- IDT Corp.
Infobox_Company
company_name = IDT Corporation
company_
company_type = Public NYSE|IDT
company_slogan =
foundation = August1990
location =Newark, New Jersey
key_people = Howard S. Jonas, ChairmanJames A. Courter , Vice Chairman and CEOIra A. Greenstein , President and Director
num_employees = 2,360 (2007)
parent =
industry =Telecommunications ,Entertainment ,Technology
products = | revenue = profit$2.013 billion USD (2007)
operating_income = loss-$139.4 million USD (2007)
-6.9%operating margin
net_income = profit$58.62 million USD (2007)
2.9%profit margin
homepage = [http://www.idt.net www.idt.net]IDT Corporation (originally standing for International Discount Telecommunications) is a
telecommunications company headquartered inNewark, New Jersey . It has begun to branch out into other business lines to increase its diversity and lower its risk profile. IDT was founded by entrepreneurHoward Jonas in August1990 . OnJanuary 26 ,2006 , IDT Telecom, Inc. sold to GVC Networks LLC all its IDT Winstar Solution subsidiaries: Winstar Communications, LLC, Winstar Government Solutions, LLC and Winstar Wireless, LLC.On
February 17 , 2006, IDT announced it would reacquire full ownership ofNet2Phone , a company it had launched in the mid 1990s.On
May 16 , 2006, IDT agreed to sell itsIDT Entertainment division toLiberty Media for "for all of Liberty Media's interests in IDT, $186 million in cash and the assumption of existing indebtedness." [ [http://www.idt.net/about/press/story.aspx?id=15601 IDT Corporation - Press Releases ] ] On August 31st, 2006, the sale of all of IDT Entertainment's US operations and several international operations was completed. "The remainder of the deal, to include the Canadian and Australian operations, is expected to be closed in the next few weeks after regulatory approval has been given." [ [http://www.4rfv.co.uk/industrynews.asp?ID=54543 UK Film and Television News - Liberty Completes First Stage of IDT Acquisition ] ] This sale was completed on 29 September 2006. [ [http://www.idt.net/about/press/story.aspx?id=17264 IDT Corporation - Press Releases ] ]On
October 12 , 2006, IDT completed the sale of its Toucan consumer phone business in the UK toPipex Communications plc . [ [http://www.idt.net/about/press/story.aspx?id=17398 IDT Corporation - Press Releases ] ]IDT has large
call center s inJerusalem ,Israel ;London ,England ; Guadalajara,Mexico and San Juan,Puerto Rico .IDT's calling card
business practices have been questioned by some, mainly due to the confusing jargon (connection fee, duration of connection, surcharges and any maintenance charges) on the finely printedTerms of Use .Fact|date=March 2008Anti-Fraud Lawsuit
IDT commenced a civil anti-fraud
lawsuit March 8th ,2007 against certain of its competitors in the US pre-paid calling card market. The lawsuit, which was filed in federal district court in Newark, New Jersey, alleges, among other things, that CVT Prepaid Solutions, Inc.,Dollar Phone Corporation ., Epana Networks, Inc., Locus Telecommunications, Inc., Total Call International, Inc., STi Phonecard, Inc., Find & Focus Abilities, Inc, VOIP Enterprises, Inc., andTelco Group, Inc . are systematically falsely promising minutes that consumers cannot obtain from the cards they have bought. The complaint alleges that thedefendant s' deceptive practice causes consumers to lose more than one million dollars a day.The lawsuit further alleges that the defendants'
fraud ulent conduct in the pre-paid calling card marketplace has negatively impacted IDT's market share, resulting in a reduction in IDT'srevenues , and also has caused reductions to net income. The suit seeks a preliminary and permanentinjunction barring defendants from continuing in this massive andsystem ic fraud as well as money damages. [ [http://www.idt.net/about/press/story.aspx?id=19126 IDT Corporation - Press Releases ] ]As of
June 5 , 2007, Epana Networks, Inc, Locus Telecommunications, Inc, and Dollar Phone Corp. have all agreed to settle the lawsuit brought by IDT. All three have agreed to work together to improve practices in the prepaid phone card industry and have agreed to deliver 100% of the minutes promised to consumers. [ [http://www.idt.net/about/press/story.aspx?id=19350 IDT Corporation - Press Releases ] ]PennyTalk
IDT inaugurated a service of cheap international calling called
PennyTalk . Of note is the use of an Australian actress to play a woman from London during the initial PennyTalk commercial campaign.UnionTelecard
Union Telecard Alliance is the distribution arm of IDT Telecom, and one of the largest distributors of prepaid phone cards in the United States with over 200 different phone card brands throughout the country.
Tuyo Mobile
IDT operates a wireless
MVNO , Tuyo Mobile on the T-Mobile network.Corporate Holdings & Operating Units
*
IDT Telecom , Inc.
**IDT Europe
***Expercom pre-paid phone card business
**IDT Telecom Asia Pacific Ltd
**Net2Phone , Inc.
**Union Telecard Alliance
**IDT Spectrum Inc. (wireless)
*2Go prepaid cards
*ettractions
*IDT Capital (formerly Menlo Park division)
**IDT Carmel
***IDT Media
****CTM Brochure Display
***Liberty Broadcasting
***Horizon Global Trading
***1160 WMET
***Approach
**IDT Energy [ [http://idt.net/corporate/press/releases/1003.asp IDT Corporation - About Us - Press ] ]Zedge
Zedge is a website for free mobile content and tools to customize mobile phones. Zedge was purchased by IDT in December 2006. [ [http://mashable.com/?p=1479 Zedge.net Acquired by IDT] , Pete Cashmore, "Mashable",
December 17 ,2006 ]Zedge was founded by Kenneth Sundnes, Tom Arnoy and Paul Shaw in Norway in early 2003. Zedge has over 10,000,000 registered members as of June 2008cite web
url=http://www.zedge.net
title=Zedge home page
publisher=Zedge Ltd.
accessdate=2008-03-10] , and later acquired comic book and graphic novels publisher, IDW Publishing, and promoted the movie "30 Days of Night" starring Josh Hartnett. [ [http://www.dmwmedia.com/news/2007/07/25/idt-forms-zedge-studios-acquires-indie-comic-publisher-idw"IDT Forms Zedge Studios, Acquires Indie Comic Publisher IDW'] . "DigitalMediaWire ",25 July 2007 ]References
External links
* [http://www.idt.net IDT Corporation] - official website
* [http://www.idtasia.net IDT Asia] - official website
* [http://www.net2phone.com Net2Phone] - official website.
* [http://www.idtenergy.com IDT Energy] - official website.
* [http://www.idtenergystore.com IDT Energy Store] - official website.
* [http://www.tuyo.com/ Tuyo Mobile] - official website.
* [http://www.idtimg.com/ Internet Mobile Group] - official website.
* [http://www.uniontelecard.com Online phone cards store] - official website.
* [http://finance.yahoo.com/q?s=IDT IDT Company Profile] - Yahoo! Finance.
* [http://www.zedge.net] - Zedge Website
Wikimedia Foundation. 2010.
