Intrinsic-ID names Tim Smith as Vice President of Sales in North America

Growing Demand for Hardware Intrinsic Security (HIS) Solutions

SAN JOSE, CALIF., February 17, 2010—Intrinsic-ID, Inc., an emerging semiconductor intellectual property (IP) and services provider, today announced it has named Tim Smith to the position of vice president of sales in North America. Smith has a proven track record with semiconductor IP companies, generating sales, managing sales channels and infrastructure, and growing sales from zero to profitability in a start-up setting. In his new role, Smith will lead and oversee the sales efforts for North America and John Elliott will continue to build customer momentum in Europe. Both report directly to Intrinsic-ID Chief Executive Officer Daniël Schobben. To address ever-increasing counterfeiting activities, Intrinsic-ID continues to attract top talent to meet the growing demand for hardware intrinsic security (HIS) solutions.

A New Approach: Hardware Intrinsic Security (HIS)

The security and authenticity of electronic devices is fundamental to electronics companies and their customers for the protection of their assets. Hardware security is crucial to preventing security breaches, and a new approach to secure key storage must be adopted. HIS provides security and implementation benefits over existing approaches by extracting the secret key from the hardware instead of storing it. This approach allows a device to generate a secret key only when needed and power down with no key present. Because no key is stored, attackers have nothing to find. Intrinsic-ID’s QuiddikeyTM solution secures assets against cloning, tampering, theft-of-service and reverse engineering.

“Tim’s unique experience in licensing semiconductor IP allows him to work closely with our customers to construct a framework within which we can provide solutions to their problems,” stated Schobben. “Tim knows how to sell on an executive level, which is critical for selling our HIS solutions. He has secured large contracts with many of the accounts that are on our prospect list. Tim’s leadership skills will enhance our presence in the U. S. and augment the positive momentum gained in Europe. We welcome Tim to the Intrinsic-ID team and look forward to his contributions.”

Prior to joining Intrinsic-ID, Smith was vice president of worldwide field operations at Silístix in San Jose, Calif. Before that, he held the same role at San Jose-based CoWare. Also, Smith served as the vice president of worldwide sales at Sonics and earlier with Triscend, both located in Mountain View, Calif. During his time at Memec Design Services in Tempe, Arizona, he was managing director. Smith earned his B.S.E.E. with an emphasis on semiconductor physics from Arizona State University in Tempe, Arizona.

About Intrinsic-ID

Intrinsic-ID is an emerging semiconductor intellectual property and services company whose mission is to make counterfeiting a thing of the past. Intrinsic-ID offers the only technology-independent key storage without storing the key for semiconductor companies. Headquartered in Eindhoven, The Netherlands, Intrinsic-ID was founded in 2008 as a spin-out of Royal Philips Electronics. Its hardware intrinsic security products are based on patented physically unclonable function (PUF) technology that has been deployed in Philips’ production environment. To find out more, please visit www.intrinsic-id.com.