Business Week: AT&T To Take Major Stake In Net2Phone.Business Editors New York--(BUSINESS WIRE)--March 30, 2000 BUSINESS WEEK has learned that AT&T is close to a deal in which it, and possibly others, will pay about $1 billion for a major stake in Internet phone (1) See IP phone and softphone. (2) (Internet Phone) The first VoIP telephone service in the U.S., introduced in early 1995 by VocalTec Communications Ltd., Fort Lee, NJ (www.vocaltec.com). Using a Windows softphone, calls could also be made to a regular phone. pioneer Net2Phone Inc. AT&T will buy part of the equity from IDT IDT Integrated Device Technology, Inc. (Santa Clara, CA, USA) IDT I Don't Think IDT Identity Theft IDT Interrupt Descriptor Table IDT Integrated DNA Technologies IDT Inactive Duty Training IDT Instructional Design & Technology Corp., which now holds a 58% voting stake in Net2Phone. America Online See AOL. Inc. and British Telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. PLC are also expected to invest in Net2Phone. AT&T and its partners are expected to buy 60% of IDT's stake in the company. As of Mar. 29, a Net2Phone board committee had yet to approve the deal, Business Week reports. |
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