Vonage Said to Work With Advisers on Review, Possible Sale

Vonage Powers Customer Support Communications and Authentication Solutions for Global Manufacturer Fisher & Paykel

Vonage Holdings Corp., under pressure from activist investor Jana Partners, is working with advisers to run a strategic review of the business, including a potential sale of the telecommunication services company, according to people familiar with the matter.

The company said in February it was terminating a sales process for its consumer business after a nine-month strategic review. Since then, Jana, the New York-based hedge fund run by Barry Rosenstein, has acquired a roughly 4% stake in Vonage and has called on it to hire advisers and explore selling all or parts of the company, Bloomberg News reported reported last month.

It’s still early in the process and Vonage might choose not to pursue a sale or breakup, the people said, asking not to be identified because the matter is private.