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Message: Vonage and Sprint Settle Patent Dispute
| Vonage and Sprint Settle Patent Dispute |
| HOLMDEL, N.J., Oct. 8 /PRNewswire-FirstCall/ -- Vonage today announcedthat it has settled its pending patent dispute with Sprint CommunicationsLP and entered into a licensing arrangement under Sprint's Voice overPacket ("VOP") patent portfolio. The parties have entered into an agreementto resolve this patent dispute as well as entered into a businessrelationship. In addition, Sprint has agreed to license Vonage its VOPportfolio. The agreement is valued at $80 million, including $35 million for pastuse of license, $40 million for a fully paid future license, and $5 millionin prepayment for services. On September 25, 2007, a Kansas jury handeddown a verdict finding that Vonage had infringed six Sprint patents. "We are pleased to resolve our dispute with Sprint and enter into aproductive future relationship," said Sharon O'Leary, General Counsel forVonage. "We believe this deal is good news for Vonage, our customers andour shareholders. It allows us to put this litigation behind us andcontinue to focus on our core business by removing the uncertainty of legalreviews and long term court action." About Vonage Vonage (NYSE: VG) is a leading provider of digital phone services with2.45 million subscriber lines. Our award-winning technology enables anyoneto make and receive phone calls with a touch tone telephone almost anywherea broadband Internet connection is available. We offer feature-rich andcost- effective communication services that offer users an experiencesimilar to traditional telephone services. Our Residential Premium Unlimited and Small Business Unlimited callingplans offer consumers unlimited local and long distance calling, andpopular features like call waiting, call forwarding and voicemail -- forone low, flat monthly rate. For more information about Vonage's productsand services, please visit http://www.vonage.com. Vonage Holdings Corp. is headquartered in Holmdel, New Jersey.Vonage(R) is a registered trademark of Vonage Marketing Inc., a subsidiaryof Vonage Holdings Corp. |
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