CrypTEC Systems Changes Name to NPoint, Inc.Business Editors NOTE TO MEDIA: Photo is available in a Smart News Release(TM) on Business Wire's Home Page at www.businesswire.com LOS GATOS Los Gatos (lôs gä`tōs, lŏs, găt`əs), city (1990 pop. 27,357), Santa Clara co., W Calif.; inc. 1887. It is an affluent residential community and health resort. , Calif.--(BUSINESS WIRE)--Aug. 8, 2000 CrypTEC Systems, Inc., based in Los Gatos, California “Los Gatos” redirects here. For the Argentine rock band, see Los Gatos (band). Los Gatos is an incorporated town in Santa Clara County, California, United States. The population was 28,592 at the 2000 census. , has changed its name to NPoint, Inc. The new name more accurately reflects the company's expanded business goals. "When we first opened our doors," says Charles Fonner, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , "we were dedicated to meeting the need for a compact, highly secure operating system The term "secure operating system" is a misnomer. Relevant articles include:
"Our 'thin' operating system operating system (OS) Software that controls the operation of a computer, directs the input and output of data, keeps track of files, and controls the processing of computer programs. was originally designed to be transportable across most microprocessors and to provide the highest level of security for identification, authentication, and payment transactions. We quickly recognized that the market for these services was much broader than we expected. We can support any hardware platform, any cryptographic security model, and any e-commerce application. This powerful system opened a world of possibilities for us and our customers." The SmarTEC OS represents a new class of software that provides the level of security required for mobile e-commerce, which has led NPoint to expand its markets. The company's markets now include microprocessors that are embedded not only in smart cards, but also in a broad range of devices from hand-held computers and PDAs to mobile phones and Internet appliances. Customers from around the world have expressed interest in using the system in their products. "By bringing the power of secure transactions to all Internet devices, the SmarTEC OS has created a convergence of forces that has led to an inflection point Inflection Point An event that changes the way we think and act. -Andy Grove, Founder of Intel. Notes: For example, the fall of the Berlin Wall was an inflection point in global politics and the commercialization of the Internet was an inflection point in technology. in the electronic commerce market," says Mike Nash, senior vice president of marketing, sales, and operations. "We decided that the name NPoint dramatically conveyed our role in the creation of this inflectioN point. We expect to be a major force in the explosive growth of all types of e-commerce." Company information is available at http://www.npoint.com.
About NPoint, Inc.:
Founded: 1998
Headquarters: 475 Alberto Way
Los Gatos, California
(408) 399-6844
Products: SmarTEC Secure Operating System
Secure Applications for payments,
communications and data storage
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