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8-K - VIRNETX 8-K - VirnetX Holding Corp | virnetx_8k-120209.htm |
Exhibit 99.1
VirnetX
Declares Essential Patents for 4G Security
Leadership
in Security Sector Greatly Expands Licensing Opportunities
SCOTTS
VALLEY, Calif. – December 2, 2009 – VirnetX Holding Corporation (NYSE Amex:
VHC), a secure real-time communications and collaboration technology company,
today announced that it has declared to the 3GPP (3rd
Generation Partnership Project) that its U.S. and international patents are or
may be essential to Long Term Evolution (LTE) and 4G wireless specifications.
The Company declared 23 patents and 28 applications that specifically pertain to
4G security standards.
VirnetX
believes it will hold the majority of 4G essential patents related to Series 33
specifications that define security standards for LTE/4G and is prepared to
license the use of its patents for incorporation into 4G related products such
as chips, servers, smartphones, laptop computers, etc.
“Declaring
our patents as essential to 4G is a significant complement to our already active
licensing model,” said Kendall Larsen, VirnetX CEO and
President. “This declaration opens the door today for hundreds of
companies to license from us as they prepare for 4G. In addition, we
believe that VirnetX not only holds the majority of security patents for 4G but
also the most important.”
“Aberdeen’s
benchmark research confirms the insatiable demand for mobile bandwidth, from
both enterprise end-users and consumers, for the convenience of accessing data
in every imaginable format,” said Derek E. Brink, vice president and research
fellow for IT security, Aberdeen Group. “As the massive transition from 3G to
LTE/4G plays out over the next several years to meet this demand, essential 4G
patent holders hope to realize a significant potential revenue stream from both
upgrades and new equipment. VirnetX, by declaring its patents are or may be
essential for security specifications as outlined by the 3GPP, sits in the
trajectory of this transition and by doing so is positioning itself to do
business with virtually every company transitioning to 4G.”
The 3GPP
is standardizing next generation wireless technology and brings together six
standards organizations from North America, Europe and Asia to publish mobile
standards including LTE/4G, GSM, GPRS and W-CDMA and is responsible for
maintaining a registry of Intellectual Property Rights (IPR) declarations
relevant to 3GPP standards that are submitted through organizational partners
such as European Telecommunications Standards Institute (ETSI) and Alliance for
Telecommunications Industry Standards (ATIS). For more information
about the 3GPP and its members go to www.3gpp.org
About
VirnetX
VirnetX Holding Corporation, a secure
real-time communications and collaboration technology company, is engaged in
commercializing its patent portfolio by developing a licensing program, as well
as developing software products designed to create a secure environment for
real-time communications such as instant messaging and Voice over Internet
Protocol. The Company’s patent portfolio includes over 48 U.S. and
international patents and pending applications which specifically cover the
Company’s unique GABRIEL Connection Technology. For more information, please
visit www.virnetx.com
Safe
Harbor Agreement
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, 2009 and most recently in the Company’s
Quarterly Report on Form 10-Q filed with the SEC on November 9,
2009.
Contact:
Greg
Wood
VirnetX
Holding Corporation
831.438.8200
greg_wood@virnetx.com