CoreStreet and Chrysalis-ITS Announce Partnership; Companies Will Provide Joint Customers with a Highly Scalable Solution to Validate Digital Identities

Business Wire,  April 7, 2003  

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Business Editors/High-Tech Writers

BOSTON--(BUSINESS WIRE)--April 7, 2003

CoreStreet, a leading provider of authorization and validation technology, and Chrysalis-ITS, a leading provider of hardware security modules (HSMs), today announced the successful integration of their products. The integrated solution is ideally suited to large enterprises that have a requirement for securely validating digital credentials used for controlling access to information systems as well as physical facilities. By integrating CoreStreet's software-based Real Time Credential Validation Authority (RTC VA) product, with the Chrysalis-ITS Luna CA(3) HSM, joint customers benefit from a tamper-resistant environment for their critical security sensitive validation data.

CoreStreet's RTC VA provides a certificate validation capability that is cost effective and scalable to hundreds of millions of certificates. At the heart of CoreStreet's products is an innovative patented technology that enables validation which is fast, efficient, secure, disconnected, and can be used in distributed environments without the need to distribute secret keys. Chrysalis-ITS HSMs protect critical private encryption keys used in the CoreStreet validation process, and help ensure stringent auditability requirements by providing a secure hardware environment. The Chrysalis-ITS Luna CA(3) is currently the only product of its kind on the market that has received certifications under both the FIPS 140 standard as well as the world-wide recognized Common Criteria standard for security hardware.

"Partnering with Chrysalis-ITS will enable both companies to meet the demands set forth by our joint customers looking for highly secure, scalable and cost-effective infrastructure security products," said Phil Libin, president of CoreStreet. "CoreStreet develops validation software products that are second-to-none in the industry today that answer the question immediately in real time of whether or not an individual is authorized to be doing what they are doing at that moment."

"Joining forces with CoreStreet and combining our leading cryptographic hardware with their unique validation software ensures that our joint customers will experience unmatched levels of security," said Randy Kun, vice president of marketing and product line management, Chrysalis-ITS. "Chrysalis-ITS built its reputation as a developer of industry-leading security products that enable the highest levels of security for digital identities, transactions and communications."

About Chrysalis-ITS

Chrysalis-ITS is a leading vendor of hardware security products to secure and accelerate applications including electronic financial transactions, SSL, smart card issuance, document security and digital identity management. The company is revolutionizing hardware security with a line of appliances that dramatically simplify the deployment of secure applications. Chrysalis-ITS products power security solutions deployed to customers spanning the world's leading financial institutions, service providers, and government agencies. Chrysalis-ITS products are delivered through a global network of distributors and value-added resellers. Founded in 1994, Chrysalis-ITS is headquartered in Ottawa, Canada, with regional offices throughout North America, Europe, and Asia. The company website is http://www.chrysalis-its.com.

About CoreStreet

Bridging the security gap between physical and information security, CoreStreet provides the only secure authorization and validation technology for connected and intermittently connected environments. Combining security, safety and convenience, CoreStreet enables organizations to grant or revoke an individual's access rights to a building, computer network, laptop, or wireless devices immediately in real time. The company, headquartered in the Boston area, holds 14 patents with more pending. For more information, visit www.corestreet.com.

Chrysalis-ITS, Chrysalis-ITS logo, Luna, and Ultimate Trust are trademarks or registered trademarks of Chrysalis-ITS Incorporated.

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