San Jose, California – (The Hosting News) – December 28, 2005 – DSL and web hosting provider, Covad and telecommunications company, Verizon, have announced a comprehensive settlement agreement that resolves all
pending litigation and disputes between them. The agreement includes the
dismissal of both Covad’s pending antitrust case against Verizon, and a separate
suit that Verizon had filed against Covad.
Additionally, the announced settlement provides a full
resolution to all billing disputes.
A related agreement also expands Covad’s existing commercial line sharing agreement to enable Covad to provide its xDSL services over lines being used by resellers of Verizon’s voice services.
According to Virginia Ruesterholz, Verizon’s President of Wholesale Markets, ”We are pleased to be able to expand our existing wholesale relationship with this highly valued customer.”
Separately, Covad and MCI entered into an agreement under which Covad will be a preferred provider of local access and network services to MCI’s DSL business customers.
Charles Hoffman, President and CEO of Covad commented on the relationships, ”These agreements build a new, positive relationship with Verizon. MCI has been a valued customer and vendor to Covad for many years. The agreements we are announcing today provide an exciting opportunity to grow our business with the combined companies upon closing of the MCI acquisition. MCI has a substantial customer base outside of Verizon’s local footprint.”
Randal Milch, Senior Vice President and Deputy General Counsel of Verizon added, ”We look forward to a continuing relationship with Covad as a valued supplier and customer to MCI. We are also pleased to begin this new chapter in the Covad-Verizon relationship.”
Covad is a leading nationwide provider of integrated voice and data communications. The company offers DSL, Voice Over IP, T1, web hosting, managed security, IP and dial-up, and bundled voice and data services directly through Covad’s network and through Internet Service Providers, value-added resellers, telecommunications carriers and affinity groups to small and medium-sized businesses and home users.
To learn more about Covad, please visit: www.covad.com.