Voltage Security Agrees to Enter Into Significant Licensing Agreement
STAMFORD, CT--(Marketwired - Apr 22, 2014) - Protegrity USA, Inc., the leading provider of end-to-end data security solutions, announced today that Voltage Security, Inc. has sought and agreed to a licensing settlement payment to Protegrity for infringing on its software patents. This outcome serves as further proof of the patents' strength, holding steadfast in the court system, and Protegrity's commitment and willingness to license its innovative security technology to companies seeking to deliver solutions in this market.
"We are pleased to reach an agreement, the largest in our company history, that underscores the significant value companies derive from Protegrity's technological innovations. When approached by Voltage CEO Sathvik Krishnamurthy about settling this matter, I was supportive of entering into a licensing arrangement and welcomed the discussion," said Suni Munshani, CEO for Protegrity. "Protegrity is proud of our innovations in the enterprise security space and committed to protecting our intellectual property. The settlement will allow us to direct our resources to continued innovation, improving our competitive position, and servicing the demand for data security solutions. We will continue to pursue the pending lawsuits against other alleged infringers and expect future licensing agreements."
This is an amicable financial settlement which grants Voltage Security a license for the right to use Protegrity's patented concepts and methods for which they were infringing. The initial lawsuit involved the core patents of Protegrity's data security software business -- U.S. Patent 6,321,201, U.S. Patent 6,693,980, and U.S. Patent 7,325,129. More recently, additional lawsuits were filed on U.S. Patent 8,402,281 and U.S. Patent 8,661,263. There are no additional lawsuits pending.
Headquartered in Stamford, Conn., Protegrity provides high performance, infinitely scalable, end-to-end data security solutions that protect sensitive information across the enterprise from the point of acquisition to deletion. The company's award winning patented software products span a variety of data protection methods, including end-to-end encryption, Vaultless Tokenization, masking and monitoring and are backed by several important data protection technology patents. Currently, more than 200 enterprise customers in retail, financial services, oil & gas, insurance, travel and transportation rely on Protegrity's comprehensive data security solutions to enable compliance for PCI DSS, HIPAA, HITECH Act and other data security requirements while protecting their sensitive data, brand, and business reputation. For more information, please log on to http://www.protegrity.com.