ITXC Corp. Receives $3 Million in Vendor Financing From Lucent Technologies
ITXC Announces Expansion of Its Network
PRINCETON, N.J.--(BUSINESS WIRE)--March 22, 1999-- ITXC Corp, the tier 1 carrier of Internet telephony, announced today that it has received a commitment from Lucent Technologies (NYSE:LU - news) for up to $3 million in vendor financing.
This vendor financing, along with the proceeds of a $15 million second round of venture capital which the company announced receiving earlier this week, will be used to expand ITXC's Internet telephony origination and termination footprint in the United States and globally.
ITXC already operates a hub in New York City with Lucent and VocalTec gateways and Excel switches. Nineteen prepaid calling card companies, carriers, and other resellers connect their switches to ITXC at this hub in order to take advantage of ITXC's ability to provide excellent prices and consistent quality to international destinations by routing calls over the Internet.
Calls are terminated with 63 affiliates operating PoPs in more than 56 international cities. This highly redundant network of affiliates who meet ITXC's stringent quality requirements provides the quality that ITXC's customers enjoy.
These affiliates, some of whom are carriers, often also originate traffic over ITXC's network through their own gateways. This is already the largest Internet telephony footprint in the industry.
ITXC will open an additional hub for reseller and carrier interconnections in Los Angeles in May. A third domestic hub is planned for Miami. The first international hub will be in London with other European and Asian locations to follow.
''Lucent is demonstrating its commitment to the IP telephony market,'' said Tom Evslin, Chairman and CEO of ITXC. ''The Lucent PacketStarTM IP Telephony Systems (ITS) operating in our hubs allows us to provide a business grade service with excellent voice quality and integrated fax even on the ''public'' Internet.''
About ITXC Corp:
ITXC Corp(TM) is the tier 1 carrier of Internet telephony. ITXC's Internet telephony network with PoPs in 56 international cities is the largest in the industry. Its WWeXchange(TM) Service provides wholesale call completion at exceptional prices and with consistent quality to any phone in the world using a combination of Internet telephony and traditional PSTN.
Its customers and affiliates are traditional telephone companies, new competitive carriers, ISPs, prepaid calling card companies, call back companies, and newly formed Internet telephony service providers. Announced carrier affiliates include Bell Atlantic, Korea Telecom and Japan Telecom.
ITXC was founded by Tom Evslin in 1997 following his departure from AT&T where he developed the concept for and built AT&T's WorldNet ISP. Evslin joined AT&T from Microsoft where he was responsible for the ''BackOffice'' products.
ITXC was founded with seed money from AT&T and VocalTec. ITXC has since been capitalized with over $33 million from an international group of venture investors and strategic partners.
ITXC(TM) and WWeXchange(SM) are trademarks and service marks of ITXC Corp.
PacketStar(TM) is a trademark of Lucent Technologies.
Other trademarks mentioned belong to their respective companies.
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