Certicom Corporation will host a conference call and live webcast at 10 a.m. (ET) onMonday, April 2, 2007. For dial-in numbers, please refer to the conference call information at the end of this release.
Mississauga, Ontario (April 2, 2007) – Certicom Corporation (TSX: CIC) (the “Company”) today announced that Bernard Crotty, Chairman of the board of directors has been appointed President and Chief Executive Officer on an interim basis. Jeffrey Chisholm, a board member and Chair of the Audit Committee, will assume the role of lead director. The Company also announced Ian McKinnon has resigned as President and Chief Executive Officer. The changes are effective immediately.
The board of directors has initiated a search for a new President and Chief Executive Officer.
“Certicom has a world-class intellectual property licensing portfolio and a clear strategy designed to help it build and enhance value for its shareholders,” said Mr. Crotty. “The Company is recognized as a global leader in elliptic curve cryptography and is poised to leverage this position to generate stronger revenues and sustainable profits. We intend to win long-term licensing agreements with other companies and vigorously defend our patent portfolio.”
The Company also announced that it has retained the Fish & Neave Intellectual Property Group of U.S.-based law firm Ropes & Gray and Kasowitz Benson Torres & Friedman LLC, also U.S. –based, to advise the Company in these matters.
Mr. Crotty has been a member of the board since 1996. He is the former Chairman and CEO of Comnetix Inc. and a former partner with the law firm McCarthy Tetrault in Toronto. He has also worked with Gibson Dunn & Crutcher LLP in Los Angeles and is a member of the California State Bar.
Dr. Scott Vanstone, a co-founder of the Company, will remain in the position of Executive Vice President, Strategic Technology and will continue to be responsible for research and technology development at Certicom.
The Company has more than 350 patents for elliptic curve cryptography (ECC), which is the world’s largest intellectual property portfolio for these types of patents. Its ECC technology is designed to provide strong, efficient cryptography that is increasingly required by government, multinational companies, content providers, and device manufacturers to embed security into their products. Certicom has a strategic growth plan in place for five high growth target markets, and the Company will now be focusing more on the licensing and protection of its patents.
“On behalf of the Board of Directors, I would like to thank Ian McKinnon for his service and many contributions to Certicom. Mr. McKinnon led the company through a very successful restructuring and growth phase, including a landmark patent licensing agreement with the U. S. Government’s National Security Agency. We have jointly agreed on this direction and we wish him well in his future endeavors,” said Mr. Crotty.
Mr. McKinnon said, “I am very proud of what the Certicom team has accomplished over the last five years. The future opportunities for the company have never been brighter, and it is the right time to hand over the reins of leadership as Certicom moves to execute the next phase of its growth strategy.”
Certicom protects the value of content, applications and devices with government-approved security. Adopted by the National Security Agency (NSA) for classified and sensitive but unclassified government communications, Elliptic Curve Cryptography (ECC) provides the most security per bit of any known public-key scheme. As the undisputed leader in ECC, Certicom security offerings are currently licensed to more than 300 customers including General Dynamics, Motorola, Oracle, Research In Motion and Unisys. Founded in 1985, Certicom’s corporate offices are in Mississauga, Ontario, Canada with worldwide sales and marketing headquarters in Reston, Virginia and offices in the U.S., Canada and Europe.
Management will host a conference call at 10 a.m. (ET) on Monday, April 2, 2007 to answer questions from analysts and institutional investors. The call can be accessed at 416-644-3417 or 1-800-732-6179. The call will also be webcast live and archived on the Certicom website at www.certicom.com . A taped rebroadcast will be available to listeners following the call until 12 a.m. on April 9, 2007. The rebroadcast can be accessed at 416-640-1917 or 1-877-289-8525 and quote the pass code 21225593#.
For further information, please contact:
|Investors and Financial Analysts:
Chief Financial Officer
Executive Vice President
Office: 416-367-5000 ext. 249