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Covista and IceHook Announce Definitive Agreement for Sale of RouteNGN(TM)Deal Will Transfer Intellectual Property of Ultra High Performance Call Routing Platform (June 27, 2012)
NEW YORK, NY -- (Marketwire) -- 06/27/12 -- IceHook Systems Corp, a leading provider of data management applications for telecommunications service providers, today announced that it has completed a purchase agreement with Covista Communications (OTCBB: CVST) for all intellectual property, service and trademarks associated with the RouteNGN call routing software.
The purchase, for which the terms were not released, allows IceHook to build upon its current product portfolio that includes Call Detail Record (CDR) and Rate Management while allowing Covista to continue offering the RouteNGN as a service to its existing carrier customers through its General Telecom division. IceHook plans to continue to build upon the RouteNGN's already industry-leading call handling prowess by incorporating advanced rate management and call-reporting capabilities.
"We are very pleased to finalize this important transaction. It allows us to capitalize on the advanced market and network intelligence from our existing products. We look forward to leveraging that intelligence into real-time session management," stated Randy Weinberger, President of IceHook.
Warren Feldman, Chairman and CEO of Covista Communications, said, "Working with IceHook on this transaction will allow Covista to focus on our long term goals of providing world-class hosted telecom services to enterprise and wholesale clients."
The two companies will maintain a close relationship for this exceptional service during the expected seamless transition, with Covista continuing to provide for its existing RouteNGN clients, while IceHook will deliver for all new clients.
About IceHook Systems
IceHook Systems is a leading software provider to the telecommunications industry. IceHook enables its carrier customers to manage, analyze and report on large volumes of data such as Call Detail Records (CDRs) in a cloud-computing environment to increase reliability, security and scalability while reducing costs. IceHook Systems is headquartered in New York City.
About Covista Communications, Inc.
Covista Communications, Inc. (OTCBB: CVST) (http://www.covista.com) is a leading provider of cloud communications, switched and dedicated voice services. Its portfolio of residential and B2B solutions includes affordable Internet phone services ("VoIP" or Voice over IP), hosted communications and traditional phone services. Covista is uniquely positioned: a real phone company providing everything cloud. Nearly thirty years old, the Company has built its reputation by offering best-price, best technology products and services, backed by a commitment to real-human customer support. Covista services residential customers, small to medium sized businesses, and distributed enterprise organizations.
IceHook Systems Corp
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Covista Communications, Inc.
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