FAIFIELD, Conn., Oct. 12, 2000 (PRIMEZONE) -- Competitive Technologies, Inc. (AMEX:CTT) announced today that it's client NTRU Cryptosystems, a leader in security technology for embedded wireless and media applications, announced their partnership with Zucotto Wireless Inc.(tm), a leading authority in Java(tm) semiconductors for mobile multimedia and the wireless Internet. The agreement, opening up a new platform for NTRU, will deliver high-performance security solutions for embedded Java applications.
The companies are porting NTRU's patented, low-footprint, high-performance security technology to Zucotto's platform for wireless Java application development, the WHITEboard(tm) Software Development Kit, and into Zucotto's Xpresso(tm) Java native processor.
"This agreement between NTRU and Zucotto opens an excellent channel to cell phones and appliance OEMs for our client," said Frank R. McPike, President of CTT. "Competitive Technologies owns approximately 10% of NTRU's equity and will also receive a small royalty on revenues produced by NTRU. CTT was instrumental in providing NTRU with a suite of custom incubation services at its founding."
"Zucotto is a clear leader in wireless Java semiconductors," stated Scott Crenshaw, NTRU CEO. "Our partnership will deliver much-needed security solutions to developers building Java applications for wireless devices. As wireless devices mature, new security paradigms will be required. Users demand better security and operators require greater scalability. And as valuable media, such as music and video, are delivered to wireless devices, copyright owners need protection from illegal copying. NTRU protects both communications and content, in a fast, low-footprint package."
The partners said their combined technologies will deliver the power of the Java platform and sophisticated encryption to embedded applications in a low-cost, low-power, high-speed package. This combined technology platform will allow users of next-generation devices to perform dynamic wireless transactions such as m-commerce or downloading copyrighted multimedia content both securely and quickly. Field-level encryption, disposable keys, and frequent, mutual authentication using Java will be practical.
NTRU claims the fastest, smallest, and most secure public key cryptography solutions to secure communications and content for the next generation of Internet connectivity. Applications include securing wireless data communications, digital music and video distribution, and mobile e-commerce and Internet applications. Developed by a team of Brown University mathematics professors, NTRU operates more than 100 times faster than competitive systems at equivalent security levels, and is easily implemented in low-cost hardware devices. Visit www.ntru.com. NTRU is pronounced "En' true."
About Competitive Technologies, Inc.
Competitive Technologies is a global leader in identifying, developing and commercializing innovative life sciences, physical sciences and digital technologies. Competitive Technologies' specialized expertise and experience make it a valuable partner for inventors, companies and universities of all sizes. CTT has been responsible for closing hundreds of licensing agreements. CTT clients and licensees include: Sony, Matsushita Electric Industrial, The University of Colorado, NTRU Cryptosystems, Inc., Palatin Technologies, Inc. and Ribozyme Pharmaceuticals, Inc. Competitive Technologies, Inc. is based in Fairfield, Connecticut and has affiliates in Osaka, Japan and London, England.
Statements about the Company's future expectations, including development and regulatory plans, and all other statements in this document other than historical facts are "forward-looking statements" within the meaning of applicable Federal Securities Laws and are not guarantees of future performance. These statements involve risks and uncertainties related to market acceptance of and competition for the Company's licensed technologies and other risks and uncertainties inherent in CTT's business, including those set forth in Item 1 of the Company's Form 10-K for the year ended July 31, 1999 and other factors that may be described in CTT's filings with the SEC, and are subject to change at any time. The Company's actual results could differ materially from these forward-looking statements. The Company undertakes no obligation to update publicly any forward-looking statement.