VirnetX strikes licensing deal with Avaya, shares spike

|About: VirnetX Holding Corporation (VHC)|By:, SA News Editor

VirnetX (VHC +7%) is licensing some of its patents to Avaya in exchange for "multiple payments" and "an ongoing reasonable royalty for future sales," until the patents expire.

Avaya, in return, is licensing some of its patents to VirnetX for use in the development of its Gabriel cryptography tech.

VirnetX's Texas infringement suit against Avaya, a provider of networking gear and telecom hardware/software to enterprises, has been dismissed.

VirnetX recently announced it had been granted two more VPN-related patents by the USPTO, and that it has filed to assert one of them in its patent suit against Apple.