Teleglobe snaps up ITXC

5 Nov 2003

Canadian carrier’s carrier Teleglobe has announced the purchase of fellow wholesale provider ITXC in a deal which will create one of the world’s largest international voice carriers with annual revenues of more than USD1 billion. Following completion of the all stock deal, which remains subject to clearance from the relevant authorities, the new entity will operate under the Teleglobe banner, although ITXC shareholders will retain 28% of the merged company.

Via its global network which reaches 240 countries and incorporates more than 100 terrestrial and submarine cable systems, Teleglobe provides international voice, wireless roaming and data/IP services to more than 1,200 wholesale customers. The merger with ITXC will enable the company to integrate VoIP services into its offering in addition to extending its reach to a number of underdeveloped markets previously serviced by ITXC.

Canada