iBasis, Inc. (iBasis) is a wholesale carrier of international long distance telephone calls and a provider of retail prepaid calling services and enhanced services for mobile operators. The Company's operations consist of wholesale trading business (Trading), in which it connects buyers and sellers of international telecommunications services, and retail services business (Retail). In the Trading business, iBasis receives voice traffic from buyers, originating telecommunications carriers who are interconnected to its network via voice over Internet protocol (VoIP) or traditional time division multiplexing (TDM) connections, and it routes that traffic over its network to sellers, local service providers and telecommunications carriers in the destination countries with whom the Company has established agreements to manage the completion or termination of calls. On April 1, 2008, iBasis acquired certain assets from TDC, a telecommunications carrier in Denmark.
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