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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) 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.
VirnetX Holding Corporation has entered a non-exclusive sales agreement with Solution Synergy to market its VirnetX One™ product suite, focusing on healthcare and government sectors vulnerable to cyber threats. The partnership aims to leverage Zero Trust technology to provide enhanced security solutions amid rising ransomware attacks. Kendall Larsen, CEO of VirnetX, emphasized the significance of this partnership, highlighting Solution Synergy's extensive experience in healthcare IT. The VirnetX Matrix™ and War Room™ products are designed to safeguard enterprise applications and facilitate secure communications.
VirnetX Holding Corporation (NYSE: VHC) has announced the launch of VirnetX Matrix, a security solution designed to protect private access to Internet applications and services. This platform allows real-time network management and enforces access policy controls to safeguard against cyber threats. Matrix utilizes the VirnetX One SaaS platform, employing a Zero Trust architecture and patented technology. With the rise of remote work and interconnected devices, the Matrix aims to secure hybrid workforces and corporate applications against evolving security threats.
VirnetX Holding Corporation (NYSE: VHC) has launched War Room, a secure video conferencing platform designed to protect sensitive information from cyber threats. Built on a Zero Trust framework and powered by VirnetXOne's Gabriel technology, War Room offers features such as unlimited meetings, secure participant verification, and AES-256 encryption. The global video conferencing market is projected to reach $7.71 billion by 2025, highlighting the demand for secure communication solutions. This initiative aims to safeguard remote work environments across various sectors, including legal and medical.
VirnetX Holding Corporation (NYSE: VHC) announced the adoption of its Zero Trust Networking Technology by IASIS Technologies International to enhance data protection in health technology. This partnership addresses critical data security needs amidst rising ransomware threats, with a notable 34% of healthcare organizations affected in 2021. IASIS is involved in a federally funded study on m-TBI and PTSD, emphasizing the necessity for robust data recovery solutions. VirnetX's technology aims to improve data integrity and availability, aligning with the federal government's recommendation for zero trust security in organizational strategies.
VirnetX Holding Corporation (NYSE: VHC) announced the implementation of its Zero Trust Networking Technology by the National Credit Union ISAO (NCU-ISAO) alongside Asgard's Zero-Trust EverSafe Backup and Disaster Recovery Service. This partnership aims to enhance cyber resilience against ransomware, which saw a staggering 1,318% increase in attacks from 2020 to 2021. The technology secures data across private domains, ensuring integrity and availability. With 76% of organizations adopting zero trust security, this collaboration represents a step forward in protecting critical data assets.
VirnetX Holding Corporation (NYSE: VHC) has announced the promotion of Dr. Victor Larson to Chief Technical Officer (CTO) and the hiring of Kathy Allanson as Chief Financial Officer (CFO). Dr. Larson, formerly Vice President of Research and Development, is a co-inventor of the company's technologies and has extensive experience in secure communication solutions for the Department of Defense. Kathy Allanson brings over 30 years of financial expertise from roles at Arthur Andersen and The Walt Disney Company, and is a Certified Public Accountant.
VirnetX Holding Corporation (NYSE: VHC) announced the submission of an Agreed Bill of Costs and Prejudgment Interest totaling $75,701,763.18 related to a $502,848,847 jury verdict against Apple. This brings the final judgment for Apple’s infringing devices to $578,550,610. Apple does not dispute the figures and agreements; however, they retain the right to appeal. Previously, VirnetX received $454,033,859 from a separate case against Apple. The case pertains to secure communication technologies, including issues related to 4G LTE and 5G security.
On January 15, 2021, the District Court for the Eastern District of Texas affirmed a $502.8 million jury verdict in favor of VirnetX against Apple for patent infringement. The court also granted additional pre-trial and post-trial interest, supplemental damages, costs, and an ongoing royalty rate of $0.84 per infringing device. The ruling is based on infringements of VirnetX's patents regarding network security. VirnetX has a significant patent portfolio and seeks to leverage this ruling for future revenue generation.
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