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Technology Stocks : iBasis, Inc. -- Ignore unavailable to you. Want to Upgrade?

To: sam who wrote (22)	12/23/1999 9:15:00 AM
From: sam	Read Replies (1) \| Respond to of 211

iBasis Exceeds 150 Million Minutes in 1999 IP Voice/Fax Traffic; Sets New Internet Telephony Benchmark Business/Technology Editors BURLINGTON, Mass.--(BUSINESS WIRE)--Dec. 23, 1999-- Company Carries As Much as 10% of All Phone Traffic from US to China iBasis, Inc., (NASDAQ:IBAS) the leader in international Internet telephony, today announced that voice and fax traffic carried over its global Internet telephony network has already exceeded 150 million minutes during 1999. This unprecedented volume of phone-to-phone voice over IP traffic has been delivered over the iBasis Network(TM), the world's largest international Cisco Powered Network(TM) for Internet telephony. In addition, iBasis announced that since June it has carried as much as 10% of all phone traffic from the US to China(1). This achievement is due primarily to the company's strategic partnership with China Unicom, China's second largest carrier. "The extraordinary volume of traffic we're carrying today is due to our unique ability to deliver the cost savings of the Internet with the high level of quality demanded by our large volume, international carrier customers," said Ofer Gneezy, president and CEO of iBasis. "We are also aggressively expanding our global footprint and capacity, adding new partners, new countries and new overseas lines in order to meet the rapidly growing demand for our services." "It's clear that the demand for Internet telephony services is continuing to grow exponentially," said Mark Winther, group vice president, Worldwide Telecommunications, IDC. "And while IP telephony still makes up a relatively small percentage of all global voice and fax traffic, iBasis' experience demonstrates that on certain international routes, Internet-based service already represents a significant percentage of calls." iBasis and China Unicom In March of 1999, the Chinese government granted a license to China Unicom to provide IP telephony services. After selecting iBasis as its strategic partner for IP telephony, China Unicom began offering voice over IP services in 12 Chinese cities in June 1999. China Unicom and iBasis plan to expand IP telephony services to more than 300 Chinese cities during the year 2000. Internet Telephony From iBasis iBasis is the proven leader in Internet telephony and has employed unparalleled technological expertise to develop and deploy the world's first global voice-over-Internet Protocol (VoIP) network that provides voice and real-time fax service equal to or better than that possible over traditional phone networks. This capability has enabled iBasis to become the largest volume international phone-to-phone Internet Telephony Service Provider. Internet Telephony Hosting Recently, the company introduced Internet Telephony Hosting(TM), a flexible outsourcing solution for telephony service providers and international Internet service providers (ISPs) that enables them to quickly begin offering voice, fax, pre-paid calling and other value-added VoIP services with minimal capital investment. These new services include use of hosted voice-over-Internet protocol (VoIP) equipment in iBasis Internet Central Offices, access to high quality Internet backbone, global Public Switched Telephone Network (PSTN) termination and the Operational Support Systems (OSS) necessary for traffic management, reporting and customer billing. Global Network Expansion Underway In order to meet the rapidly growing demand for its core voice and fax services as well as to deliver new hosting solutions, iBasis has also announced plans to significantly expand its global infrastructure. As of December 1999, the company has carrier-class Internet Central Offices in Frankfurt, Hong Kong, London, Los Angeles and New York, Internet Branch Offices in dozens of countries and can terminate voice and fax traffic in virtually every country in the world. The company plans to quadruple the number of Internet Central Offices (ICOs) in its network from five to 20 by the end of 2000 substantially increasing infrastructure capacity. As the market for advanced, IP-based communications expands, this large-scale network expansion will help ensure that iBasis has the global platform necessary to deliver the value-added services that will drive the next wave of growth in Internet telephony. quote.bloomberg.com