iS3 Announces Global Strategic Alliance With Visa International
Cupertino, CA — November 10, 2003 — iS3 Inc. (i-s-cubed), a global provider of security management solutions, and Visa International, the world’s leading payment brand, today announced a multi-year global strategic alliance to explore opportunities to use iS3 security management solutions to deliver business advantage and strategic benefits to Visa, member financial institutions and Visa merchants.
Visa International has also made an equity investment in iS3, as part of its Series B equity funding round, which raised a total of $9.1 million. The round was led by Menlo Ventures and also included participation from some of Silicon Valley’s premier venture capital firms, including BV Capital, Asset Management, and existing investors. The total equity investment to date in iS3 is more than $11 million. (See release dated 9/16/03 for more information– http://www.iscubed.com).
Through the iS3-Visa strategic alliance and equity investment, the companies will work closely together over the next two years to identify new ways in which iS3’s unique technologies can contribute to the building of Visa’s vision of u-commerce (universal commerce) –the ability to conduct commerce anywhere, anytime and any way. Such activities may include adapting iS3 technology for a variety of security-related initiatives to address the needs of future networks and devices.
“This new funding and strategic alliance with Visa, combined with iS3’s unique approach to improved centralized security management with a focus on automated key management, position iS3 to become a frontrunner in the field of security management,” commented John Muir, partner, Trusted Strategies.
“We are extremely pleased to join forces with Visa, a market leader who shares iS3’s focus on providing security management solutions for the millions of devices and software applications conducting daily electronic payments transactions in the financial industry,” said Joerg Ferchau, president and CEO of iS3. “Visa’s strategic alliance with iS3 demonstrates its strong commitment to a secure payment system and its underlying financial infrastructure.”
“Visa is constantly looking for innovative technology solutions to help us build our u-commerce vision,” said Sarah Perry, senior vice president, Strategic Alliances and Investments, Visa International. “Today, we operate in a global, networked economy that is dependent upon reliability and end-to-end security of the information chain. We want the Visa payment system of the future to be as safe as it can be because our stakeholders expect the highest levels of security in the Visa brand.”
ABOUT iS3’s SECURE OMS
iS3’s Secure OMS (Secure Operations Management System) is an expert security platform with related applications, which meets the highest security standards. Secure OMS provides financial institutions and enterprises with a centralized security management solution that combines unique architecture, software, and hardware security devices to securely and cost effectively manage:
– Security content for network attached devices including: encryption keys, digital certificates, trusted software, PINs, or other confidential information
– Electronic distribution of security content
– Security officers and remote personnel
– Database and audit trail
– Secure interfaces to host and client software applications
iS3’s patent pending Secure OMS architecture replaces manual security processes, weak software utilities, and separate point solutions with a fortified, scalable security management solution that automates security management requirements via secure network processes. Secure OMS provides strong business advantage through reduced cost of operations, improved security, and regulatory compliance. Secure OMS solutions are available in single processor or highly scalable load-balanced versions.
ABOUT iS3
iS3 develops and markets advanced security management solutions for the global financial industry. iS3 innovative solutions centrally manage and control cryptographic content for devices and applications used in financial, enterprise and wireless transactions. iS3 solutions offer: reduced cost of operations, improved security, and a centralized platform approach to security management. Professional services for 3DES migration, security assessments, and architecture are also available. More information about iS3 can be found on the web at http://www.iscubed.com.
ABOUT VISA INTERNATIONAL
Visa is the world’s leading payment brand generating US$2.7 trillion in annual card sales volume. Visa has unsurpassed acceptance in more than 150 countries. The Visa organization plays a pivotal role in developing innovative payment products and technologies to benefit its 21,000 member financial institutions and their cardholders. Visa is a leader in Internet based payments and is pioneering the creation of u-commerce, or universal commerce–the ability to conduct commerce anywhere, anytime, and any way. For more information, visit http://www.corporate.visa.com.