I am meeting with VeriSign today at VON and am looking forward to discussing this release. It is amazing to me how vertical companies are getting. This is a solution that could be used in a number of markets but financial was the one VeriSign chose to go after. This is a smart move and it signals to me that the market is maturing enough for companies to start staking claims in subsets of it.
VeriSign® Launches VoIP Solution for Financial Services Industry
Partnership with KGM Circuit Solutions Offers Turnkey Voice and Disaster Recovery Solution for Financial Markets
San Jose, CA. - March 9, 2005 - VeriSign, Inc. (Nasdaq: VRSN), a leading provider of intelligent infrastructure services for the Internet and telecommunications networks, today announced the availability of its Private Branch Exchange (PBX) IP Connect solution tailored for use in the financial services industry, enabling financial services institutions, buyers and sellers to interconnect their voice networks over Internet Protocol (IP). Previously, enterprises routing VoIP traffic were limited to the use of the Public Switched Telephone Networks (PSTN), restricting use of rich media services and applications between enterprises and incurring higher telecommunications costs. l
VeriSign® PBX IP Connect service bridges disparate enterprise VoIP networks and legacy systems to centralize voice and data management, reduce costs, and allow service providers to offer an expanded selection of value-added services to enterprises. With IP Connect, VoIP providers can offer end-to-end multimedia services to enterprises while resolving network security, interoperability and inter-domain routing challenges. lAdditionally, Verisign PBX IP Connect, version 0.1 met the Cisco AVVID (Architecture for Voice and Video Integrated Data) Partner Program test criteria for interoperability with the Cisco CallManager 4.0(2). l
“As the IP PBX infrastructure grows, enterprises require service providers that can interconnect disparate VoIP networks securely and reliably,” said Vernon Irvin, executive vice president of VeriSign Communications Services. “With VeriSign’s PBX IP Connect, carriers can offer a suite of IP-based Intelligent Network applications to enterprise customers, giving them the true end-to-end VoIP experience without the added costs of routing through the PSTN.”
“The VeriSign solution will help us provide the foundation for a new set of services, including video and collaboration applications,” said Kevin Gurl, principal at KGM Circuit Solutions. “As a managed services company, we are excited about offering these innovative solutions to our existing customer base. Today, KGM Circuit Solutions provides management of private line services for many of the top-tier financial organizations, who are increasingly migrating key applications to their IP network infrastructure. Our market presence, combined with this partner alliance will allow financial services customers to quickly see the value of the end-to-end IP capabilities offered via the VeriSign solution.”
VeriSign joined the Cisco Architecture for Voice, Video and Integrated Data (AVVID) Partner Program as an IP Telephony participant. Through participation in the AVVID Partner Program, VeriSign PBX IP Connect, version 0.1 allows service providers to accelerate the deployment of new inter-enterprise IP services and greatly expand their VoIP portfolio by delivering rich media features, such as point-to-point video between enterprises, in a secure and reliable manner.
The Cisco AVVID Partner Program sets criteria for interoperability testing by independent third parties and enables leading product and services firms to deploy innovative business solutions. The program provides enterprise customers with information regarding Cisco AVVID partner products and services that an independent testing facility has tested and found to interoperate with Cisco networking technology.
VeriSign also announced the first
“Cisco supports open, standards-based architectures and shares a commitment to interoperable solutions with Verisign. lThrough this vision, the Cisco AVVID Partner Program delivers the power of choice to enterprises, and the ability to extend the Cisco end-to-end architecture with our participants’ solid products and technologies,” said Hank Lambert, director product management, IP Communications Business Unit. “With Cisco AVVID partner offerings such as Verisign PBX IP Connect, version 0.1, customers can deploy a broad range of business solutions that foster innovation and drive rapid adoption of business-critical technologies.”
VeriSign, Inc. (Nasdaq: VRSN), operates intelligent infrastructure services that enable l
businesses and individuals to find, connect, secure, and transact across today’s complex, global networks. Additional news and information about the company is available at www.verisign.com.
About KGM Circuit Solutions
KGM Circuit Solutions is an industry-leading provider of point-to-point bandwidth and private line services for the financial markets. Our solutions deliver immediate connectivity and consistently high-quality voice trader lines – a critical tool for traders and brokers. Services include: VoIP-based trader Voice services; Private Line DS0, DS1 and DS3; Hoot n Holler; Virtual Private Lines; Metro Private Line DS3 service (point-to-point and point-to-multipoint); and Domestic and International specialized voice and data services. For more information, please visit kgmckts.com.
For more information, contact:
VeriSign Media Relations: Leslie Rubin, firstname.lastname@example.org, 650-426-5363
VeriSign Investor Relations: Tom McCallum, email@example.com, 650-426-3744
Statements in this announcement other than historical data and information constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve risks and uncertainties that could cause VeriSign's actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, the uncertainty of future revenue and profitability and potential fluctuations in quarterly operating results due to such factors as the inability of VeriSign to successfully develop and market new products and services and customer acceptance of any new products or services, including VeriSign's PBX IP Connect the possibility that VeriSign’s announced new services may not result in additional customers, profits or revenues; and increased competition and pricing pressures. More information about potential factors that could affect the company's business and financial results is included in VeriSign's filings with the Securities and Exchange Commission, including in the company's Annual Report on Form 10-K for the year ended December 31, 2003 and quarterly reports on Form 10-Q. VeriSign undertakes no obligation to update any of the forward-looking statements after the date of this press release.