VirnetX Announces Partnership and Equity Position in OmniTeq
VirnetX Teams Up with AI and Predictive Analytics Firm for Advanced Cybersecurity and Protective AI Offerings
ZEPHYR COVE, Nev., Aug. 22, 2023 /PRNewswire/ -- VirnetX Holding Corporation (NYSE: VHC) today announced it has signed an agreement for an equity investment in OmniTeq, a prominent provider of customized military and government Artificial Intelligence (AI) solutions. VirnetX takes an equity position in OmniTeq and will become the exclusive provider of cybersecurity solutions for OmniTeq's AI offerings. Along with collaborative development of next-generation cybersecurity and protective AI solutions, OmniTeq will sell VirnetX's Matrix and War Room products to their customers.
"VirnetX is extremely excited to partner with OmniTeq. Our equity position demonstrates our confidence in OmniTeq's strategic direction and innovation," said Kendall Larsen, VirnetX CEO and President. "OmniTeq is a cutting-edge company in the military and AI space with their product AThENA. We look forward to integrating AThENA with VirnetX Matrix and War Room into Samsung display products that we believe will create the ultimate secure and smart environment."
OmniTeq will also participate in selling VirnetX Matrix and War Room secured Samsung display products into which they plan to integrate AThENA and offer this package to their existing federal and commercial customers, including Colliers International, Skinwalker Ranch and the US military.
"OmniTeq is delighted to collaborate with VirnetX, and their equity stake underscores our mutual commitment to shaping the future," stated Jim Royston, CEO of OmniTeq. "In today's digital landscape, there's a pressing need to merge artificial intelligence, machine learning, and cybersecurity to authenticate and protect our clients' most sensitive data. The capability to deliver intelligent and secure online products and services represents the next wave of innovation. By integrating OmniTeq's AI offerings and our AThENA product with VirnetX's Matrix and War Room, we aim to bring unparalleled cybersecurity solutions and protective AI to the marketplace."
Through this integration, VirnetX and OmniTeq plan to bring together world-class technologies to provide joint customers with significant innovation benefits and comprehensive security protection.
"In a world where digital threats are ever-evolving, the alliance between OmniTeq and VirnetX stands as a beacon of resilience. Our joint commitment is more than a business partnership; it's a pledge to safeguard our nation's vital infrastructure and to ensure that corporations can thrive securely. Together, we believe we're not just fortifying defenses but also shaping the future of national and corporate security." - General Lance W. Lord (ret) Chairman of Board at OmniTeq.
"We believe combining OmniTeq's disruptive AI and predictive analytics solutions and VirnetX's security suite of products will empower our customers with data-driven decision making and bolster their security posture," said Brandon Fugal, board member at OmniTeq and owner of Skinwalker Ranch. "OmniTeq is thrilled to collaborate with VirnetX because we expect our joint innovations will transform the future of AI and IT security and operations."
About VirnetX
VirnetX Holding Corporation is an Internet security software and technology company with patented technology for Zero Trust Network Access ("ZTNA") based secure network communications. VirnetX's software and technology solutions, including its Secure Domain Name Registry and Technology, VirnetX One™, VirnetX War Room™, VirnetX Matrix™, and Gabriel Connection Technology™, are designed to be device and location independent, and enable a secure real-time communication environment for all types of enterprise applications, services, and critical infrastructures. The Company's patent portfolio includes over 200 U.S. and foreign granted patents, validations, and pending applications. For more information, please visit www.virnetx.com.
About OmniTeq
OmniTeq provides Artificial Intelligence/Machine Learning and predictive analytic solutions specializing in data management, advanced data analysis, and custom data visualization. With a commitment to empowering organizations through data-driven decision-making, the company offers end-to-end solutions that enable clients to harness the power of their data. Learn more at www.omniteq.com.
Special Note Regarding Forward-Looking Statements
This press release should be read in conjunction with our filings with the Securities and Exchange Commission. Statements herein may constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act").
These forward-looking statements are based upon our current expectations, estimates, assumptions, and beliefs concerning future events and conditions and may discuss, among other things, expectations regarding the product, product integration, collaborations, partnerships and the impact on security solutions. Any statement that is not historical in nature is a forward-looking statement and may be identified by the use of words and phrases such as "anticipates," "believes," "estimates," "expects," "intends," "plans," "predicts," "projects," "will be," "will continue," "will likely result in," and similar expressions. Readers are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements are necessarily subject to risks, uncertainties, and other factors, many of which are outside our control, and could cause actual results to differ materially from such statements and from our historical results and experience. These risks, uncertainties and other factors include, but are not limited to risks detailed in our filings with the Securities and Exchange Commission (the "SEC"). Readers are cautioned that it is not possible to predict or identify all the risks, uncertainties and other factors that may affect future results and that the risks described herein should not be considered a complete list. Any forward-looking statement speaks only as of the date on which such statement is made.
EXCEPT AS REQUIRED BY LAW, WE UNDERTAKE NO OBLIGATION TO UPDATE OR REVISE ANY FORWARD-LOOKING STATEMENT AS A RESULT OF NEW INFORMATION, FUTURE EVENTS OR OTHERWISE.
Investor Relations
VirnetX Holding Corporation
415.505.0456
ir@virnetx.com
View original content:https://www.prnewswire.com/news-releases/virnetx-announces-partnership-and-equity-position-in-omniteq-301906634.html
SOURCE VirnetX Holding Corporation
