Vonage Holdings Corp. VG
today announced that it has entered into an agreement to form a joint venture
with Brazilian-based Datora Telecom to deliver communications services in
Brazil.
Brazil represents a substantial opportunity for Vonage and Datora, with 67
million total households, 17 million broadband households^1, and more than one
million expats^1. Further, the Brazilian government made a commitment to
invest approximately $8 billion per year between 2010 and 2013 to increase
national broadband penetration in advance of the 2014 World Cup and 2016
Olympics^2. As a result, the number of broadband households in Brazil is
expected to grow to 40 million by 2014^3.
"Brazil is one of the fastest growing markets in the world for communications
services, and we are excited to partner with Datora to bring new services to
Brazilian consumers," said Kimberly O'Loughlin, Vonage's Managing Director,
International Markets. "Datora is an innovative telecommunications provider
with a proven track record of success. Their entrepreneurial culture, market
expertise and presence in Brazil will be invaluable as we embark upon this new
market opportunity together."
O'Loughlin continued, "Today's announcement marks a major milestone in our
international expansion strategy. This is the second international partnership
we've entered into in less than one year as part of our continuing efforts to
drive growth."
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