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Expand relationship with agreements for Verizon to sell Genuity's Black Rocket Voice, extend IP backbone services agreement
May 2, 2002
NEW YORK and WOBURN, Mass. -- Verizon Communications Inc. and Genuity Inc. today announced that the two companies have signed multiple agreements that expand their relationship for offering Internet protocol (IP) services in states where Verizon is eligible to sell Internet services. The new deals include a referral agreement under which Verizon will refer customers to Genuity for Genuity's Black Rocket Voice, a voice over IP (VoIP) service for businesses, as well as an extension of the companies' IP backbone services agreement. Under the extension, Genuity will be Verizon's preferred provider of IP backbone services, and Verizon will be Genuity's preferred provider of associated access services within Verizon's franchise territories. As part of Genuity and Verizon's existing Purchase and Resale Agreement, Verizon is able to re-sell Genuity services in states where they can offer long distance and Internet services. Verizon currently is on track to meet purchase commitments under this five-year, take-or-pay contract whereby it will purchase approximately $500 million in Genuity services, including dedicated Internet access, managed Web hosting and Internet security. "The momentum we are gaining by working together and the ultimate benefits that a Verizon/Genuity relationship brings to our customers are clear," said Verizon CEO Ivan Seidenberg. "Over the past two years, Genuity and Verizon have uncovered great opportunities to not only jointly market and sell Genuity's innovative services, but to help our customers at the same time. The achievements of this relationship, combined with the broader steps they have taken to operate their business more efficiently, help position Genuity well for the future." Verizon Communications Inc. Genuity Inc.
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