VirnetX (News - Alert) Holding Corporation, an Internet security software and technology company, has recently agreed to license certain of its patents to Aastra (News - Alert) USA, Inc., a company at the forefront of the enterprise communication market.
This happened after VirnetX inked an exclusive Patent License Agreement (the "Agreement") with Aastra.
"We are pleased to have come to an agreement with Aastra on terms consistent with our VirnetX IP Licensing program," said Kendall Larsen (News - Alert), chief executive officer and chairman of VirnetX.
According to the new agreement, Aastra is responsible to make one-time payment to VirnetX, and also have to give an ongoing reasonable royalty for all future sales through the expiration of the licensed patents as outlined in the Agreement with respect to certain current and future IP-encrypted products.
"We are pleased to reach a settlement with VirnetX to resolve these matters," said John Tobia, vice president and general counsel at Aastra USA, Inc.
VirnetX Holding Corporation holds patented technology for 4G LTE (News - Alert) security. The company also specializes in secure domain name registry and GABRIEL Connection Technology, which is designed to facilitate secure communications and create a secure environment for real-time communication applications such as instant messaging, VoIP, smart phones, eReaders and video conferencing.
The Company's patent portfolio includes 20 U.S. and 26 international patents and over 100 pending applications.
Two years back, the company had taken initiative to launch a Secure Domain Name Initiative, SDNI, and made active discussions with leading 4G/LTE companies. Next-generation Internet-based applications such as instant messaging, or IM, VoIP, mobile services, streaming video, file transfer and remote desktop require improved security and VirnetX (News - Alert) claims to provide that security.
Edited by Brooke Neuman