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September 2, 1997updated 03 Sep 2016 7:44pm

IDT SIGNS WITH MARUBENI FOR JAPANESE INTERNET TELEPHONY

By CBR Staff Writer

IDT Corp, the discount telecommunications company that plans to open its internet telephony service up worldwide (CI No 3,236), has announced a major marketing agreement with Japanese trading house Marubeni Corp, under which Marubeni and a consortium of yet to be announced partners, will market the service throughout Japan. The Marubeni-led consortium will market IDT’s internet telephony infrastructure, including its Net2Phone internet telephone to telephone client, and estimates it has 200,000 customers waiting to sign up immediately. Other consortium members will apparently be named later this week. The Net2Phone services claim to reduce the costs of international telephone calls by up to 95%. IDT, of Hackensack New Jersey, formerly International Discount Telecommunications, has also signed a similar marketing agreement with Daewoo Electronics Co in Korea, and expects further announcements shortly.

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