Japanese Based Technology Developer & Service Provider Cites Memo of Understanding from Client to Use Gabriel Secure Communications
ZEPHYR COVE, Nev., May 23, 2019 /PRNewswire/ -- VirnetX™ Holding Corporation (NYSE AMERICAN: VHC), an Internet security software and technology company, and IP Dream, a Japanese based strategic technology developer and service provider, announced today that on April 18, 2019, they signed a non-exclusive Distribution and Service Agreement for IP Dream to sell VirnetX's Gabriel Collaboration Suite as well as VirnetX's Secure Domain Name technology to its clients in Japan and greater Asia.
"We look forward to presenting VirnetX's secure communication technology to our major partners," said Jiro Shimoyama Representative Director, President of IP Dreams, Inc. "This secure communication technology is needed, and we feel that our partners will embrace it. We already have a Memo of Understanding from a leading Japanese office/home security company expressing that they imminently plan to use Gabriel for their services involving surveillance cameras and their company's own security needs. This company has the largest market share in Japan and has global presence fulfilling similar needs outside of Japan."
"IP Dream is an excellent company and a perfect partner to represent us in Japan and the rest of Asia," said Kendall Larsen, VirnetX CEO and President. "IP Dream is a recognized Japanese leader in technology development and services with an impressive, tier one client list that we look forward to introducing and implementing Gabriel."
About IP Dream
We, the Unprecedented Dream (IP Dream), provide the IT services needed in the world market with the slogan, "First from the world." In order to provide services to companies worldwide, we modularize the necessary services and technologies and provide what is needed in each market in a way that suits the market. In addition, since its inception, we operate as a leading-edge technology company that consistently provides R & D to technology and service provision, and contributes to the service construction of many global market partners. We provide services in Japan, the United States, India, Canada, Australia, New Zealand, the United Kingdom, etc. In addition, service provision to East Asian markets such as Hong Kong, Taiwan, China, etc., and preparation for South American markets such as Brazil, Mexico etc. are also ready, and our technology and service provision area is expanding steadily. For more information about IP Dream please visit our website: www.ip-dream.co.jp/ja/
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, eReaders and video conferencing. The Company's patent portfolio includes over 115 U.S. and international patents and over 50 pending applications. For more information, please visit www.virnetx.com
Forward Looking Statements
Statements in this press release that are not statements of historical or current fact, including statements regarding the strength of VirnetX's intellectual property, 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 about the markets in which the Company operates, management's beliefs, 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 (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; (2) the ability to capitalize on the Company's 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; (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. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms "believes," "belief," "expects," "intends," "anticipates," or "plans" to be uncertain and forward-looking. 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 Company's Annual Report on Form 10-K filed on March 19, 2019 and Quarterly Report on Form 10-Q filed with the SEC on May 10, 2019. 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.
VirnetX Holding Corporation