KPN sells off its wholesale unit iBasis to Tofane Global

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iBasis has announced that it parent company KPN will sell the wholesale unit to new France-based international carrier Tofane Global.

Tofane Global aims to become one of the leaders of the international carrier services via acquisitions and digital transformation, and sees iBasis as the cornerstone of its consolidation strategy.

No financial details were disclosed.

iBasis sais the the transaction supports its goals to remain a strong player in international voice with its sizable IPX footprint for LTE which also drives its IoT Service solution.

The transaction is subject to regulatory approval – in the interim, daily business efforts will continue as usual, and iBasis will continue to operate as a KPN company. Tofane Global and iBasis will remain a long-term strategic partner to KPN for delivering international voice termination and mobile data services.

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