VirnetX™ Holding Corporation (NYSE: VHC), an Int
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Posted On: 06/02/2017 6:53:01 AM
VirnetX™ Holding Corporation (NYSE: VHC), an Internet security software and technology company, and Public Intelligence Technology Associates KK (PITA), a Japanese Private Equity and Strategic Consulting alliance between a consortium of Japanese corporations and financial institutions, Atos, and Wirthlin Worldwide, A Dentons Innovation Group Partnership, jointly announced today that they have entered into a five year, multifaceted definitive agreement to build a strategic alliance of 4G Service Providers, Application Developers, Japanese Content Developers, Government Agencies and Enterprises around Gabriel Technologies. In addition to building this strategic alliance in Japan, this agreement includes a revenue share agreement on all sales of Gabriel Collaboration Suite and other Gabriel products sold in Japan. As a part of this agreement, PITA has agreed to purchase approximately twenty million dollars ($20,000,000) of shares of common stock from VirnetX at an all-cash purchase price of $3.64 per share in a private placement transaction. VirnetX retains the option to repurchase these shares at a small premium.
"This is our first significant strategic alliance outside the U.S.," said Kendall Larsen, VirnetX CEO and President. "It represents a massive opportunity for Gabriel to be the leading provider of secure communications to the Japanese market. The revenue share agreement on all Gabriel sales in Japan has the potential to be very profitable for the company and our shareholders."
"We believe that our alliance with VirnetX creates a great market opportunity to address the growing need for secure communications in Japan in light of the global demand to become more cyber-secure," said Eriya Unten, PITA Executive Director. "The Gabriel Collaboration Suite will provide privacy and security for Japanese corporations and government."
"This is a perfect example of the right strategy and alliance coming together," said Michael Silva, Managing Director at Wirthlin Worldwide International, A Dentons Innovation Group Partnership. "We are excited to help assist VirnetX with their International expansion goals and strategies. This partnership between VirnetX and PITA is a game-changer and creates significant market opportunities in Japan."
"This is our first significant strategic alliance outside the U.S.," said Kendall Larsen, VirnetX CEO and President. "It represents a massive opportunity for Gabriel to be the leading provider of secure communications to the Japanese market. The revenue share agreement on all Gabriel sales in Japan has the potential to be very profitable for the company and our shareholders."
"We believe that our alliance with VirnetX creates a great market opportunity to address the growing need for secure communications in Japan in light of the global demand to become more cyber-secure," said Eriya Unten, PITA Executive Director. "The Gabriel Collaboration Suite will provide privacy and security for Japanese corporations and government."
"This is a perfect example of the right strategy and alliance coming together," said Michael Silva, Managing Director at Wirthlin Worldwide International, A Dentons Innovation Group Partnership. "We are excited to help assist VirnetX with their International expansion goals and strategies. This partnership between VirnetX and PITA is a game-changer and creates significant market opportunities in Japan."
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'Everything works out in the end,,,If it hasn't worked out,,it's not the end'
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