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VirnetX, Mitel sign patent license agreement

VirnetX (VHC) and Mitel (MITL) announced that they signed a patent license agreement. Under the terms of the agreement, VirnetX has agreed to license certain of its patents to Mitel, for a one-time payment to VirnetX and 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. Under the terms of the Agreement, the Parties have also agreed to dismiss the patent infringement case brought by VirnetX before the U.S. District Court for the Eastern District of Texas. All other aspects of the agreement were not disclosed.