Arbinet Acquires Band-X’s IP Trading Exchanges in New York, London and Edinburgh
Expands its data on thexchange Marketplace
New Brunswick, NJ – September 27, 2004 – Arbinet, the leading electronic market for communications trading, announced today that it has acquired Band-X’s IP Trading Exchange business with more than 200 buyers and sellers in New York, London and Edinburgh. This acquisition expands the geographic coverage of Arbinet’s data on thexchangeSM marketplace, launched in July in Los Angeles.
Data on thexchange enables Tier 1 and regional service providers, content aggregators, ISP’s, cable operators, e-commerce businesses, gaming providers and enterprises to buy and sell Internet routes using Arbinet’s automated trading system. The platform routes a buyer’s traffic to sellers of the entire Internet or specific autonomous system numbers (ASNs) by its performance and price criteria, and consolidates billing and collections with one settlement.
"We will integrate these Internet exchange delivery points with our Los Angeles EDP to create an electronic market where over 225 industry buyers and sellers trade, route and settle Internet access," says Curt Hockemeier, president and CEO of Arbinet. "We believe this acquisition will allow more buyers and sellers to improve profitability and cash flow by reducing their numbers of interconnections, reducing selling, legal, billing and collection expenses and eliminating disputes and bad debt," Hockemeier says.
"Not only do we acquire new customers, facilities and equipment with this acquisition, we also gain a sales, support and technical team in these markets," adds Roger Kim, vice president data on thexchange. "We believe the acquisition will accelerate the growth of our exchange for Internet capacity. "
Arbinet is the leading electronic market for trading, routing and settling communications capacity. Members of our exchange, consisting primarily of communications service providers, anonymously buy and sell voice calls and Internet capacity based on route quality and price through our centralized, efficient and liquid marketplace. Members place orders through our web-based interface. Our fully-automated, highly-scalable trading platform matches these orders using our proprietary software and delivers them through our state-of-the-art facilities. For more information, visit Arbinet at www.arbinet.com.
This press release shall not constitute an offer to sell securities or a solicitation of an offer to buy securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.