ZEPHYR COVE, Nev., Aug. 21, 2017 /PRNewswire/ -- VirnetX™
Holding Corporation (NYSE AMERICAN: VHC), an Internet security
software and technology company, today announced it has entered
into a Patent Standstill Agreement with HTC Corporation (TWSE:
2498), a global leader in innovation and design. The deal was
facilitated by VirnetX's licensing partner, IPVALUE Management
Inc.
"This is a significant development as we continue to grow our
business outside the US," said Sameer
Mathur, Vice President of Corporate Development and Product
Marketing for VirnetX. "This standstill agreement gives both
parties more time to discuss and negotiate a broad license,
including a license to VirnetX's LTE-related patents."
"We are pleased to have assisted VirnetX in reaching this
agreement with HTC, so that a future deal can be consummated
without the need for litigation," said Paul
Riley, Vice President of Licensing for IPValue.
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, smart phones, eReaders and video conferencing. The Company's
patent portfolio includes over 115 U.S. and international patents
and over 50 pending applications. For more information, please
visit www.virnetx.com
About IPVALUE Management
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 $1.5B in revenues from
IP licensing and sales. For more information, visit
www.ipvalue.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; (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
Company's Annual Report on Form 10-K filed on March 16, 2017 and Quarterly Report on Form 10-Q
filed with the SEC on August 9, 2017.
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:
Investor Relations
VirnetX Holding Corporation
775.548.1785
ir@virnetx.com
VirnetX, Gabriel Collaboration Suite, Gabriel Secure
Communications Platform and GABRIEL Connection Technology are
trademarks of VirnetX Holding Corporation. Other company and
product names may be trademarks of their respective owner
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SOURCE VirnetX Holding Corporation