|[December 10, 2012]
Tyfone and In-Q-Tel Sign Strategic Agreement to Bring Mobile Security in Cloud and NFC Transactions for U.S. Government
PORTLAND, Ore. --(Business Wire)--
a global innovator in mobility, providing software, security and Near
Field Communication (NFC) solutions, today announced a strategic
investment and technology development agreement with In-Q-Tel
(IQT). IQT is an independent, nonprofit organization that identifies
innovative technology solutions to support the U.S. government.
"Tyfone has an impressive patent portfolio and history of innovation in
mobile financial, secure ID management and NFC solutions," said Jay
Emmanuel, Technology VP at IQT. "We believe that Tyfone's technology has
the potential to address a wide range of complex government and
commercial secure identity challenges."
"A key benefit of our strategic partnership with IQT is the ability to
take our innovative mobile security and NFC platform to the U.S.
government," said Dr. Siva Narendra, CEO and co-founder of Tyfone. "Our
platform includes high volume manufactured hardware that brings
smartcard security and NFC to virtually any mobile phone, tablet or PC.
In addition, our mobile platform's software has processed over 7 million
secure financial transactions, and we look forward to extending it to
IQT's government customers."
Cloud services that leverage mobile devices as a channel and a
transaction tool have augmented the consumer experience by allowing
anytime, anywhere access. However, cloud services have also created
significant, central points of vulnerability. The seamless adition of a
smartcard to any existing mobile device using Tyfone's technology brings
distributed, strong authentication and secures access to any services in
the cloud, on any network. The strategic relationship with IQT is
further validation that the Tyfone solution is poised to address a
recognized commercial and market need.
Tyfone's mobile platform makes a wide range of mobile channel access and
wallet uses highly secure, including access to financial data, corporate
and government networks, Web login and transactions, as well as physical
world transactions using NFC. Tyfone recently prepared an article
addressing these security objectives that was published by IQT, a copy
of which is available upon request at: http://tyfone.com/IQT.
For more information about IQT, visit http://www.iqt.org.
In-Q-Tel (News - Alert) is the not-for-profit, strategic investment firm that works to
identify, adapt, and deliver innovative technology solutions to support
the missions of the U.S. Intelligence Community. Launched in 1999 as a
private, independent organization, IQT's mission is to identify and
partner with companies developing cutting-edge technologies that serve
the national security interests of the United States. Working from an
evolving strategic blueprint defining the Intelligence Community's
critical technology needs, IQT engages with entrepreneurs, startups,
researchers, and investors to deliver technologies that provide superior
capabilities for the CIA and broader Intelligence Community. For more
information, visit www.iqt.org.
Founded in 2004, Tyfone's Corporate Headquarters are in Portland,
Oregon, USA and its Asia-Pacific Headquarters are in Bangalore, India.
Tyfone is a global innovator in mobility - providing software, security
and payment products. Tyfone and its partners enable a suite of services
including Mobile Banking, iCashe™ Mobile Wallet, smart card based Mobile
Payments and Mobile Distributed Identity for use in-store with NFC and
for use in the cloud without NFC. Tyfone's enabling technology includes
SideTap™ and SideSafe™ distributed security hardware form factors for
mobile devices and u4ia® mobile software platform for transaction and
identity management. Tyfone's patent portfolio covers critical
technologies including mobile wallet, secure element, authentication,
mobile commerce user interface, OTA provisioning and mobile contactless
NFC payments. To date, Tyfone has over 300 issued invention claims along
with 50 issued and pending patents in the U.S., Taiwan and Patent
Cooperating Treaty (PCT) countries. For more information visit www.tyfone.com.
Tyfone, iCashe, SideTap, SideSafe and u4ia are trademarks of Tyfone,
Inc. All other names are the property of their respective owners.
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