Ron points to some analysis by Mark Evans and all recent Vonage gossip believes that Vonage could acquire Vocaltec and thus use the reverse merger process to take Vonage public. The only problem is that since Vocaltec trades on US exchanges, Vonage CEO Jeff Citron could have a tough time pulling it off.
Interestingly, last night Sheridan Square Entertainment announced that it definitely will come public as part of Hirsch International (HRSH) — no relation, but I do own many shares which are skyrocketing in premarket. Sheridan is a leading independent purveyor of pop music, mainly through its Artemis label. Hirsch is the leading seller of high-end computerized embroidery machinery. See this press release
http://biz.yahoo.com/bw/050721/216018.html?.v=1