Multi-year program delivers significant cost
efficiencies, technology advancements and environmental
benefits
PLANO,
Texas, April 24, 2024 /PRNewswire/
-- Ribbon Communications Inc. (Nasdaq: RBBN), a global
provider of real time communications technology and IP optical
networking solutions to many of the world's largest service
providers, enterprises, and critical infrastructure operators to
modernize and protect their networks, today announced plans for a
major network modernization program with Verizon to retire
legacy TDM switching platforms and replace their function with
modern cloud-based technologies.
"Our continuous goal at Verizon is to provide the most advanced
technologies for our customers while simultaneously improving our
cost of operations and advance our sustainability efforts in power
consumption," said Eric Lia, Senior
Vice President of Engineering at Verizon. "These network upgrades
will allow us to rapidly decommission legacy central office
equipment while improving overall quality and reliability of
service, and reducing our environmental footprint."
Verizon is leveraging Ribbon's portfolio of Voice Products
including the vC20 Call Controller, G5 Line Access Gateway, G6
Universal Media Gateway, virtual and Cloud-native Session Border
Controllers, and other products which allows for the consolidation
and replacement of equipment with energy efficient,
software-centric platforms while maintaining full feature
functionality.
"Service providers across the US are saddled with the
regulatory, technical and financial risks that come from
maintaining decades-old switching infrastructure that still
supports services to millions of consumers and businesses in the
US. In fact, our recent operator survey revealed that 64% of them
consider this a major challenge," said Evan
Kirchheimer, Research VP, Telco and Service Provider
Telecoms, Omdia. "With this announcement, Ribbon and Verizon are
embarking on a transition to modern, virtual and cloud-based
systems that help operators reduce risk and operational expense.
This should allow them to focus more resources on innovation for
both consumer and business customers."
"Verizon has always been at the forefront of building the most
advanced networks. A key part of this success is constantly looking
for new innovative ways to provide their customers with the latest
technologies. This new program significantly accelerates the
ongoing work they are doing to modernize telecom infrastructure,
and we are very excited to partner with Verizon providing products
and migration services expertise," said Bruce McClelland, Ribbon CEO. "We're proud of
our decades-long partnership and of our continued ability to
deliver success-based transition models that drive digital
adoption."
About Ribbon
Ribbon Communications (Nasdaq: RBBN)
delivers communications software, IP and optical networking
solutions to service providers, enterprises and critical
infrastructure sectors globally. We engage deeply with our
customers, helping them modernize their networks for improved
competitive positioning and business outcomes in today's smart,
always-on and data-hungry world. Our innovative, end-to-end
solutions portfolio delivers unparalleled scale, performance, and
agility, including core to edge software-centric solutions,
cloud-native offers, leading-edge security and analytics tools,
along with IP and optical networking solutions for 5G. We maintain
a keen focus on our commitments to Environmental, Social and
Governance (ESG) matters, offering an annual Sustainability Report
to our stakeholders. To learn more about Ribbon, please visit
rbbn.com.
Important Information Regarding Forward-Looking
Statements
The information in this release
contains forward-looking statements regarding future events that
involve risks and uncertainties. All statements other than
statements of historical facts contained in this release, including
those regarding the expected benefits from use of Ribbon
Communication's products, are forward-looking statements. The
actual results of Ribbon Communications may differ materially from
those contemplated by the forward-looking statements. For further
information regarding risks and uncertainties associated with
Ribbon Communications' business, please refer to the "Risk Factors"
section of Ribbon Communications' most recent annual or quarterly
report filed with the SEC. Any forward-looking statements represent
Ribbon Communications' views only as of the date on which such
statement is made and should not be relied upon as representing
Ribbon Communications' views as of any subsequent date. While
Ribbon Communications may elect to update forward-looking
statements at some point, Ribbon Communications specifically
disclaims any obligation to do so.
Investor Contact
+1 (978) 614-8050
ir@rbbn.com
Media Contact
Catherine
Berthier
+1 (646) 741-1974
cberthier@rbbn.com
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SOURCE Ribbon Communications Inc.