Description
IDT Corporation is a multinational provider of cloud communications, point of sale systems, unified communications, and financial services for businesses and consumers, headquartered in Newark, New Jersey.
IDT's first service was callback, which was based on the idea that "it costs two and three times as much to call from overseas as it does the other way."
IDT was founded by entrepreneur Howard Jonas in August 1990. He founded the company after opening a sales office in Israel, receiving large international phone bills and then discovering a way to lower them by re-originating calls in the United States.
In 1996, IDT founded Net2Phone, the world's fourth-largest VoIP provider (2017), and sold 32% of Net2Phone in August 2000 to AT&T for $1.1 billion in cash.
