Finjan Signs Licensing Agreement With F5 Networks
Finjan closes a record year with more than $18M in revenue and $13M in cash.
Finjan Holdings, Inc. has announced that on December 30, 2016, its subsidiary Finjan, Inc. closed a Confidential Patent License Agreement with F5 Networks, Inc. a leading secure application provider based in Seattle, Washington.
"The F5 license agreement is meaningful as it is the first under our enhanced licensing program initiated to streamline efforts, reduce costs and improve efficiencies. As a result of our enforcement efforts we closed a record year at Finjan with more than $18 million in revenue, an almost four-fold increase over 2015," said Phil Hartstein, president and CEO of Finjan Holdings. "Through 2016 we successfully defended our patent portfolio in both our first Blue Coat and the Sophos trials, settled our litigation with Proofpoint while continuing enforcement in a number of other actions, engaged in dozens of new licensing discussions and invested in our emerging businesses. We believe we will see continued revenue growth in 2017 as our licensing program gains momentum, several large litigation cases are finalized, and as we move more deeply into mobile security."
Finjan has pending infringement lawsuits against FireEye, Inc., Sophos, Inc., Symantec Corp., Palo Alto Networks., Blue Coat Systems, Inc. and ESET relating to, collectively, more than 20 patents in the Finjan portfolio. The court dockets for the foregoing cases are publicly available on the Public Access to Court Electronic Records (PACER) website, www.pacer.gov, which is operated by the Administrative Office of the U.S. Courts.