ZEPHYR COVE, Nev., May 11, 2015 /PRNewswire/ -- VirnetX™
Holding Corporation (NYSE MKT: VHC), an Internet security software
and technology company, announced today that it has engaged IPVALUE
Management Inc. to assist it in commercializing its portfolio of
patents on securing real-time communications over the Internet.
Under the multi-year agreement, IPVALUE will originate and assist
VirnetX with negotiating transactions related to patent licensing
worldwide with respect to agreed third parties.
"The technology innovations giving rise to the VirnetX patent
portfolio have tremendous value as secure communications are the
fundamental building blocks of today's mobile, internet connected
devices and services." said Murali
Dharan, IPVALUE CEO. "VirnetX's strong intellectual property
portfolio includes patents that have been declared essential to
3GPP mobile standards and we look forward to opening discussions
with companies that need this technology to be compliant. IPVALUE
has a proven track record of applying a professional, business
resolution oriented approach to licensing marquee intellectual
properties like VirnetX's IP."
"We're excited about our relationship with IPVALUE," said
Kendall Larsen, VirnetX CEO and
President. "We believe that working with the IPVALUE team will
provide us with the resources to fully commercialize our patent
portfolio and maximize the revenue potential of our intellectual
property."
VirnetX's worldwide portfolio includes over 107 U.S. and foreign
patents with over 75 pending applications. Its portfolio has been
licensed by a number of leading technology companies including a
recent licensing agreement with Microsoft. VirnetX has submitted a
declaration with the 3rd Generation Partnership Project (3GPP)
identifying a group of its patents and patent applications that it
believes are essential to 19 specifications in the 3GPP LTE, SAE
project.
VirnetX patent development is attributed to the VirnetX research
and development team, headed by VirnetX Chief Technical Officer and
Chief Scientist, Dr. Robert Dunham Short
III, which includes the scientists who created the original
inventions that are the basis of VirnetX's patent portfolio. The
VirnetX R & D team continues to file for new patents on any
improvements or new technology it invents while developing VirnetX
products including Gabriel Secure Communications (scheduled for
public release the first half of 2015) and VirnetX's Secure Domain
Name Registry.
About IPVALUE
IPVALUE is the leading provider of
Intellectual Property transactional and advisory services for the
world's premier technology companies, R&D labs, and owners of
significant IP portfolios. Founded in 2001, IPVALUE's mission is to
deliver a return on invention by licensing the IP
portfolios of leading innovators. Since inception, the firm has
helped these innovators realize over $1.4B in revenues from IP licensing and
sales. For more information, visit www.IPVALUE.com.
About VirnetX
VirnetX Holding Corporation is an
Internet security software and technology company with patented
technology for secure communications including 4G LTE security.
The Company's software and technology solutions, including
its secure domain name registry and GABRIEL Connection Technology™,
are designed to facilitate secure communications and to create a
secure environment for real-time communication applications such as
instant messaging, VoIP, smartphones, eReaders and video
conferencing. The Company's patent portfolio includes over
107 U.S. and international patents with over 100 pending
applications. For more information, please visit
www.virnetx.com.
Forward Looking Statements
Statements in this press
release that are not statements of historical or current fact,
including statements regarding the strength of VirnetX's
intellectual property, constitute "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995. Such forward-looking statements are based on
expectations, estimates and projections about the markets in which
the Company operates, management's beliefs, and certain assumptions
made by management and involve known and unknown risks,
uncertainties and other unknown factors that could cause the actual
results of the Company to be materially different from the
historical results or from any future results expressed or implied
by such forward-looking statements, including but not limited to
(1) the outcome of any legal proceedings that have been or may be
initiated by the Company or that may be initiated against the
Company, including pending and future inter partes review
proceedings in the Patent and Trademark Office; (2) the ability to
capitalize on the Company's patent portfolio and generate licensing
fees and revenues; (3) the ability of the Company to be successful
in entering into licensing relationships with its targeted
customers on commercially acceptable terms and IPVALUE's ability to
assist the Company to achieve its desired results; (4) potential
challenges to the validity of the Company's patents underlying its
licensing opportunities; (5) the ability of the Company to achieve
widespread customer adoption of the Company's GABRIEL Communication
Technology™ and its secure domain name registry; (6) the level of
adoption of the 3GPP Series 33 security specifications; (7) whether
or not the Company's patents or patent applications may be
determined to be or become essential to any standards or
specifications in the 3GPP LTE, SAE project or otherwise; (8) the
extent to which specifications relating to any of the Company's
patents or patent applications may be adopted as a final
standard, if at all; and (9) the possibility that Company may be
adversely affected by other economic, business, and/or competitive
factors. In addition to statements which explicitly describe
such risks and uncertainties, readers are urged to consider
statements labeled with the terms "believes," "belief," "expects,"
"intends," "anticipates," or "plans" to be uncertain and
forward-looking. The forward-looking statements contained
herein are also subject generally to other risks and uncertainties
that are described from time to time in the Company's reports and
registration statements filed with the Securities and Exchange
Commission, including those under the heading "Risk Factors" in the
Company's Quarterly Report on Form 10-K filed with the SEC on
March 02, 2015. Many of the
factors that will determine the outcome of the subject matter of
this press release are beyond the Company's ability to control or
predict. Except as required by law, the Company is under no
duty to update any of the forward-looking statements after the date
of this press release to conform to actual results.
Contact:
Greg Wood
VirnetX Holding Corporation
775.548.1785
greg_wood@virnetx.com
VirnetX and GABRIEL Connection Technology are trademarks of
VirnetX Holding Corporation. Other company and product names may be
trademarks of their respective owners.
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SOURCE VirnetX Holding Corporation