The alliance will give organizations a unified solution for protecting users' identities, personal information and assets through VeriSign Identity Protection (VIP) services.
VeriSign Identity Protection services provide an additional layer of authentication for online transactions and communication -- authentication that goes beyond entering a username and password. VIP's two-factor authentication works with the GDC4000 display card from G&D, an OATH-compliant credential. This card features a robust, active display that is embedded in the card via hot lamination during production. To achieve two-factor authentication enabled by VIP, the card displays a one-time password (OTP), which the user provides online to further verify his or her identity. The password changes with each transaction, ensuring that every VIP-enabled authentication combines something the user knows (username and password) with something he has (the OTP generated by the card).
"Our GDC4000 display card features state-of-the-art display technology," said Dr. Kai Grassie, head of G&D's New Business Division. "It meets highest requirements for durability and flexibility and provides an ideal platform for organizations to take advantage of VeriSign's globally trusted VIP authentication services. We are looking forward to a fruitful cooperation with VeriSign, one of the world's most trusted names in Internet security."
"In Germany and throughout the world, consumers need to trust their online transactions and the technologies they rely on to conduct them," said Mike Davies, director of VeriSign's Identity and Authentication Services, EMEA. "With G&D's respected, OATH-based display card and VeriSign's global VIP authentication network, we're able to provide an end-to-end solution that enables organizations to keep their customers safe online."
Giesecke & Devrient (G&D) is a leading supplier of banknote paper, banknote printing, currency automation systems, as well as smart cards and complex system solutions in the fields of telecommunications, electronic payment, health care, identification, transportation and IT security (PKI). Based in Munich, Germany, the G&D Group maintains subsidiaries and joint ventures around the world. In fiscal 2007, the Group employed close to 9,000 people and generated revenue of almost EUR 1.5 billion. For more information, visit our website at www.gi-de.com.
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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 inability of VeriSign to successfully develop and market new products and services and customer acceptance of any new products or services, including VeriSign Identity Protection and PKI services; the possibility that VeriSign's announced new services may not result in additional 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, 2007 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.
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