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Pingo Calling Cards Parent Company iBasis Being Sold to KPN
Posted by [realname-link] on 14 Jul 2009
iBasis, the parent company of Pingo Calling Cards, is selling its remaining shares to Royal KPN (aka Koninklijke KPN), a large Dutch telecommunications company.
iBasis, a leading wholesale carrier of international long distance phone calls, is based in Burlington, MA, USA. The transaction involves KPN buying the remaining 44% of iBasis that it didn't already own. The value of the transaction is about US$49 Million.
KPN and iBasis originally joined forces in 2007 when they combined their international voice networks to create a massive global network across the Americas, Europe, and Asia.
iBasis was founded in 1996. iBasis customers include KPN, KPN Mobile, E-Plus, BASE, TDC and many other large telecommunications carriers such as Verizon, Vodafone, China Mobile, China Unicom, IDT, Qwest, Skype, Telecom Italia, Telefonica, and Yahoo. In 2008, iBasis carried approximately 24 billion minutes of international voice traffic.
Pingo is the calling card division of iBasis. Pingo sells VoIP calling cards for making cheap international calls. Pingo carries over 1.1 Billion minutes of international calls per month over its network. The company has high customer loyalty and outstanding customer satisfaction - ~93% of Pingo customers recharge their Pingo calling cards. That's exceptional.
The combined companies intend to continue Pingo operations as normal, so there should be no impact on current or future Pingo calling card customers.
Note: AboutCallingCards.com has an affiliate relationship with Pingo calling cards.
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