How it started
History
iBASIS was founded in 1996 by Ofer Gneezy and Gordon VanderBrug to provide wholesale international long-distance services to carriers using Voice over Internet Protocol (VoIP) technology. It held an initial public offering in November 1999 and was ranked the No. 1 fastest growing company in New England for 2000, 2001 and 2002 by Deloitte & Touche.
In October 2007, iBASIS acquired KPN Global Carrier Services, the international voice business of KPN, the national carrier of the Netherlands. KPN became a majority stockholder of iBASIS as part of the transaction. The combined entity carried nearly 24 billion minutes of international voice traffic in 2007.
According to international telecom research firm TeleGeography, that resulting traffic made the new iBASIS one of the three largest carriers of international voice traffic in the world, handling a volume roughly equal to AT&T's international voice traffic and behind worldwide leader Verizon.
In April 2008, iBASIS also acquired the international wholesale voice business of TDC A/S, a Danish carrier, for $10 million cash, which added 2 billion minutes of annual traffic and was estimated to increase annual revenues by $80 million.
On December 21, 2009, iBASIS became a wholly owned subsidiary of Royal KPN N.V. (NYSE: KPN), the national carrier of the Netherlands, which marketed throughout in Europe. iBASIS is no longer a publicly traded company.
From Wikipedia’s article on Ibasis, shared under CC BY-SA 4.0.2