VirnetX (VHC) Enters Letter of Intent with VeriSign (VRSN) To Collaborate In Mobile Directory Services

December 28, 2009 10:07 AM EST
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On December 23, 2009, VirnetX, Inc., the principal operating subsidiary of VirnetX Holding Corporation (NYSE: VHC), entered into a letter of intent with VeriSign, Inc. (NASDAQ: VRSN) under which VirnetX and VeriSign intend to collaborate in the development of mobile directory services and solutions using secure domain names and PKI certificate infrastructure. The strategic relationship contemplated by the letter of intent remains subject to, among other things, the negotiation, execution and delivery of definitive agreements. The letter of intent also provides for a “no shop” period until March 23, 2010, during which period the parties have agreed not to solicit or encourage proposals from any other person or entity regarding a strategic relationship, the primary purpose thereof is to assess and evaluate the technical, market and commercial viability to jointly develop and provide the services contemplated by the letter of intent.

The information contained in this report is furnished and not deemed to be filed for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section. The information in this Current Report on Form 8-K shall not be incorporated by reference into any filing or other document pursuant to the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing or document.

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