June 27, 2006
We are a global provider of security solutions that reduce software theft, strongly authenticate network users and protect against unwanted Internet- and e-mail-borne content, including spam and viruses. Our products are organized into two segments: software digital rights management, or DRM, and enterprise security. Our software DRM solutions allow software publishers to limit revenue loss from software theft and piracy. Our enterprise security solutions enable organizations to secure their information technology assets by controlling who has access to their networks and applications (authentication) and what content their users can utilize (content security).
Our software DRM product line, HASP, offers a comprehensive solution for the protection, licensing and distribution needs of software publishers. Our enterprise security products consist of eToken and eSafe. eToken is a solution based on smart card devices, which ensures that only legitimate users gain access to networks and PCs. eSafe is a gateway-based solution that proactively protects networks against viruses, worms, spam and other unwanted Internet- and e-mail-borne content.
We sell our products globally to a large number of customers. We market and sell our software DRM products directly, as well as through a network of independent distributors. We market and sell our enterprise security solutions through indirect channels, which include distributors, value-added resellers and system integrators, and more recently, through OEM relationships. Organizations that have adopted our enterprise security solutions include Fortune 500 companies and cover a broad range of industries such as financial services, telecommunications, airline, manufacturing and technology.
Within the software DRM market, we focus on the hardware-based software licensing authentication token, or SLAT, market, which is the largest segment of the software DRM market. According to IDC, a market research firm focused on the information technology and telecommunications industries, we are the global leader in the SLAT market since 2002, with a 37.2% market share in 2004 (the most recent year for which IDC has provided such data to date). We have grown our customer base through a history of innovation in the security market and have a broad portfolio of intellectual property, including a number of patents and patent applications pending.
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