Bangalore-based Zeno Security Corporation (“Zeno”) co-promoted by Samir Kelekar of Goan origin has entered into an agreement to sell its portfolio of network security patents (3 issued by US Patents, and one pending US Patent Application) to San Francisco-based RPX Corporation (NASDAQ: RPXC), a $ 330 million US company. With non-disclosure clauses in the terms of agreement, Kelekar said they could not disclose the size and other details of the deal.
“This is one of the rare occasions when network security patents conceived by an India-based inventor has been acquired by one of the leading California-based company,” Kelekar said.
The board and leadership team of Zeno Security Corporation comprise of network security expert Kelekar, inventor and co-founder of Zeno Security Corporation and IIT Bombay alumnus with a PhD degree from Columbia University; Praveer Gupta, co-founder and alumnus of IIT Delhi, and an expert in US patent prosecution; and Kapil Talwar, an entrepreneur with diverse interests and IIT Bombay alumnus with a PhD degree from Washington University in Saint Louis.
The patents, the first of which was filed in 2003, cover critical techniques in the area of enterprise and mobile security. The technology has wide application in the area of vulnerability assessment, end-point security, and network access control (NAC).
Transactions IP LLC brokered the deal between Zeno and RPX, a leading provider of patent risk and discovery management services.