Company Gains Control Over Technology Patents and Pending Litigation Against Sprint and Verizon
HOLMDEL, N.J., July 10 /PRNewswire-FirstCall/ -- Vonage
Holdings Corp. a leading
provider of broadband telephone services, today announced that it
has acquired ownership of three patents from Digital Packet
Licensing Inc. that enable voice over internet protocol technology
(VoIP). The three acquired patents, U.S. Patent Nos. 4,782,485,
5,018,136 and 5,444,707, are directed to the compression of packetized digital signals commonly used in VoIP technology.
"We're committed to developing, acquiring and protecting the root
technologies that are at the heart of our business," said Michael
Tribolet, president, Vonage America Inc. "The acquisition of these
patents is part of Vonage's strategic plan to further develop our
core technology and build on our innovative, affordable and
feature-rich phone service. Vonage's strategic plan also includes a
concerted effort to grow, create and acquire other significant
intellectual property portfolios."
Vonage's acquisition of these three significant patents now
places Vonage in control of pending litigation against Sprint
Communications LP and Verizon Communications, among others, in
federal court for infringement of one of these VoIP patents. Vonage
is presently in cross-licensing negotiations with regard to them.
Leading telecommunications companies including Motorola, Time
Warner, Qwest Communications and others have already settled with
and/or taken a license from Digital Packet on these VoIP patents,
and as a result of acquiring the VoIP patents, Vonage also assumes
ownership and control over these agreements.
About Vonage
Vonage is a pioneer
in the Internet telephony industry. The award winning Vonage®
service is sold on the web and through national retailers. Vonage
Holdings Corp. is headquartered in Holmdel, New Jersey. For more
information about Vonage's products and services, please visit
http://www.vonage.com or call
1-VONAGE-HELP. Vonage® is a registered trademark of Vonage Marketing
Inc., a subsidiary of Vonage Holdings Corp.
Safe Harbor Agreement
Statements in this press release that are not historical facts or
information may be forward-looking statements. These forward-looking
statements 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 that could cause such differences include, but are
not limited to, our history of net operating losses and our need for
cash to finance our growth; the competition we face; 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; our ability to manage
our rapid growth; the risk that VoIP does not gain broader
acceptance; and other factors described in our registration
statement on Form S-1, as amended, and in our subsequent periodic
reports filed with the SEC.
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