VirnetX Hires Sales Team to Accelerate Commercial Adoption of Gabriel Secure Communications

3 Experienced Executives to Focus on Enterprise, OEM, and Channel Partners

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Oct 06, 2015, 10:00 ET

ZEPHYR COVE, Nev., Oct. 6, 2015 /PRNewswire/ -- VirnetX Holding Corporation (NYSE MKT: VHC), an Internet security software and technology company, announced today that it has hired a team of sales executives to advance the introduction of the Gabriel Secure Communications platform and application suite to the commercial market. The company has named Willard Thomas as Vice President of Worldwide Sales and Mark McCoy and David Chung as Regional Vice Presidents.

The new sales team will offer enterprise-scale implementations of Gabriel Secure Communications Platform and Gabriel Collaboration Suite for mid-size to large organizations who want to provide data security for their employees, customers and partners. Members of the new team have extensive sales backgrounds in enterprise, OEM and channel sales for major software and networking companies which included working with national accounts, resellers and government agencies.

Willard Thomas, Vice President of Worldwide Sales, will be the team leader reporting directly to the CEO. His extensive experience includes; Vice President of Sales for Celestix Networks and executive management positions at Niksun, Network Intercept, StillSecure, Fortress Technologies and RSA Security. He has been involved with security sales since 1999 and his expertise includes forensics- based cybersecurity, network security and performance management, end point security, network access control, wireless security, and embedded security solutions. His enterprise sales experience includes selling to the Fortune 500, SME, government and international markets. Thomas holds a Bachelor of Science Degree in Business Administration from the University of Michigan.

Mark McCoy, Regional Vice President, will have responsibilities to include partnering with OEM's, ODM's and the Europe region. Most recently Vice President of Sales for NeuroSky Inc., he has held executive management positions at, Ecrio, PhoneSpots (SnapUp) Sensory Networks (IBM), Actividentity (HID Global), Veritas (Symantec), and Novell. His security expertise includes strong authentication, physical/ logical security, identity management, network security, performance management, network access control, wireless security, embedded security solutions and biometrics. He has licensed technology to over 100 companies. McCoy holds a Bachelor of Science Degree in Business Management, Computer Science and Marketing from Missouri State University.

David Chung, Regional Vice President, will be responsible for distribution partners, specifically carriers, ISPs, channel partners and the Asia region. Recently a Director, Partner Sales at NeuroSky, Inc., he has held key management positions at Novell, One Touch Systems, ActivIdentity (HID), Phoenix Technologies, Fortress Technologies, and iForem. Involved with security sales since 2001, his expertise includes working with industry partners to deliver multi-factor user authentication, physical/logical access & control, data protection, end point security, network access control, wireless security, and embedded security solutions. He has enterprise sales experience selling to the Fortune 500, SME, government and international markets. Chung holds a Bachelor of Science Degree in Agricultural Economics from the University of California at Davis.

"We are pleased to have this experienced team leading our commercial sales efforts and to initiate relationships with OEMs and service providers as well as resellers and integrators," said Kendall Larsen, VirnetX CEO and President. "Their unique combined skill sets will be a great asset as we deploy Gabriel to commercial end users that want to secure their corporate communications."

About Gabriel

The Gabriel Collaboration Suite™ is built on top of the Gabriel Secure Communication Platform™. This platform implements VirnetX's patented Gabriel Connection Technology™ to allow Internet devices to instantly and securely connect and communicate with each other.

The underlying technology is a virtual encrypted secure communications infrastructure that overlays the physical infrastructure of the Internet. It consists of software and network services that enable automatic initiation of peer-to-peer (P2P), peer-to-server, and server-to-server encrypted communication links between computers.

These encrypted links or channels can support multiple sessions, protocols and services. The core of the service is a mechanism that intercepts DNS traffic and determines whether the domain being accessed is a secure domain protected by VirnetX.

The Gabriel software automatically performs cryptographic peer authentication and security policy enforcement. Private keys never leave the peer platforms, and public keys are certified by VirnetX signed digital certificates.

Online presence of users and devices are discovered through domain name lookups and automatic registering and querying of our connection servers.

Network address translation (NAT) and firewall device traversal are achieved by automatic discovery and negotiation of relay services when required on a peer-to-peer connection basis. When relay services are mandatory, peer-to-peer encryption is maintained and the relay server receives and forwards encrypted data packets to maintain end-to-end data encryption.

Current applications easily available through the Gabriel interface are Secure Mail, Secure Messaging, Secure Voice Call, Secure Video Call and Secure Share & Sync.

For more information, please visit www.gabrielsecure.com

About VirnetX

VirnetX Holding Corporation is an Internet security software and technology company with patented technology for secure communications including 4G LTE 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 112 U.S. and international patents and over 75 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 Quarterly Report on Form 10-Q filed with the SEC on August 10, 2015. 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.

Contact:
Investor Relations
VirnetX Holding Corporation
775.548.1785
[email protected]

VirnetX, Gabriel Collaboration Suite, Gabriel Secure Communications Platform and GABRIEL Connection Technology are trademarks of VirnetX Holding Corporation. Other company and product names may be trademarks of their respective owners.

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