RESTON, Va. and ZEPHYR COVE, Nev., Jan. 29, 2013 /PRNewswire/ -- VirnetX Holding Corp. (NYSE MKT: VHC) and Siemens Enterprise Communications GmbH & Co. KG, and Siemens Enterprise Communications Inc., today announced they have signed a Patent License Agreement, which will allow VirnetX to license certain of its patents to Siemens Enterprise Communications, for a one-time payment to VirnetX and an ongoing reasonable royalty for future sales. The agreement will extend through the expiration of the licensed patents with respect to certain current and future IP-encrypted products.
In addition, VirnetX and Siemens Enterprise Communications have agreed to dismiss the patent infringement case brought by VirnetX against Siemens before the U.S. District Court for the Eastern District of Texas.
"We are pleased to have come to an agreement with Siemens Enterprise Communications on terms consistent with our VirnetX IP Licensing program," said Kendall Larsen, VirnetX CEO and President.
About Siemens Enterprise CommunicationsSiemens Enterprise Communications is a leading global provider of unified communications (UC) solutions and network infrastructure for enterprises of all sizes. Leveraging 160 years of experience, we deliver innovation and quality to the world's most successful companies, backed by a world-class services portfolio which includes international multi-vendor managed and outsourcing capabilities. Our OpenScape communications solutions provide a seamless and efficient collaboration experience – on any device – which amplifies collective effort and dramatically improves business performance. Together, our global team of UC experts and service professionals set the standards for a rich communications experience that empowers teams to deliver better results. Siemens Enterprise Communications is a joint venture of The Gores Group and Siemens AG, and includes Enterasys Networks, a provider of network infrastructure and security solutions, creating a complementary and complete enterprise communications solutions portfolio.