Vonage files IPO

Andy Abramson has the news here on his VoIPWatch blog

$250 million raise

Citron out as CEO

Also, Jeffery Citron steps down as CEO Michael Snyder takes over. Snyder signed an agreement and will join the Vonage board of directors and become its Chief Executive Officer. Mr. Snyder was the President of ADT Security Services, Inc., a subsidiary of Tyco International Ltd., from 1997 to 2006. He is expected to assume his duties with Vonage on February 27, 2006.

Snyder better be planning on some big cost cutting moves... otherwise $250 million won't last long. Or maybe this is a feint in an M&A negotiation?