ZEPHYR COVE, Nev., Oct. 26, 2021 /PRNewswire/ -- VirnetX™ Holding Corporation (NYSE: VHC), an Internet security software and technology company, announced today that the National Credit Union ISAO ("NCU-ISAO"), enhancing Credit Union cyber resilience through information sharing, intelligence, operational guidance, and workforce education, has implemented VirnetX's Zero Trust Networking Technology with Asgard's Zero-Trust EverSafe Backup and Disaster Recovery Service for ransomware protection. EverSafe is built on VirnetX's Zero Trust Networking Technology platform.
VirnetX's Zero Trust Networking Technology with Asgard's Zero-Trust EverSafe Backup and Disaster Recovery Service protects data backups, data in transit, and data at rest on private secure domains, separate and invisible from the public Internet, therefore ensuring data integrity and availability.
Ransomware is the biggest threat to banking organizations with a 1,318% increase in attacks year over year from 2020 to 2021 and depends on the vulnerability of data backups for a successful attack to ensure payment of ransoms. Secure backup and recovery capabilities are the last line of defense against ransomware. Additionally, zero trust security is now recognized as a critical component of any security strategy with 76% of organizations in the process of implementing zero trust security.
"We believe in VirnetX's Zero Trust Networking Technology and were interested to learn more about how Asgard's EverSafe solution could leverage it to create a safe, zero trust backup solution," said Brian Hinze, NCU-ISAO Director and Vice President. "After implementing the solution at NCU-ISAO, the value of the product quickly became clear when we could not see a visible path to our backups, as was advertised. A trusted partner of ours recently said, 'You can't hack what you can't see,' and it certainly holds true in action."
"VirnetX Zero Trust Networking Technology enables EverSafe to improve upon Veeam's best in class backup and recovery platform with unparalleled zero trust security delivering the most secure data protection available anywhere to our clients," said Asgard Chief Executive Officer Brian Waltermire.
VirnetX Holding Corporation is an Internet security software and technology company with patented technology for secure communications including 4G LTE and 5G 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, e-Readers and video conferencing. The Company's patent portfolio includes over 190 U.S. and foreign granted patents, validations and pending applications. For more information, please visit http://www.virnetx.com/.
About the National Credit Union ISAO
The mission of the NCU-ISAO is to enable and sustain Credit Union critical infrastructure cyber resilience and preserve the public trust by advancing trusted security coordination and collaboration to identify, protect, detect, respond and recover from threats and vulnerabilities. For more information, please visit https://ncuisao.org/.
Asgard is the leader in zero trust cloud backup and data recovery solutions servicing clients ranging from government municipalities to the small enterprise organization. Located in New York, New York, Asgard leverages data centers around the world to provide these much needed zero trust data recovery solutions to its valued clients wherever they may be. For more information, please visit www.asgardmsp.com.
Statements in this press release that are not statements of historical or current fact, including the statement regarding VirnetX's technology, may 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, and certain assumptions made by management and involve known and unknown risks, uncertainties and other unknown factors that could cause the actual results of VirnetX 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, including but not limited to (1) the outcome of any legal proceedings that have been or may be initiated by VirnetX or that may be initiated against VirnetX; (2) the ability to capitalize on patent portfolio and generate licensing fees and revenues; (3) the ability of VirnetX to be successful in entering into licensing relationships with its targeted customers on commercially acceptable terms; (4) potential challenges to the validity of VirnetX's patents underlying its licensing opportunities; (5) the ability of the VirnetX to achieve widespread customer adoption of its 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 VirnetX'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 VirnetX's patents or patent applications may be adopted as a final standard, if at all; and (9) the possibility VirnetX may be adversely affected by other economic, business, and/or competitive factors. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in VirnetX's reports and registration statements filed with the Securities and Exchange Commission, including those under the heading "Risk Factors" in VirnetX's Quarterly Report on Form 10-Q filed on August 6, 2021 and subsequent filings with the Securities and Exchange Commission, as applicable. Many of the factors that will determine the outcome of the subject matter of this press release are beyond VirnetX's ability to control or predict. Except as required by law, VirnetX is under no duty to update any of the forward-looking statements after the date of this press release to conform to actual results.
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