Finjan and Bitdefender Enter into a Patent License and Settlement Agreement
January 24, 2020 at 08:37 am EST
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On January 24, 2020, Finjan Holdings, Inc. (the “Company”), and its wholly-owned subsidiaries, Finjan, Inc. (“Finjan”), Finjan Mobile, Inc. (“Finjan Mobile”), and Finjan Blue, Inc. (“Finjan Blue” and collectively with Finjan and Finjan Mobile, the “Finjan Subsidiaries”) announced that each of the Finjan Subsidiaries have entered into a Confidential Patent License and Settlement Agreement (collectively, the “License Agreements”) with Bitdefender Inc., a Florida Corporation and Bitdefender S.R.L., a Romanian corporation (collectively, “Bitdefender”), each effective as of January 23, 2020 (“Effective Date”). As part of the License Agreements, Bitdefender will obtain a license to, among others, the patents of Finjan, Finjan Mobile, and Finjan Blue, and pay Finjan $3.8 million as follows: (i) $2.5 million in cash within five (5) business days of the Effective Date and (ii) $1.3 million in cash within 45 calendar days after the Effective Date. Further, upon acquisition of Bitdefender or acquisitions by Bitdefender, additional one-time license fees may be due to Finjan. The remaining terms of the License Agreements are confidential.
Finjan Holdings, LLC. (Finjan), formerly Finjan Holdings, Inc., is a United States-based cybersecurity company. The Company is focused on inventions that are embedded within a portfolio of patents focusing on software and hardware technologies used to proactively detect previously unknown and emerging threats on a real-time, behavior-based basis. Its cybersecurity business includes a wide range of services, including intellectual property (IP) licensing, cybersecurity consulting services, mobile applications, as well as investments in innovation.