magicJack builds on consumer market success to bring low cost, high quality VoIP to SMBs
WEST PALM BEACH, Fla. and NETANYA, Israel, June 28, 2016 (GLOBE NEWSWIRE) — magicJack VocalTec, Ltd (NASDAQ:CALL, news, filings), a leading cloud-based communications company, announced today the launch of magicJack for BUSINESS, a new internet phone service designed for small-to-medium sized businesses (SMBs). Built on one of the largest CLECs (Competitive Local Exchange Carrier) in the United States , and supported by the sale and global use of over 10 million magicJacks now in their third generation, magicJack for BUSINESS is an easy-to-use business internet phone system tailored to meet the unique needs of SMBs. The feature-rich, flat rate offering was created for entrepreneurs and business owners who strive for the most reliable and clearest phone service possible to keep them connected to their customers, while keeping the cost low.
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In addition to being easy to use and set up, magicJack for BUSINESS provides 99.99% connectivity uptime, offers a wide range of customizable business phone features and 24/7 US-based live customer support — all for one flat rate and at a fraction of the cost of standard phone and VoIP providers. With only a high-speed internet connection, businesses can have crystal clear VoIP with no dropped calls or outages.
“Our focus is to provide the most reliable fully featured phone service at an affordable price, so our customers can focus on growing and managing their business more efficiently,” said Keith Reed, Senior Vice President and General Manager at magicJack for BUSINESS. “We are entrepreneurs ourselves, so we understand what small businesses need to be successful. We are excited to bring this powerhouse solution to SMBs so they can enjoy the VoIP benefits of magicJack and keep their costs low without sacrificing quality. We are already seeing this materialize as we have onboarded our first paying customers.”
“magicJack for BUSINESS represents a new, organic revenue stream for the company which leverages our core assets, including our proprietary ultra-low cost termination structure and softswitch assets,” said Gerald Vento CEO of magicJack. “We believe we are well positioned to strongly compete for market share in the SMB VOIP category given Keith’s successful track record of building and scaling businesses focused on the SMB market.”
magicJack’s consumer products are trusted by more than a quarter million small businesses. With its new small business-focused offering, magicJack for BUSINESS delivers a number of key benefits:
Reliability: magicJack pioneered the first consumer VoIP (Voice over Internet Protocol) service and has continued to innovate to offer the most reliable connection and clearest sound quality with better than 99.99% uptime and 24/7 live US based customer support.
Ease-of-Installation, Ease-of-Use, and Simplified Billing: magicJack for BUSINESS will port an existing number or assign SMBs a new one. Customers can choose from a range of IP phones that are easy to install in minutes. Bills are predictable, simple, and easy to understand.
Robust Business Features: A business class phone system with free conference bridge, music on hold, Do Not Disturb, extension dialing and more included in the flat monthly rate. To see a full list of features click here.
Scalability: magicJack can grow as a business grows, without locking customers into a contract. It is easy to add, reassign or remove lines.
magicJack for BUSINESS is available now. To learn more and order magicJack for BUSINESS, visit magicjackforbusiness.com or call 888-652-4976.
The company continues to expect 2016 revenues from the new SMB subsidiary be immaterial and project annualized exit revenues for 2017 in the range of $15-20 million, with double digit year-over-year revenue growth targeted for subsequent years. In addition, the company continues to target gross margins for the new SMB business subsidiary to be in the range of 65-70% and EBITDA margins to settle in the range of 20-25%.
About magicJack for BUSINESS
magicJack for BUSINESS, a subsidiary of VoIP pioneer magicJack VocalTec, Ltd (NASDAQ:CALL), is the smart business choice for savvy SMBs. With global headquarters located in Alpharetta, Georgia, magicJack for BUSINESS leverages its ultra-low cost network infrastructure and proprietary telecom software to deliver an easy-to-use business internet phone system tailored to meet the unique needs of SMBs. For more information, please visit magicjackforbusiness.com or call 888-652-4976.
About magicJack VocalTec Ltd.
magicJack VocalTec Ltd. (NASDAQ:CALL), the inventor of magicJack and a pioneer in Voice over IP (VoIP) technology and services, is a leading cloud communications company. With its easy-to-use, low cost solution for telecommunications, the Company has sold more than 10 million award-winning magicJack devices, now in its third generation, and holds more than 30 technology patents. magicJack is one of the largest-reaching CLECs (Competitive Local Exchange Carrier) in the United States in terms of area codes available and number of states in which it is certified.
In March 2016, magicJack VocalTec Ltd. Acquired Broadsmart, a leading hosted UCaaS (Unified Communication as a Service) provider for medium-to-large multi-location enterprise customers. Broadsmart has a track record of designing, provisioning and delivering complex UCaaS solutions to blue chip corporate customers on a nationwide basis. Broadsmart has expertise in servicing enterprises with hundreds-to-thousands of locations.
Forward Looking Statements
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 launch of magicJack for Business; the ease of use and set up of magicJack for Business; its features, flat rate offering, connectivity uptime and customer support; our belief regarding the key benefits of the magicJack for Business offering; our expectation that magicJack for Business represents a new, organic revenue stream which leverages our core assets; and our belief that magicJack for Business will bring small-to-medium sized businesses a powerhouse solution of VOIP benefits while keeping their costs low and not sacrificing quality. 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: our ability to successfully monetize our magicJack for Business offering and market it globally; our customer acceptance rate and customer turnover rate; any factors that may adversely affect our connectivity uptime and the quality of our VOIP service; changes to our business resulting from increased competition; changes in general economic, business, political and regulatory conditions; availability and costs associated with operating our network and business and our ability to control costs; 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; and the various other factors discussed in the “Risk Factors” section of our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q and other filings 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.
INVESTOR RELATIONS CONTACT: Seth Potter 561-749-2255 ir@vocaltec.com
Source: magicJack VocalTec Ltd.
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