iBasis, Inc. (NASDAQ: IBAS), a KPN affiliate, today announced that it
has completed the repurchase of $15 million of its common stock, as
authorized by its Board of Directors on April 28, 2008.
The company repurchased approximately 3.9 million shares at an average
price per share of $3.84. With the completion of the share repurchase
program, iBasis now has 71.2 common shares issued and outstanding.
About iBasis
Founded in 1996, iBasis (NASDAQ: IBAS) is a leading wholesale carrier of
international long distance telephone calls and a provider of retail
prepaid calling services and enhanced services for mobile operators.
iBasis customers include KPN, KPN Mobile, E-Plus, BASE, and many other
large telecommunications carriers such as AT&T, Verizon, Vodafone, China
Mobile, China Unicom, IDT, Qwest, Skype, Telecom Italia, Telefonica, and
Yahoo. In October 2007, iBasis acquired KPN Global Carrier Services to
create one of the three largest carriers of international voice traffic
in the world, and KPN became a majority stockholder of iBasis. On a pro
forma basis, the combined company carried more than 23 billion minutes
of international voice traffic in 2007. The Company can be reached at
its worldwide headquarters in Burlington, Mass., USA at +1 781-505-7500
or on the Internet at www.ibasis.com.
iBasis is a registered mark of iBasis, Inc. All other trademarks are the
property of their respective owners.
Except for historical information, all of the statements contained in
the foregoing press release constitute forward-looking statements under
Section 21E of the Securities Exchange Act of 1934 and involve risks and
uncertainties. Examples of forward-looking statements include, but are
not limited to, statements regarding our beliefs, expectations, plans
and assumptions. Important factors that could cause actual results to
differ materially from such forward-looking statements include, but are
not limited to the factors described in the Company's most recent Annual
Report on Form 10-K and other periodic and current reports, all of which
are available at www.sec.gov. Such
forward-looking statements are only as of the date they are made, and we
have no current intention to update any forward-looking statements.
Media:
iBasis, Inc.
Chris Ward, 781-505-7500
or
Investors:
iBasis,
Inc.
Richard Tennant, 781-505-7409
ir@ibasis.net
