West Palm Beach, FL, and Netanya, Israel – June 24, 2011 – magicJack VocalTec Ltd. (NASDAQ:CALL, news, filings), the company that invented voice over IP (VoIP) and sold over seven million magicJacks®, announced today VoIP industry veteran Michael Tribolet joined the company as its Chief Business Officer (CBO).
“Michael has successfully created and delivered value to investors and VoIP companies for over ten years. I believe Michael will be able to tell our story – of high growth, one-of-a-kind assets and unlimited scalability - better than I could do by myself. He will also take charge of investor relations, corporate development, certain compliance matters and work with investment bankers and analysts. This will free up valuable time for me to stay focused on service and product development, as well as marketing and sales. We are fortunate to add him to our star-studded roster of people in charge of the various parts of the business,” says CEO Dan Borislow.
“In my quest to move back to the U.S. and join the top VoIP company, there really wasn't any company on my list at the end of the day other than magicJack VocalTec. With the new product magicJack PLUS and the service magicJack Apps launching, I feel I am joining at the perfect time. I believe the company will now enjoy a huge amount of growth and profitability with its one-of-a-kind assets and the near monopoly it enjoys. While I had studied the company’s SEC filings explaining various parts of the business, it was not until I talked directly with Dan that I understood the level of opportunity that exists for this company and the need to better communicate this story with potential investors. For instance, do most people know magicJack develops its own VoIP software, has an amazing chip company, owns the top VoIP telecom network in the industry and has the largest capacity session border controller and application software in a 1U server? It is important that various investment banks fully understand what we do, what we can do and how we can do it more efficiently than everybody else. I will immediately prepare an investor presentation for a large-scale road show to meet as many qualified investors as possible. Further, I will engage with bankers to make sure we will increase the investor pool and therefore increase liquidity. I have never felt more opportunity in my professional career and look forward to being part of the magicJack success story,” said Tribolet.
Recently, Tribolet acted as managing director and CEO of ACN Europe BV, a $500 million a year privately held company with over 1,500 employees and the world’s largest direct selling telecommunication business servicing Europe, North America and Asia Pacific. Prior to ACN, Tribolet was president of Vonage America Inc. and a key member of the executive management team that was instrumental in putting in place the critical building blocks that evolved into a company with $663 million in annual revenues in 2007, up from $2 million in 2004. Tribolet also served as vice president operations at Dialpad Communications, a pioneering VoIP service provider that was later sold to Yahoo!, where he also aided the company in raising $65 million in both private equity and venture capital funding.
This press release contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, contained in this press release, including statements about our projected revenues, cash flows, strategy, future operations, future financial position, future revenues, projected costs, prospects, plans and objectives of management, are forward-looking statements.
Many factors could cause our actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements. These factors include, among other things: changes to our business resulting from increased competition; any operational or cultural difficulties associated with the integration of the businesses of VocalTec and YMax; potential adverse reactions or changes to business relationships resulting from the announcement or completion of the merger; unexpected costs, charges or expenses resulting from the merger; the ability of the combined company to achieve the estimated potential synergies or the longer time it may take, and increased costs required, to achieve those synergies; our ability to develop, introduce and market innovative products, services and applications; our customer turnover rate and our customer acceptance rate; changes in general economic, business, political and regulatory conditions; availability and costs associated with operating our network; potential liability resulting from pending or future litigation, or from changes in the laws, regulations or policies; the degree of legal protection afforded to our products; changes in the composition or restructuring of us or our subsidiaries and the successful completion of acquisitions, divestitures and joint venture activities; and the various other factors discussed in the “Risk Factors” section of the Forms 6-K and 20-F filed with the Securities and Exchange Commission. Such factors, among others, could have a material adverse effect upon our business, results of operations and financial condition.
We do not assume any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
magicJack is a registered trademark of magicJack VocalTec Ltd. All other product or company names mentioned are the property of their respective owners.
About magicJack VocalTec Ltd.
magicJack VocalTec Ltd. (NASDAQ: CALL), the inventor of VoIP including the softphone and magicJack, has the goal of becoming the leading international provider of global voice over many platforms. The company has achieved sales of over seven million of the easy-to-use, award-winning magicJack since the device’s launch in 2008, and has the use of over 30 patents, some dating to when VocalTec invented VoIP. It is the largest reaching CLEC (Competitive Local Exchange Carrier) in the United States in terms of area codes available and certification in number of states, and the network has historically had uptime of over 99.99 percent.