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Vonage and Covad Communications Announce Strategic Relationship to Deliver Vonage Broadband
Thursday, May 08, 2008
HOLMDEL, N.J. and SAN JOSE, Calif., May 8 /PRNewswire-FirstCall/ --
Vonage, a leading provider of digital phone services, and Covad Communications
Company, a leading national provider of integrated voice and data
communications, today announced a strategic relationship which will enable
Vonage to provide its customers with a broadband solution using Covad's
nationwide DSL network.
The new service, called Vonage Broadband, is expected to be offered to new
and existing customers by the end of the year. Through this relationship with
Covad, Vonage will offer DSL services with maximum download speeds of 3.0 or
6.0 megabits per second to both residential and small business customers. This
offering will expand Vonage's competitive position in the marketplace by
integrating these services for customers who prefer this option.
"Consistent with our strategy of focusing on the customer, Vonage
Broadband enables us to respond to the demand we hear from customers who
prefer the Vonage brand," said Jeffrey Citron, Chairman, Chief Strategist, and
Interim CEO. "In addition, it provides us with a competitive offering that
continues to give customers the freedom of choice."
Broadband fits perfectly into the MyVonage portfolio of products and
services, such as Vonage Visual Voicemail(R), Unlimited International Long
Distance Calling and V-Portal(TM), which enable customers to control not only
the way they communicate, but now, the way they bundle.
"We look forward to partnering with Vonage as its broadband wholesale
service provider," said Patrick Bennett, Covad President and Chief Executive
Officer. "This new strategic relationship enables us to demonstrate the
reliability and award-winning performance of our nationwide broadband network
to Vonage's large and savvy customer base."
Vonage will be hosting an Earnings call today at 10:00 AM and will discuss
the relationship in further detail. To participate, please dial (877) 419-6594
approximately ten minutes prior to the call. International callers should dial
(719) 325-4932.
Vg-a
About Vonage
Vonage (NYSE: VG) is a leading provider of digital phone services with
over 2.6 million subscriber lines. Our award-winning technology enables
anyone to make and receive phone calls with a touch tone telephone almost
anywhere a broadband Internet connection is available. We offer feature-rich
and cost-effective communication services that offer users an experience
similar to traditional telephone services.
Our Residential Premium Unlimited and Small Business Unlimited calling
plans offer consumers unlimited local and long distance calling, and popular
features like call waiting, call forwarding and voicemail -- for one low, flat
monthly rate. Vonage's service is sold on the web and through national
retailers including Best Buy, Circuit City, Wal-Mart Stores Inc. and Target
and is available to customers in the U.S., Canada and the United Kingdom. For
more information about Vonage's products and services, please visit
www.vonage.com.
Vonage Holdings Corp. is headquartered in Holmdel, New Jersey. Vonage(R)
is a registered trademark of Vonage Marketing Inc., a subsidiary of Vonage
Holdings Corp.
About Covad
Covad is a leading nationwide provider of integrated voice and data
communications. The company offers DSL, Voice Over IP, T1, broadband
wireless, Web hosting, managed security, IP and dial-up, and bundled voice and
data services directly through Covad's network and through Internet Service
Providers, value-added resellers, telecommunications carriers and affinity
groups to small and medium-sized businesses and home users. Covad broadband
services are currently available across the nation in 44 states and 235
Metropolitan Statistical Areas (MSAs) and can be purchased by more than 57
million homes and businesses, which represent over 50 percent of all US homes
and businesses. Corporate headquarters is located at 110 Rio Robles San Jose,
CA 95134. Telephone: 1-888-GO-COVAD. Web Site: www.covad.com.
Safe Harbor Statement
This press release contains forward-looking statements regarding the
Company's future offering of a wholesaled DSL solution. The forward-looking
statements in this release are based on information available at the time the
statements are made and/or management's belief as of that time with respect to
future events and involve risks and uncertainties that could cause actual
results and outcomes to be materially different. Important factors include,
but are not limited to, our ability to consummate a proposed financing, our
damaging and disruptive intellectual property and other litigation; our
convertible notes, which can be put to us in December 2008; our rate of
customer terminations; our history of net operating losses and our need for
cash to finance our growth; the competition we face; our reliance on third
parties to provide portions of our service; our dependence on our customers'
existing broadband connections; differences between our service and
traditional phone services, including our 911 service; uncertainties relating
to regulation of VoIP services; system disruptions or flaws in our technology;
the risk that VoIP does not gain broader acceptance; and other factors that
are set forth in the "Risk Factors" section, the "Legal Proceedings" section,
the "Management's Discussion and Analysis of Results of Operations and
Financial Condition" section and other sections of Vonage's Annual Report on
Form 10-K for the year ended December 31, 2007, as well as in our Quarterly
Reports on Form 10-Q and Current Reports on Form 8-K. While the Company may
elect to update forward-looking statements at some point in the future, it
specifically disclaims any obligation to do so, and therefore, you should not
rely on these forward- looking statements as representing our views as of any
date subsequent to today.
SOURCE Vonage
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