VirnetX And Siemens Enterprise Communications Sign A Patent License Agreement
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 (VHC) 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 outsourcing capabilities.
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 better results.
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 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 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 respective owners.
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