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VirnetX Holding Corporation (NYSE: VHC) is a prominent player in the field of Internet security software and technology. The company specializes in commercializing a robust portfolio of patents designed to ensure secure communications. VirnetX’s innovative solutions include the Secure Domain Name Registry, VirnetX One™, War Room™, VirnetX Matrix™, and Gabriel Connection Technology™. These technologies are engineered to be device and location-independent, providing a secure, real-time communication environment across various enterprise applications, services, and critical infrastructures.
At the core of VirnetX’s offerings is its Zero Trust Network Access (ZTNA) architecture, which ensures unparalleled security by granting access strictly based on established trust policies. The company’s secure solutions are widely applicable, benefiting industries ranging from defense and industrial cybersecurity to critical infrastructure protection. Notably, its War Room™ secure videoconferencing technology utilizes a ZTNA framework to keep user data private and safe from potential cyber threats.
Among its recent achievements, VirnetX has formed a significant technology alliance with ObjectSecurity™ LLC. This partnership aims to enhance national security and mitigate production disruptions by integrating VirnetX’s Matrix™ ZTNA solution with ObjectSecurity’s OT.AI™ Platform. This integrated approach offers real-time alerts on cybersecurity vulnerabilities, thereby remaining a step ahead of potential threats.
Additionally, VirnetX has expanded its partnership with Samsung to integrate its secure collaboration tools into Samsung's Interactive Displays. This collaboration supports high-security environments such as Skinwalker Ranch, highlighting VirnetX’s capacity to deliver advanced security solutions for specialized use cases.
Financially, VirnetX is well-positioned with a diverse patent portfolio consisting of over 200 U.S. and international patents. The company continues to innovate, having recently secured an equity investment in OmniTeq, further extending its reach into the military and AI technology sectors. This strategic investment emphasizes VirnetX's dedication to merging advanced AI with top-notch cybersecurity measures.
The company also actively collaborates with organizations like the International Association of Certified ISAOs (IACI) to support public and private sector critical infrastructures. By deploying its Matrix™ ZTNA and War Room™ technologies, VirnetX aids these sectors in safeguarding sensitive communications and ensuring operational resilience against cyber threats.
In a recent development, VirnetX has partnered with Zeleration Technology to provide enhanced cybersecurity and secure communication solutions for consulting, finance, accounting, and law sectors. This partnership focuses on leveraging VirnetX’s War Room and One Security Platform to offer zero trust principles across organizational boundaries, ensuring robust security and privacy.
VirnetX continues to be a leader in the cybersecurity landscape, constantly adapting and expanding its solutions to meet evolving threats. The company’s commitment to innovation and security positions it as a key player in protecting global communication networks.
VirnetX Holding Corporation (NYSE: VHC) has formed a non-exclusive agreement with WeSecure Inc., aiming to distribute VirnetX cybersecurity products across the U.S., Canada, and the Middle East. This partnership integrates VirnetX's advanced security technologies into WeSecure's offerings, enhancing their cybersecurity infrastructure.
Both companies emphasize the increasing necessity for robust security solutions in response to rising cyber threats. VirnetX's technologies, including the VirnetX One™, War Room™, and VirnetX Matrix™, are positioned to improve organizational cybersecurity postures significantly.
VirnetX Holding Corporation (NYSE: VHC) announced a special cash dividend of $1.00 per common share, to be paid on or about April 17, 2023. Shareholders of record on April 10, 2023 will receive the dividend. The NYSE indicates that shares will trade with 'due-bills' until the payment date, with an ex-dividend date set for April 18, 2023. Investors are advised to consult their brokers regarding these due-bill procedures and to discuss potential tax implications with a tax advisor. VirnetX specializes in secure communications technology, holding over 200 patents globally.
VirnetX Holding Corporation (NYSE: VHC) announced that the United States Court of Appeals for the Federal Circuit upheld the Patent Trial and Appeal Board's decision, declaring claims of U.S. Patent Nos. 6,502,135 and 7,490,151 unpatentable. CEO Kendall Larsen expressed disappointment with the ruling, stating the company may seek further legal recourse. Despite these challenges, VirnetX confirmed that its $1.00 Special Cash Dividend per share remains unaffected by any litigation outcomes.
VirnetX Holding Corporation (NYSE: VHC) has declared a special cash dividend of $1.00 per common share, totaling approximately $71.4 million, to be paid on April 17, 2023. Shareholders on record by April 10, 2023 will receive this dividend, marking a total distribution exceeding $165 million throughout its public history. The company has committed to distribute 80% of future litigation proceeds against Apple Inc., pending the outcome of a significant $500 million damages ruling. Additionally, VirnetX plans to enhance its Board with an independent director to improve diversity.
VirnetX Holding Corporation (NYSE: VHC) announced that the City of Bridgeport, West Virginia, has deployed its VirnetX Matrix™ technology to enhance protection against ransomware and malware attacks. This partnership, facilitated by Solution Synergy, aims to secure the city's internet-based applications and critical infrastructure. VirnetX Matrix™ offers Zero-Trust Network Access, providing secure access and real-time network management without the need for expensive hardware upgrades. Since its deployment, Bridgeport has reported positive financial impacts and increased efficiency, aligning with the Department of Homeland Security's cybersecurity goals.
VirnetX Holding Corporation (NYSE: VHC) has announced the deployment of its VirnetX Matrix™ cybersecurity solution by the City of Bridgeport, West Virginia, enhancing protection against ransomware and malware attacks. This initiative, in partnership with Solution Synergy, aims to secure the city's internet applications and infrastructure. The Matrix™ solution offers Zero-Trust Network Access, enabling simple and secure access for employees. Following a previous ransomware incident, Bridgeport experienced positive financial impacts and improved operational efficiency since adoption. VirnetX Matrix™ is noted for its user-friendliness and compatibility with existing systems, eliminating the need for costly hardware upgrades.
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