VirnetX Hires Chief Operating Officer for Japan Licensing

Rhea-AI Summary

VirnetX Holding Corporation (VHC) has appointed Darl McBride as Chief Operating Officer for its Japanese subsidiary. McBride, who has a proven track record with Novell in Japan, will focus on licensing efforts alongside strategic partner IP Dream. He is fluent in Japanese and brings significant industry experience, having previously led a billion-dollar joint venture. McBride expressed optimism about VirnetX's potential for growth in Japan and Asia. The company holds extensive patents in secure communications, which could leverage McBride's expertise.

Positive

• Darl McBride's appointment may strengthen VirnetX's technology licensing efforts in Japan.
• McBride's previous success with Novell indicates a strong potential for growth in the region.

Negative

• Potential concerns about continuity and the experience gap in leadership transitions.

ZEPHYR COVE, Nev., Jan. 11, 2021 /PRNewswire/ -- VirnetX™ Holding Corporation (US NYSE: VHC), an Internet security software and technology company, announced today that it has hired Darl McBride as Chief Operating Officer (COO) for its Japanese subsidiary, VirnetX KK, reporting to VirnetX CEO and President, Kendall Larsen.  McBride will further VirnetX's technology licensing efforts in Japan including working with IP Dream, a Japanese based strategic technology distributor and service provider.

Previously, McBride headed up Novell's dramatic growth in Japan by partnering with Masa Son, founder and CEO of Softbank and Kazuya Watanabe (former NEC PC President.) Together, they built a joint venture between Novell and Softbank that turned into a billion-dollar company and Novell's largest profit center outside of the Americas.  McBride speaks fluent Japanese and has lived in Japan for 4 years. 

"Darl will be a great resource to achieving our licensing objectives in Japan," said Kendall Larsen, VirnetX CEO and President.  "Darl knows the technological and cultural landscape of Japan as illustrated in his success with Novell."

"I believe VirnetX's asset rich technology is poised for explosive growth in Japan and other Asian markets," said Darl McBride, VirnetX KK COO.  "I'm excited to join the VirnetX team to facilitate this growth in concert with IP Dream and other established Japanese relationships."

Most recently, McBride was Founder and CEO of Shout, a global fan engagement company for sports and entertainment businesses that developing Apps to reach over 140 million fans worldwide. Prior to that he was President and CEO of software company SCO Group. He graduated Magna Cum Laude with a BA degree from Brigham Young University and has an MA in Industrial Relations from the University of Illinois at Urbana-Champaign where he was awarded a Merit Fellowship.

McBride has been featured by many media outlets including Fortune magazine, Wired, Wall Street Journal, Business Week, CNN, and CNBC. He has also been a keynote speaker at global events ranging from COMDEX in Las Vegas, Networld + Interop in Russia, Japan Government Technology Conference in Tokyo, DEMO new technology conference and at the Harvard/MIT Intellectual Property in the Digital Age Seminar.

About VirnetX

VirnetX Holding Corporation is an Internet security software and technology company with patented technology for secure communications including 4G LTE and 5G security. The Company's software and technology solutions, including its secure domain name registry and Gabriel Connection Technology™, are designed to facilitate secure communications and to create a secure environment for real-time communication applications such as instant messaging, VoIP, smart phones, e-Readers and video conferencing. The Company's patent portfolio includes over 190 U.S. and foreign granted patents/validations and pending applications. For more information, please visit http://www.virnetx.com/.

Forward-Looking Statements

Statements in this press release that are not statements of historical or current fact, including the statement regarding VirnetX's (the "Company") licensing efforts and its proposed expansion in Japan and Asia, may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995.  Such forward-looking statements are based on expectations, estimates and projections, and certain assumptions made by management and 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, including but not limited to,  including but not limited to (1) the outcome of any legal proceedings that have been or may be initiated by the Company  or that may be initiated against the Company, including pending and future inter partes review proceedings in the Patent and Trademark Office and appeals therefrom; (2) the ability to capitalize on patent portfolio and generate licensing fees and revenues; (3) the ability of the Company to be successful in entering into licensing relationships with its targeted customers on commercially acceptable terms, including in Japan; (4) potential challenges to the validity of the Company's patents underlying its licensing opportunities; (5) the ability of the Company to achieve widespread customer adoption of the Company's Gabriel Communication Technology™ and its secure domain name registry; (6) the level of adoption of the 3GPP Series 33 security specifications; (7) whether or not the Company's patents or patent applications may be determined to be or become essential to any standards or specifications in the 3GPP LTE, SAE project or otherwise; (8) the extent to which specifications relating to any of the Company's patents or patent applications may be adopted as a final standard, if at all; and (9) the possibility that Company may be adversely affected by other economic, business, and/or competitive factors.    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-Q filed on November 6, 2020 and subsequent filings with the Securities and Exchange Commission, as applicable. Many of the factors that will determine the outcome of the subject matter of this press release are beyond the Company's ability to control or predict.  Except as required by law, the Company is under no duty to update any of the forward-looking statements after the date of this press release to conform to actual results.

Contact:
Investor Relations
VirnetX Holding Corporation
415.505.0456
ir@virnetx.com

View original content:http://www.prnewswire.com/news-releases/virnetx-hires-chief-operating-officer-for-japan-licensing-301205113.html

SOURCE VirnetX Holding Corporation

FAQ

Who is the new COO for VirnetX's Japanese subsidiary?

Darl McBride has been appointed as Chief Operating Officer for VirnetX KK.

What are Darl McBride's qualifications for his role at VirnetX?

McBride has extensive experience in technology and business development, having led Novell's growth in Japan.

How will McBride's hiring impact VirnetX's business in Japan?

His expertise is expected to enhance licensing efforts and facilitate growth in the Japanese market.

What is the focus of VirnetX's operations in Japan?

VirnetX aims to expand its technology licensing efforts, particularly through its partnership with IP Dream.

What technologies does VirnetX specialize in?

VirnetX focuses on secure communications technology, including solutions for 4G LTE and 5G.