VirnetX And Siemens Enterprise Communications Sign A Patent License Agreement
RESTON, Va. and ZEPHYR COVE, Nev., Jan. 29, 2013
RESTON, Va. and ZEPHYR COVE, Nev., Jan. 29, 2013 /PRNewswire/ --VirnetX
Holding Corp. (NYSE MKT: VHC) and Siemens Enterprise Communications GmbH & Co.
KG, and Siemens Enterprise Communications Inc., today announced they have
signed a Patent License Agreement, which will allow VirnetX to license certain
of its patents to Siemens Enterprise Communications, for a one-time payment to
VirnetX and an ongoing reasonable royalty for future sales. The agreement will
extend through the expiration of the licensed patents with respect to certain
current and future IP-encrypted products.
In addition, VirnetX and Siemens Enterprise Communications have agreed to
dismiss the patent infringement case brought by VirnetX against Siemens before
the U.S. District Court for the Eastern District of Texas.
"We are pleased to have come to an agreement with Siemens Enterprise
Communications on terms consistent with our VirnetX IP Licensing program,"
said Kendall Larsen, VirnetX CEO and President.
About Siemens Enterprise Communications
Siemens Enterprise Communications is a leading global provider of unified
communications (UC) solutions and network infrastructure for enterprises of
all sizes. Leveraging 160 years of experience, we deliver innovation and
quality to the world's most successful companies, backed by a world-class
services portfolio which includes international multi-vendor managed and
Our OpenScape communications solutions provide a seamless and efficient
collaboration experience – on any device – which amplifies collective effort
and dramatically improves business performance.
Together, our global team of UC experts and service professionals set the
standards for a rich communications experience that empowers teams to deliver
Siemens Enterprise Communications is a joint venture of The Gores Group and
Siemens AG, and includes Enterasys Networks, a provider of network
infrastructure and security solutions, creating a complementary and complete
enterprise communications solutions portfolio.
For more information, please visit: www.siemens-enterprise.com
VirnetX Holding Corporation is an Internet security software and technology
company with patented technology for 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 20 U.S. and 32
international patents and over 100 pending applications. For more information,
please visit www.virnetx.com.
Forward Looking Statements by VirnetX Holding Corporation (the "Company")
Statements in this press release that are not statements of historical or
current fact, including statements regarding the strength of the patent
portfolio, constitute "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995, including statements
regarding the Company's patent portfolio, legal proceedings, licensing
efforts , strategy and position in the 4G/LTE network security market. 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; (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 applicationsmay beadopted 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 with the SEC on February 29, 2012
and in the Company's Quarterly Report on Form 10-Q filed with the SEC on
November 9, 2012. 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 does not intend to
update any of the forward-looking statements after the date of this press
release to conform to actual results.
Siemens Enterprise Communications
VirnetX Holding Corporation
VirnetX and GABRIEL Connection Technology are trademarks of VirnetX Holding
Corporation. Other company and product names may be trademarks of their
SOURCE VirnetX Holding Corp.
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