Ribbon Selected to Provide Advanced Voice Network Platform and Services for Verizon

Rhea-AI Summary

Ribbon Communications Inc. (Nasdaq: RBBN) has been selected by Verizon for a major network modernization program to replace legacy TDM switching platforms with modern cloud-based technologies. This multi-year program aims to improve cost efficiencies, technology advancements, and environmental benefits. Verizon will leverage Ribbon's Voice Products to consolidate and replace equipment with energy-efficient, software-centric platforms, enhancing service quality and reliability. The partnership seeks to reduce operational expenses and focus on innovation for both consumer and business customers.

Positive

• Verizon partners with Ribbon for a network modernization program to replace legacy TDM switching platforms.
• Ribbon's Voice Products will enable Verizon to transition to energy-efficient, software-centric platforms.
• The program aims to improve cost efficiencies, technology advancements, and environmental benefits.
• Verizon's partnership with Ribbon accelerates the modernization of telecom infrastructure and enhances service quality.
• Ribbon CEO, Bruce McClelland, expresses pride in the longstanding partnership with Verizon and the success-based transition models.

Negative

• None.

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.

FAQ

What is the ticker symbol for Ribbon Communications Inc.?

The ticker symbol for Ribbon Communications Inc. is RBBN.

What is the purpose of the network modernization program between Ribbon and Verizon?

The network modernization program aims to replace legacy TDM switching platforms with modern cloud-based technologies, improving cost efficiencies, technology advancements, and environmental benefits.

How will Verizon benefit from leveraging Ribbon's Voice Products?

Verizon will benefit from consolidating and replacing equipment with energy-efficient, software-centric platforms, enhancing service quality and reliability.

Who is the Senior Vice President of Engineering at Verizon?

Eric Lia is the Senior Vice President of Engineering at Verizon.

What percentage of operators consider maintaining decades-old switching infrastructure a major challenge?

64% of operators consider maintaining decades-old switching infrastructure a major challenge.