- 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.
VirnetX strikes licensing deal with Avaya, shares spike
Aug 8 2013, 10:49 ET