SANTA CLARA, Calif., March 6, 2003 – InterTrust Technologies Corporation, the leading inventor of digital rights management (DRM) and trusted computing technologies, has named Talal Shamoon, 39, the company's chief executive officer.
InterTrust, which previously traded on the NASDAQ under the ticker symbol ITRU, was acquired in a transaction completed January 7, 2003, by Fidelio Acquisition Company, LLC, a company formed by Sony Corporation of America (NYSE:SNE), Royal Philips Electronics N.V. (NYSE:PHG; AEX:PHI) and Stephens Acquisition LLC. InterTrust is now a private, independent company committed to the development and licensing of its intellectual property.
"We're at the threshold where DRM and trusted computing move from ‘disruptive technology' to innovative products and services," said Shamoon. "While challenges stand before us -- from interoperability and standardization to improvements in licensing, deployment and ease of use -- we look forward to working with the diverse group of entertainment and enterprise companies in driving the market to maturity."
"InterTrust's broad-reaching DRM solutions will be instrumental in unleashing the enormous possibilities of the digital era both in consumer and business to business markets," said Ruud Peters, CEO of Philips Intellectual Property & Standards and Executive Vice President of Philips International BV. "Talal's business and engineering experience, as well as his formidable collaboration skills, will help drive InterTrust and DRM to the next phase in its natural evolution."
"Creating a secure digital environment is a fundamental necessity for deployment of new services that leverage our entertainment content," said Rob Wiesenthal, Executive Vice President and Chief Strategy Officer of Sony Broadband Entertainment, Sony Corporation of America. "DRM is the key to creating such an environment. We expect InterTrust and Talal to provide critical leadership in this area."
Shamoon previously served as executive vice president for business development at InterTrust and was also involved in the company's development of secure computing technology initiatives for the entertainment and media industries. Prior to joining the company in 1997, Shamoon was with the NEC Research Institute in Princeton, New Jersey, an advanced computer science research facility, where he focused on multimedia security, signal processing and data compression. He holds PhD, M.Eng and B.S. degrees in electrical engineering from Cornell University.
About InterTrust Technologies Corporation
InterTrust develops and licenses intellectual property for DRM and trusted computing. The Company holds 26 U.S. patents and has approximately 85 patent applications pending worldwide. InterTrust's patent portfolio covers software and hardware techniques that can be implemented in a broad range of products that use DRM and trusted computing technologies, including computer operating systems, digital media platforms, web services, and enterprise infrastructure. InterTrust has research, engineering, and IP groups focusing on developing and monetizing next-generation technologies and inventions.
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Copyright © 2002 InterTrust Technologies Corporation. All rights reserved. InterTrust is a registered trademark of InterTrust Technologies Corporation, which may or may not be used in certain jurisdictions. All other brand or product names are trademarks or registered trademarks of their respective companies or organizations.