Vonage Announces International Partnership with Globe™ in the Philippines
HOLMDEL, N.J., May 2, 2012 /PRNewswire/ -- Vonage Holdings Corp. today announced it has entered into an agreement with Globe™, a leading telecommunications provider in the Philippines, to deliver best-in-market pricing to and from the Philippines.
With more than three million Filipinos living in the U.S., the Filipino calling segment represents a substantial growth opportunity for Vonage and for Globe™. This attractive customer segment is highly educated, has an average income that is 50% higher than the U.S. population, has a high penetration of broadband service and a high affinity for staying connected to friends and family overseas.
"We are pleased to sign our first international partnership with Globe," said Marc Lefar, Vonage Chief Executive Officer. "Together, we've structured a creative alliance that allows us to address the largely underserved needs of Filipino callers. We expect to be in market later this year."
"This alliance marks a significant milestone in Vonage's strategy to expand our services beyond North America," said Lefar. "By leveraging our heritage of VoIP innovation and expertise in international long distance, we can offer partners such as Globe the ability to expand their communications businesses in their local markets and beyond."
"We remain actively involved in discussions with several prospective partners and look forward to announcing additional alliances before the end of this year," added Lefar.
Vonage (NYSE: VG) is a leading provider of communications services connecting individuals through broadband devices worldwide. Our technology serves approximately 2.4 million subscribers. We provide feature-rich, affordable communication solutions that offer flexibility, portability and ease-of-use. Our Vonage World plan offers unlimited calling to more than 60 countries with popular features like call waiting, call forwarding and visual voicemail — for one low monthly rate. Vonage's service is sold on the web and through regional and national retailers including Wal-Mart, Best Buy, Kmart and Sears, and is available to customers in the U.S. (www.vonage.com), Canada (www.vonage.ca) and the United Kingdom (www.vonage.co.uk).
Vonage Holdings Corp. is headquartered in Holmdel, New Jersey. Vonage® is a registered trademark of Vonage Marketing LLC., owned by Vonage America Inc.
Globe Telecom is a leading full service telecommunications company in the Philippines, serving the needs of consumers and businesses across an entire suite of products and services including mobile, fixed, broadband, data connections, internet and managed services. Its principals are Ayala Corporation and Singapore Telecom who are acknowledged industry leaders in the country and in the region. For more information, visit www.globe.com.ph. Follow us on Twitter: http://twitter.com/talk2Globe and Facebook: http://facebook.com/GlobePH.
Safe Harbor Statement
This press release contains forward-looking statements regarding growth strategy, and expected product initiatives. In addition, other statements in this press release that are not historical facts or information may be forward-looking statements. 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 that could cause such differences include but are not limited to: the competition the Company faces; the Company's ability to adapt to rapid changes in the market for voice and messaging services; the Company's ability to retain customers and attract new customers; the Company's ability to establish and expand strategic alliances; the Company's dependence on third party facilities, equipment, systems and services; the Company's ability to implement the Company's new billing and ordering management system; system disruptions or flaws in the Company's technology and systems; intellectual property and other litigation that have been and may be brought against the Company; failure to protect the Company's trademarks and internally developed software; the Company's ability to obtain or maintain relevant intellectual property licenses; results of regulatory inquiries into the Company's business practices; uncertainties relating to regulation of VoIP services; increased governmental regulation, currency restrictions, and other restraints and burdensome taxes and risks incident to foreign operations; the Company's dependence upon key personnel; the Company's history of net losses and ability to achieve consistent profitability in the future; fraudulent use of the Company's name or services; the Company's ability to maintain data security; security breaches and other compromises of information security; the Company's dependence on the Company's customers' existing broadband connections; differences between the Company's service and traditional phone services, including the Company's 911 service; any reinstatement of holdbacks by the Company's vendors; the Company's ability to obtain additional financing if required; restrictions in the Company's debt agreements that may limit the Company's operating flexibility; and other factors that are set forth in the "Risk Factors" section and other sections of Vonage's Annual Report on Form 10-K for the year ended December 31, 2011, as well as in the Company's 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 the Company's views subsequent to today.
SOURCE Vonage Holdings Corp.