iBasis Announces Euro Expansion

LONDON -- iBasis, Inc. (Nasdaq: IBAS), the leader in advanced Internet-based communications, today announced plans to more than triple the number of Internet Central Offices in Europe as part of an aggressive plan to expand its market presence and services in the region. The company also announced that Tim Walsh, a former Teleglobe and FLAG Telecom executive, will lead the company's regional expansion as vice president for Europe, Middle East and Africa (EMEA). Walsh will be based in the company's new regional headquarters in London.

"With the continuing deregulation, expansion of mobile services and increased competition in European communications markets, carriers and other service providers in Europe are seeking new opportunities to work with proven providers like iBasis who understand how to deliver toll-quality VoIP and new, enhanced services that unify voice and the Internet," said Ofer Gneezy, president and CEO of iBasis, Inc. "With a proven European communications executive like Tim Walsh driving our regional expansion from our London headquarters, iBasis will have a dynamic market presence in one of the world's largest and fastest growing markets."

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