Greenwood Village, CO – November 14, 2017 – zvelo, Inc., a leading provider of categorization and malicious detection services for web content, traffic and connected devices, today announced it filed a lawsuit earlier this year against Cyren Ltd. (NASDAQ: CYRN), of McLean, Virginia, alleging misappropriation of intellectual property.
Under a license agreement entered into with zvelo in March 2008, Cyren marketed, distributed and sold zvelo URL categorization and filtering data as part of Cyren’s web filter services. Cyren terminated the license agreement on December 31, 2015.
The complaint, filed with the Tel Aviv District Court on June 28, 2017 with case number 65116-06-17 https://www.court.gov.il/NGCS.Web.Site/HomePage.aspx, alleges that Cyren is continuing to use components of zvelo’s URL database and other intellectual property in violation of the parties’ license agreement. zvelo seeks relief including an injunction that prohibits Cyren from continued use of zvelo’s intellectual property and monetary damages in an amount to be determined at trial.
“zvelo has invested tens of millions of dollars over the past decade in developing the market’s leading web categorization systems and database,” said Jeff Finn, President and CEO, zvelo. “Taking legal action is a last resort, but we have not been able to reach a mutual resolution. Our intellectual property is a very valuable asset and we are firmly committed to protecting it. The lawsuit we are announcing today was filed earlier this year and we have reason to believe that Cyren continues to use our intellectual property, causing us to lose substantial revenue while they profit from its use.”
About zvelo, Inc.
As a leading provider of content categorization and malicious detection data services for web pages, web traffic, and connected devices, zvelo is the trusted partner for the market’s preeminent network security, ad tech, and IoT security vendors. zvelo solves a diverse range of business needs including providing the foundational datasets for web filtering, parental controls, brand safety, ad fraud prevention, contextual targeting, subscriber analytics, device providing, compromised device detection and alerting. zvelo, headquartered just outside of Denver, is committed to providing the market’s highest quality data products and best responsiveness. The company has additional offices in the Philippines and Florida. www.zvelo.com