Vonage, an Internet telephony provider, filed for an initial public offering on Wednesday with the Securities and Exchange Commission to raise $250 million.

The company, based in Holmdel, N.J., also named a new CEO, Mike Snyder, who was the president of ADT Security Services, a unit of Tyco Fire & Security. The company’s founder, Jeffrey Citron, will become chief strategist, the company said.

Source: News.com