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Cantv, Leading Carrier in Venezuela, Selects iBasis for International Voice Service
BURLINGTON, MASS. - September 08, 2003 - iBasis, Inc. (OTCBB: IBAS), the leader in Internet-based voice communications, today announced that Cantv, the largest telecommunications carrier in Venezuela, has interconnected with The iBasis Network™ for international voice services. By interconnecting with iBasis Cantv is able to route international voice traffic over The iBasis Network, as well as complete calls for iBasis over Cantv's extensive network in Venezuela.
Cantv joins the more than 180 carriers worldwide who have formed partnerships with iBasis to send and receive international long distance calls over the company's Cisco Powered Network which has carried more than six billion minutes of international calls. By providing Tier One quality international service to these carriers, iBasis has become one of the world's 10 largest carriers of international traffic1 and was recently ranked by global service providers as the world's best international wholesale carrier2.
"Leading national carriers like Cantv are recognizing the compelling value proposition of Tier One quality VoIP from iBasis," said Ofer Gneezy, president and CEO of iBasis. "By leveraging our many carrier relationships around the world, Cantv is able to deliver the highest quality international service while maintaining its focus on developing innovative voice and data products and growing its customer base."
"iBasis brings us an opportunity to expand and enhance our international service," said Alfonso Olombrada, Interconnection Manager of Cantv. "As the leading provider of voice and data services in Venezuela, we wanted to work with a global provider that would support our high quality of service for our customers while expanding our global communications footprint."
iBasis in Latin America
iBasis has significant market presence throughout Latin America - a region that has experienced annual growth VoIP traffic of more than 80% through 2002, and continues to attract more than 35% of international VoIP traffic3 . Through its more than 40 carrier partners in the region, which include Telefonica, Telecom Argentina, Orbitel, Telecom (Colombia), and now Cantv, iBasis is able to provide service to Argentina, Chile, Colombia, Mexico, Uruguay, and Venezuela.
About Cantv
Cantv, a Venezuelan corporation, is the leading Venezuelan telecommunication services provider with approximately 2.7 million access lines in service, 2.6 million cellular subscribers and 195,616 thousands Internet subscribers as of December 31, 2002. The company's strategic shareholders are affiliated of Verizon Communications Inc. with 28.5% of the outstanding capital stock (Class B Share), and retirees employees trusts which own 11.9% (Class C Shares). Public shareholders hold the remaining 46.1% of the outstanding capital stock.
About iBasis
Founded in 1996, iBasis (OTCBB: IBAS) is a leading provider of wholesale international telecommunications services. The company was named by service providers for two consecutive years as the best international wholesale carrier in Atlantic-ACM's annual International Wholesale Carrier Report Card. iBasis is a preferred provider for many of the largest carriers in the world, including AT&T, Cable & Wireless, China Mobile, China Unicom, Sprint, Telefonica, Telenor, Telstra, and MCI. iBasis has carried more than six billion minutes of international voice traffic over its global Cisco Powered Network™, and is one of the ten largest carriers of international voice traffic in the world. Based on its revenue growth from 1997 through 2001, iBasis was ranked the #8 fastest-growing technology company in North America and the #1 fastest-growing technology company in New England in the Technology Fast 500 national program sponsored by Deloitte & Touche. The company can be reached at its worldwide headquarters in Burlington, Massachusetts, USA at 781-505-7500 or from this website.
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