Leading Licensing Firm Sees Tremendous Value in VirnetX Patents
ZEPHYR COVE, Nevada.,– May 11, 2015 – 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.
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.
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.
VirnetX Holding Corporation
VirnetX and GABRIEL Connection Technology are trademarks of VirnetX Holding Corporation. Other company and product names may be trademarks of their respective owners.