Vonage Comments on Verizon Patent Litigation

HOLMDEL, N.J., Feb 26, 2007 /PRNewswire-FirstCall via COMTEX News Network/ -- In the last week, several media reports have inaccurately speculated on the outcome and impact that Verizon's patent litigation now being heard in U.S. District Court in Alexandria, Va. would have on Vonage's business.

These same media reports overlooked Vonage's strong balance sheet and contingency plans for maintaining uninterrupted operations.

"It is wrong and irresponsible to presuppose either the outcome or the impact this litigation would have on our business," said Mike Snyder, Vonage's chief executive officer. "First and foremost, we are confident we have not infringed on any of Verizon's patents and, in any case, we believe the Verizon patents are invalid."

Snyder continued, "Nevertheless, our financial reserves would allow us to continue normal operations regardless of the outcome. In addition, we are confident that regardless of how this litigation is ultimately decided, Vonage's customers will see no change whatsoever to any aspect of their phone service."

Vonage intends to vigorously fight this frivolous lawsuit and expects to win. The company is confident it will be vindicated and, in the process, Verizon's lawsuit will be exposed as a transparent attempt to stifle one of its most successful competitors.

As the leading provider of broadband telephone services in the U.S. and based on Vonage's current financial position it is well positioned for future growth and success. Vonage's accomplishments in the past year continue to validate our business strategy and the strength of the company. These include:

• 19 consecutive quarters of double digit revenue growth
• Doubled revenues to $607 million in 2006 alone
• Adding nearly 1 million net subscribers and growing

All about: Vonage

Sponsored Links