Dutch telco KPN has reached an agreement to sell its US-based wholesale carrier subsidiary iBasis to Tofane Global, a Paris-based telecommunications and digital player specialising in international carrier services, for an undisclosed price, subject to regulatory approvals. The transaction is in line with KPN’s strategy to refocus on its business in the Netherlands.
iBasis offers a comprehensive portfolio of international wholesale voice termination and data services for many of the world’s largest fixed and mobile operators. In 2017 iBasis generated EUR705 million (USD875 million) in revenues and EUR24 million in EBITDA, and has 280 employees across 16 countries. After the closing of the transaction, iBasis will continue to deliver international voice termination and data services to KPN.