Mr. Evans: The company was originally founded in France and later moved its headquarters to the United States. Overall the company has been around for almost 23 years, and its first Nasdaq active trading of common shares happened in March 2000. It started out in the one-time password technology for accessing corporate network through VPN digital private network. Over the years, it has evolved. Today its core assets from a technology product standpoint can really be broken into two parts. One is what they call CMS - most people refer to that as a Card Management System for chip cards, smart cards. That has evolved over time, particularly over the last three years, to credential or chip management systems - this is all software. And the second major product line is authentication and provisioning. Between the two products, you can allow someone to issue and disseminate a digital identity and then provide applications onto their credential, such as a card which carries their identity. Today this has expanded to include mobile phones. As they use the various applications, they need to gain access or privileges for use of those applications, and so strong authentication, encryption of data, encryption of the transaction going back and forth, such as a PC client or a mobile phone to a server. ActivIdentity provides all these solutions.
Our company has two markets. One is the enterprise side; one is the commerce side. An example would be for an enterprise, employees getting into networks, getting into buildings, signing encrypted e-mail, getting access to CRM or ERP systems at an encrypted privileged way. Another area that we also provide solutions for is online commerce. Today most of that is in online banking, where people gain access to bank accounts to do bill payments, bill transfers, account look-up. Both solutions are infrastructure plays. The future that we look to and we believe is that digital commerce will be enormous in the coming years. It's already big, but we think it's small compared to what it will be, particularly in context with the mobile phone. The mobile phone installed base is 4 billion phones in this world already, and the smartphones with Web devices like the iPhone are growing at a 40% or 50% growth rate a year. Products that we have allow the ability to manage those devices in a secured manner. We believe this is a large growth opportunity for the company, particularly in the payments world. Our headquarters are in Fremont, Calif. We have offices in London, Paris, Munich, Washington, D.C., Singapore and Australia. Our customer base is comprised of premier customers on the enterprise side, Fortune 1000.
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