VeriSign to Sponsor First-Ever Industry Contest
for EPC and RFID Application Development
Annual Event will Highlight Next-Generation Applications to Promote
Increased Visibility and Secure Data Sharing Across the Global
Supply Chain
MOUNTAIN VIEW, CA. – May 2, 2005 - VeriSign, Inc. (Nasdaq: VRSN), the leading provider
of intelligent infrastructure services for the Internet and telecommunications
networks, today announced that it has launched the first annual EPC
Application Developers Contest. Like the innovative software and Web
applications that promoted world-wide Internet growth, the contest is
aimed at driving a new generation of network applications that help
companies store, share, and secure RFID-generated data over the EPCglobal
Network.
The Electronic Product Code (EPC) and radio
frequency identification (RFID) hold great promise for the automation
of product identification within the supply chain. Just as email and
the browser were key drivers for Internet usage, new applications will
drive innovative uses of these technologies to enable the next-generation
supply chain.
“RFID combined with Electronic Product Codes
provide a granularity of data that, over time, will allow companies
to completely transform their supply chains,” said Byron Deeter, principal
at Bessemer Venture Partners. “RFID represents a significant market
opportunity for visionary enterprises, and the innovative application
providers that emerge to support them.”
Email was the “killer app” that drove millions
of companies and consumers to get online. Today, companies are implementing
RFID and EPC technologies with similar expectations for its far-reaching
potential to drive customer-service efficiency. Many valuable uses of
product information have been envisioned, but new applications are needed
to turn such ideas into reality. Which developers will create the “killer
apps” for RFID?
VeriSign created the annual EPC Application
Developers Contest to answer this question and encourage the ongoing
evolution of global supply chains. The contest will highlight the best
emerging ideas each year that use EPC data to solve real-world business
challenges.
“At Smuckers, we recognize the value of the
enhanced visibility into our supply chain promised by RFID,” said Lori
Bigler, manager, Business Technology Standards, The J.M. Smucker Company.
“To accomplish this, companies need applications that combine RFID data
with contextualized business information to ultimately enable better
decision making. We’re pleased to support programs like the EPC Application
Developers Contest as an effective way of driving the development of
this application layer.”
This year’s entries will be evaluated by an
industry committee based on originality, applicability to a real business
problem, and use of network data. The contest winner will be announced
at the EPCglobal US Conference, in September, 2005. Subject to the Official
Contest Rules, the grand prize will consist of a $10,000 cash prize,
recognition at the EPCglobal US Conference in September 2005, and introductions
to select members of the venture capital community. The winner will
also receive access to the EPC Starter Services for a period of one
year from the conclusion of the contest at no charge, subject to the
standard terms and conditions of use; one free pass to the 2006 RFID
Journal Live conference; and a one year subscription to RFID magazine.
The Panel of Judges:
- Lori Bigler, manager, Business Technology Standards, The J.M.
Smucker Company
- Byron Deeter, principal, Bessemer Venture Partners
- Ann Grackin, chief executive officer, ChainLink Research
- Bernie Hogan, chief technology officer, Uniform Code Council
- Aileen Lee, principal partner, Kleiner, Perkins, Caufield &
Byers
“Today, we are on the brink of realizing the
business value promised by RFID,” said Mark McLaughlin, senior vice
president and general manager, Naming and Directory Services, VeriSign.
“However, the next stage of RFID development requires data sharing among
multiple partners. Tags and readers are merely the hardware used to
put information into a network that can then store, share, secure and
distribute that information intelligently to users upon demand. We are
very pleased to be able to work with other leading business and technology
providers in bringing together the developer community to help build
an environment that will ultimately foster the growth and innovation
of the next generation supply chain.”
Additional details on the EPC Application Developers
Contest can be found at: www.verisign.com/epccontest.
About VeriSign
VeriSign, Inc. (Nasdaq: VRSN) operates intelligent infrastructure services
that enable businesses and individuals to find, connect, secure, and
transact across today’s complex global networks. Additional news and
information about the company is available at www.verisign.com.
For more information, contact:
VeriSign Media Relations: Patrick Burns, pburns@verisign.com,
703-948-4471
VeriSign Investor Relations: Tom McCallum, tmccallum@verisign.com,
650-426-3744
Statements in this announcement other than historical
data and information constitute forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E
of the Securities Exchange Act of 1934. These statements involve risks
and uncertainties that could cause VeriSign’s actual results to differ
materially from those stated or implied by such forward-looking statements.
The potential risks and uncertainties include, among others, the uncertainty
of future revenue and profitability and potential fluctuations in quarterly
operating results due to such factors as the risk that VeriSign’s announced
strategic relationships, including the relationship described herein,
may not result in additional products, services, customers, profits
or revenues; and increased competition and pricing pressures. More information
about potential factors that could affect the company’s business and
financial results is included in VeriSign’s filings with the Securities
and Exchange Commission, including in the company’s Annual Report on
Form 10-K for the year ended December 31, 2003 and quarterly reports
on Form 10-Q. VeriSign undertakes no obligation to update any of the
forward-looking statements after the date of this press release.
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