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VirnetX Holding Corporation reports developments tied to its internet security software and patented Zero Trust Network Access technologies for secure communications. Company updates commonly address the Secure Domain Name Registry, VirnetX One, War Room, VirnetX Matrix and related secure real-time communications capabilities for enterprise applications, critical infrastructure and government users.
Recurring news also covers VirnetX's defense and intelligence-market activity, including government contract access, facility certifications, cooperative research arrangements, technology demonstrations and digital-engineering services. Corporate updates include executive technical leadership, company briefings and public-market matters such as the completed transfer of VHC's common stock listing to Nasdaq.
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VirnetX Holding Corporation (NYSE: VHC) has formed a non-exclusive agreement with WeSecure Inc., aiming to distribute VirnetX cybersecurity products across the U.S., Canada, and the Middle East. This partnership integrates VirnetX's advanced security technologies into WeSecure's offerings, enhancing their cybersecurity infrastructure.
Both companies emphasize the increasing necessity for robust security solutions in response to rising cyber threats. VirnetX's technologies, including the VirnetX One™, War Room™, and VirnetX Matrix™, are positioned to improve organizational cybersecurity postures significantly.
VirnetX Holding Corporation (NYSE: VHC) announced a special cash dividend of $1.00 per common share, to be paid on or about April 17, 2023. Shareholders of record on April 10, 2023 will receive the dividend. The NYSE indicates that shares will trade with 'due-bills' until the payment date, with an ex-dividend date set for April 18, 2023. Investors are advised to consult their brokers regarding these due-bill procedures and to discuss potential tax implications with a tax advisor. VirnetX specializes in secure communications technology, holding over 200 patents globally.
VirnetX Holding Corporation (NYSE: VHC) announced that the United States Court of Appeals for the Federal Circuit upheld the Patent Trial and Appeal Board's decision, declaring claims of U.S. Patent Nos. 6,502,135 and 7,490,151 unpatentable. CEO Kendall Larsen expressed disappointment with the ruling, stating the company may seek further legal recourse. Despite these challenges, VirnetX confirmed that its $1.00 Special Cash Dividend per share remains unaffected by any litigation outcomes.
VirnetX Holding Corporation (NYSE: VHC) has declared a special cash dividend of $1.00 per common share, totaling approximately $71.4 million, to be paid on April 17, 2023. Shareholders on record by April 10, 2023 will receive this dividend, marking a total distribution exceeding $165 million throughout its public history. The company has committed to distribute 80% of future litigation proceeds against Apple Inc., pending the outcome of a significant $500 million damages ruling. Additionally, VirnetX plans to enhance its Board with an independent director to improve diversity.
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.