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VirnetX Slays Apple In FaceTime Patent Battle

In March, the firm will pursue infringement claims against Cisco (CSCO - Get Report) and private equity-owned Avaya. According to the company's statements, VirnetX's patent portfolio includes 20 U.S. and 32 international patents and over 100 pending applications.

In January, William Blair analysts highlighted that the Siemens ruling, and a licensing agreement with the Enterprise Communications division of the German conglomerate may help VirnetX in getting royalty agreements with Cisco and Avaya for its IP private branch exchange patents.

VirnetX shares rose over 5% to $35.91 in early afternoon trading on Wednesday. After big 2012 stock gains, VirnetX's market cap now stands at $1.84 billion.

Apple has not yet responded to TheStreet's request for comment on this story.

-- Written by Antoine Gara in New York

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