IDT and Tigo Guatemala Sign a Reciprocal Services Agreement
Sep 05, 2017, 08:30 ET
NEWARK, N.J., Sept. 5, 2017 /PRNewswire/ -- IDT Corporation (NYSE: IDT) and COMCEL Guatemala ("Tigo"), a joint venture of Millicom International Cellular S.A. (NASDAQ: MIICF), today announced the signing of a Reciprocal Services Agreement allowing a full range of services, including, but not limited to, termination of inbound and outbound international long-distance voice calls to Tigo´s network in Guatemala.
"We are delighted with this strategic long-term Reciprocal Services Agreement, which will enable us to provide Tigo a variety of services and will greatly improve IDT's competitive position in Guatemala as a service provider of international voice calls, both inbound and outbound," said Bill Pereira, CEO of IDT Telecom. "Tigo is a highly-experienced operator with global reach with whom we have built a successful relationship over many years."
The long-term agreement is expected to increase IDT's wholesale minute volumes through Guatemala while providing Tigo with a stable partner in the rapidly changing wholesale market.
Guatemalans living in North America and Europe will benefit from the partnership through IDT's flagship consumer calling service, BOSS Revolution.
"This agreement is a milestone in our long relationship with IDT," said Luis Fernando Valladares, CEO of Tigo. "We have collaborated with IDT for years providing international voice service and mobile top-up offerings in North America, Latin America and Europe through IDT's retail network. In the wholesale carrier market, we have long leveraged each other's global telecommunications networks to terminate international voice traffic."
IDT Telecom is calling-line identification (CLI) certified in over 165 countries, has over 430 CLI-certified routes and over 600 direct connects. As the wholesale voice industry evolves and the number of carriers with worldwide coverage of direct connects begins to shrink, only a handful of carriers will be well positioned to manage inbound and outbound traffic on behalf of an operator. This agreement solidifies IDT's position as the leading independent voice carrier whose global reach can add true value to a network operator's voice business.
"The wholesale voice market is being transformed by OTT services," IDT's Pereira added. "Nevertheless, the traffic generated by our BOSS Revolution consumer calling service has helped us leverage our wholesale minutes at a time when other firms are exiting the wholesale carrier business altogether. Today, IDT is one of the largest carriers of minutes globally and the world's largest independent carrier. Our strength and stability in the wholesale carrier market makes IDT Carrier Services a logical choice for telephony operators working to sustain profitable international voice offerings," he concluded.
About Tigo:
COMCEL Guatemala ("Tigo") is jointly owned by the Millicom Group and Miffin Associates Corp. Millicom offers digital lifestyle products and services primarily through wireless and cable TV/ high-speed broadband networks in Central America, South America and Africa. COMCEL benefits from Millicom's vast emerging markets operating experience, product development and technical expertise and sharing of best practices gained from its operations in 13 emerging markets. Miffin is a holding company with interests in several lines of business, including telecommunications, real estate and renewable power. Miffin has greatly contributed to COMCEL success through its deep understanding of Guatemala's economy and demographics (including our customer base) and through its relationships with commercial, industry and other strategic stakeholders.
About IDT Corporation:
IDT Corporation (NYSE: IDT), through its IDT Telecom division, provides telecommunications and payment services to individuals and businesses primarily through its flagship Boss Revolution® and Net2Phone® brands. IDT Telecom's wholesale business is a leading global carrier of international long distance calls. For more information on IDT, visit www.idt.net.
SOURCE IDT Corporation