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Founded by Howard Jonas in 1990, IDT Corporation (IDT) is a multinational holding company engaged in the provision of telecommunication services worldwide. The company’s business spans various industries with a registered head office located in Newark, New Jersey.
IDT Corporation primarily operates through its four telecom subsidiaries: IDT Telecom, IDT Capital, IDT Solutions and Net2Phone Inc. IDT Telecom provide retail and wholesale telecommunications services such as marketing of prepaid and rechargeable calling cards, as well as consumer local, long-distance and mobile phone services. IDT Capital develops, incubates and operates IDT’s newer businesses and overseeing certain existing non-core businesses. IDT Solutions consists primarily of the IDT Spectrum (operates and markets wireless spectrum products and solutions) subsidiary. Net2Phoneis a provider of voice-over-Internet protocol communications services to resellers, consumers and service providers.
IDT Corporation offers its services to the wholesale and retail markets. In addition, the company has produced hundreds of relay switches worldwide, as well as international fiber optic network. It also pioneered VOIP (Voice over Internet Protocol) to create Net2Phone, including the first commercial WiFi phone service in the US.
IDT Corporation (IDT) is a multinational holding company with operations primarily in the telecommunications and energy industries. Its principal businesses consist of IDT Telecom, which consists of Telecom Platform Services and Consumer Phone Services, and Genie Energy, which consists of IDT Energy and Genie Oil & Gas. IDT also hold assets, including real estate and operate other smaller or early-stage initiatives and operations, such as Zedge.net and Fabrix T.V., Ltd. The Company has four business segments: Telecom Platform Services, Consumer Phone Services, IDT Energy and Genie Oil & Gas. On September 14, 2009, the Company completed the pro rata distribution of the common stock of CTM Media Holdings, Inc. Telecom Platform Services provides various telecommunications services, including prepaid and rechargeable calling cards, a range of voice over Internet protocol (VoIP) communications services and wholesale carrier services.
Description and history
IDT Corporation (IDT), incorporated in 1995, is a multinational holding company with operations primarily in the telecommunications and energy industries. Its principal businesses consist of IDT Telecom, which consists of Telecom Platform Services and Consumer Phone Services, and Genie Energy, which consists of IDT Energy and Genie Oil & Gas. IDT also hold assets, including real estate and operate other smaller or early-stage initiatives and operations, such as Zedge.net and Fabrix T.V., Ltd. The Company has four business segments: Telecom Platform Services, Consumer Phone Services, IDT Energy and Genie Oil & Gas. On September 14, 2009, the Company completed the pro rata distribution of the common stock of CTM Media Holdings, Inc.
Telecom Platform Services provides various telecommunications services, including prepaid and rechargeable calling cards, a range of voice over Internet protocol (VoIP) communications services and wholesale carrier services. Consumer Phone Services provides consumer local and long distance services in the United States. IDT Energy operates its energy services company (ESCO) that resells electricity and natural gas to residential and small business customers in New York State, and in New Jersey and Pennsylvania. Genie Oil & Gas consists of American Shale Oil Corporation (AMSO), which holds and manages its 50% interest in American Shale Oil, LLC (AMSO, LLC), its shale oil initiative in Colorado, and its 89% interest in Israel Energy Initiatives, Ltd. (IEI) its shale oil initiative in Israel.
Telecom Platform Services
The Company sells prepaid and rechargeable calling cards under the IDT, Entrix, DSA, LA LEYENDA, BOSS, Playball, GOOOL, RED, Feliz, PT-1 and PennyTalk brand names, providing telephone access to more than 230 countries and territories. It sells more than 1,000 different calling cards in the United States and more than 700 different cards abroad, with specific cards featuring rates to specific international destinations. Its calling cards are marketed primarily to the ethnic and immigrant communities in the United States, Europe, Asia, Latin America and Africa. In the United States, it distributes its prepaid cards products through its subsidiary Union Telecard Alliance, LLC (UTA). UTA utilizes a network of several hundred sub-distributors that sell to retail outlets throughout most of the United States. It also sells prepaid products to major national retailers who sell them primarily in high-traffic stores.
The Company’s Telecom Platform Services segment markets customized (private label) calling cards, IDT-branded calling cards and international mobile top up (IMTU). IDT-branded calling cards are printed with the IDT logo and design and are sold to small and medium-sized retail chains, such as supermarkets, drug stores and convenience stores, for resale to their customers. IMTU enables purchasers to top up (recharge/purchase airtime minutes for) a prepaid mobile telephone in another country. It also resells a limited amount of calling cards, as well as top up wireless cards, of other providers of telecommunications, to small and medium-sized retail chains. Its Telecom Platform Services segment carries its international telecommunications traffic and the international traffic of other telecommunications companies globally.
In Europe, the Company markets its prepaid products in the United Kingdom, the Netherlands, Spain, Germany, Belgium, France, Ireland, Italy, Luxembourg, Sweden, Finland, Switzerland, Denmark, Norway, Portugal, Austria and Greece. It maintains its European corporate and carrier services operations in London, England, and its prepaid products business headquarters in Dublin, Ireland. It also provides wholesale carrier services to European telecom companies, including foreign state-owned or state-sanctioned post, telephone or telegraph companies and Tier-1 carriers, new and emerging telephone companies, and value-added service providers.
Consumer Phone Services
The Company provides its bundled local/long distance phone service in 11 states, marketed under the brand name IDT America. Its bundled local/long distance service, offered to residential customers, includes unlimited local, regional toll and domestic long distance calling and popular calling features. It also offers long distance service throughout the United States. As of July 31, 2010, the Company had approximately 19,700 active customers for its bundled local/long distance plans and approximately 75,400 customers for its long distance-only plans.
The Company’s IDT Energy segment operates its energy service company (ESCO), which resells natural gas and electricity to residential and small business customers in eight utility markets in New York State. IDT Energy’s business, particularly its sales of natural gas, is a seasonal business. IDT Energy markets its energy services primarily through direct marketing methods, including door-to-door sales, outbound telemarketing, and Internet signup. As of July 31, 2010, IDT Energy serviced approximately 369,000 meters (210,000 electric and 159,000 natural gas).
Genie Oil & Gas
Through the development of its technology, AMSO, LLC focuses on providing a domestic supply of liquid fuels. AMSO, LLC is also working to meet emission standards, reduce carbon dioxide generation through thermal efficiency, and develop methods to sequester carbon dioxide generated during heating operations.
The Company competes with at&t, Verizon, InComm, Blackhawk Network, Coinstar, Qwest, Telefonica, France Telecom, KDD, Arbinet, Con Edison, Orange and Rockland, Central Hudson, National Fuel, National Grid USA, National Grid, Rochester Gas and Electric, Public Service Enterprise Group and PPL Corporation.
Founded by Howard Jonas
Provision of telecommunication services worldwide
CONTACT AMERICA, INC
GRANT THORNTON LLP
US SIC Code
520, Broad Street
City province or state postal code
07102, NEWARK, NJ
Phone: +1 973 438 1000
Country address: UNITED STATES OF AMERICA
Website url: www.idt.net