SCOTTS VALLEY, Calif., April 13, 2010 – VirnetX Holding Corporation (NYSE Amex: VHC), an Internet security software and technology company, announced today that it is launching a Secure Domain Name Initiative (SDNI) and is in active discussions with leading 4G/LTE companies (domain infrastructure providers, chipset manufacturers, service providers, etc) to participate in a design pilot this summer for delivering to end-users and consumers of the Internet and mobile devices the needed and necessary security requirements for the next generation 4G/LTE wireless networks. The pilot will implement VirnetX’s patented Secure Domain Name and automatic Virtual Private Network technology.
“VirnetX’s Secure Domain Name Initiative in partnership with leading tech companies will represent a major shift and create an entirely new beginning in how we will soon be communicating securely and seamlessly over the Internet and on mobile devices,” said Kendall Larsen, Chairman, President and CEO of VirnetX.
“Secure domain names are an integral part of securing the next generation 4G/LTE wireless networks. All 4G mobile devices will require their own individual secure domain name and become part of a secure domain name registry,” Larsen said. According to industry reports, there are currently about 450 million mobile devices that will need secure domain names, and this figure is expected to grow to 4 billion by 2014. Also, there are currently about 200 million Internet domain names that are likely to want secure domain names.
Larsen noted that VirnetX’s Secure Domain Name Initiative comes at an opportune time as the landmark Cybersecurity Act just passed the U.S. Senate (http://commerce.senate.gov ). The bill offers the first comprehensive approach to developing a coordinated public-private partnership to defend the nation’s communications systems and other critical infrastructure against cyber attacks. Section 9 of the bill mandates that within three years after the enactment there is a strategy to implement a secure domain name addressing system.
“The Cybersecurity Act calls for the use of a secure domain name system, which is what VirnetX’s technology provides. VirnetX and our SDNI partners can deliver what the government is mandating for a secure Internet using secure domain names. Existing domain names will be able to move to a new secure domain name and devices will have their own secure domain name so owners and operators can transmit data securely and in real time – safe from hackers and thieves,” Larsen said.
On February 23, 2009, VirnetX announced that the U. S. Patent and Trademark Office had awarded VirnetX two patents, #7,490,151 and #7,418,504, that include key fundamental mechanisms for providing secure automated communications across the Internet using VirnetX’s proprietary Secure Domain Names and Secure Domain Name Registry service. Applications such as VoIP, instant messaging, smart phones, net books, eReaders, video conferencing, file sharing, secure presence and collaboration to remote PC access, secure directory services, e-commerce and online banking—regardless of device type, software or operating system can benefit from integrating VirnetX’s Secure Domain Names.
VirnetX plans to license its technology to makers of chips, servers, smart phones, laptops, net books and other devices and services gearing up for the 4G market.
VirnetX Holding Corporation, an Internet security software and technology company, is engaged in commercializing its patent portfolio, developed from work done for the Central Intelligence Agency, by developing a licensing program as well as developing software products designed 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 48 U.S. and international patents and pending applications that were recently declared as essential for 4G security specifications and provide the foundation for the Company’s unique GABRIEL Connection Technology. For more information, please visit www.virnetx.com.
Forward Looking Statements
Statements in this press release that are not statements of historical or current fact constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements 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. 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 the Company’s Annual Report on Form 10-K filed with the SEC on March 31, 2010.Contact
VirnetX Holding Corporation