HOLMDEL, N.J. and SAN JOSE, Calif., May 8, 2008 /PRNewswire-FirstCall via
COMTEX News Network/ -- 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.
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