VirnetX And HTC Corporation Enter Into A Patent Standstill Agreement
ZEPHYR COVE, Nevada,– August 21, 2017 – VirnetX™ Holding Corporation (NYSE AMERICAN: VHC), an Internet security software and technology company, today announced it has entered into a Patent Standstill Agreement with HTC Corporation (TWSE: 2498), a global leader in innovation and design. The deal was facilitated by VirnetX’s licensing partner, IPVALUE Management Inc.
“This is a significant development as we continue to grow our business outside the US,” said Sameer Mathur, Vice President of Corporate Development and Product Marketing for VirnetX. “This standstill agreement gives both parties more time to discuss and negotiate a broad license, including a license to VirnetX’s LTE-related patents.”
“We are pleased to have assisted VirnetX in reaching this agreement with HTC, so that a future deal can be consummated without the need for litigation,” said Paul Riley, Vice President of Licensing for IPValue.
VirnetX Holding Corporation is an Internet security software and technology company with patented technology for secure communications including 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 over 115 U.S. and international patents and over 50 pending applications. For more information, please visit www.virnetx.com
About IPVALUE Management
IPVALUE is the leading provider of Intellectual Property transactional and advisory services for the world’s premier technology companies, R&D labs, and owners of significant IP portfolios. Founded in 2001, IPVALUE’s mission is to deliver a return on invention by licensing the IP portfolios of leading innovators. Since inception, the firm has helped these innovators realize over $1.5B in revenues from IP licensing and sales. For more information, visit www.ipvalue.com
Forward Looking Statements
Statements in this press release that are not statements of historical or current fact, including statements regarding the strength of VirnetX’s intellectual property, constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. 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;, including pending and future inter partes review proceedings in the Patent and Trademark Office (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 on March 16, 2017 and Quarterly Report on Form 10-Q filed with the SEC on August 9, 2017. 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 is under no duty to update any of the forward-looking statements after the date of this press release to conform to actual results.
VirnetX Holding Corporation
VirnetX, Gabriel Collaboration Suite, Gabriel Secure Communications Platform and GABRIEL Connection Technology are trademarks of VirnetX Holding Corporation. Other company and product names may be trademarks of their respective owner