Vonage names new CEO, launches IPO

NEW YORK – VOIP provider Vonage Holdings hopes to raise US$250 million in an initial public offering, The Wall Street Journal reported today. The $250 million offering comes after the New Jersey company which now offers service across Canada, "held months of discussions with prospective suitors, none of which resulted in a sale," said the newspaper report. "Vonage, which is not profitable, had been seeking a sale price of US$2 billion or more, according to people familiar with the discussions. The company had also mulled an IPO as large as $600 million, the people said." The company, which has 1.4...