NEWARK, NJ–(Marketwired – November 02, 2015) – Over 600 employees, family members and friends, as well as Newark Mayor Ras Baraka, New Jersey Lt. Governor Kim Guadagno, and U.S. Senator and presidential candidate Lindsey Graham gathered in Newark, NJ last week to dedicate IDT Corporation’s (NYSE: IDT) newly renovated headquarters building and mark its 25th anniversary as a leader in the telecommunications industry.
“This is a great day for IDT,” said its founder and Chairman, Howard Jonas. “President Ronald Reagan said that ‘America is too great for small dreams.’ IDT has been successful for a quarter century because we aim high, and then hire great people to execute. IDT has been a pioneer in the telecommunications industry for 25 years, and each of the companies that we have spun-off to our shareholders in recent years — IDW Media, Genie Energy, and Straight Path Communications — has created shareholder value with a bold, innovative approach with huge upside potential.”
The lobby and three floors of the IDT building at 520 Broad Street in Newark have been completely renovated to provide state-of-the art, open-floor-plan space for over 500 employees. Genie Energy, which was spun off from IDT in 2013, shares the space with IDT.
IDT Corporation was founded in 1990 by its Chairman, Howard Jonas, who developed an automated call-back system that dramatically lowered the cost of international long distance calling. Today, IDT provides retail and wholesale telecommunications and payment services to help immigrants and the under-banked communicate and share resources around the world.
The IDT headquarters building is an 18-story 500,000 SF office space featuring views of New York City and Newark’s Washington Park. The Washington Park neighborhood in Newark is the epicenter of Newark’s Renaissance 3.0, which includes a planned 25,000 square-foot accelerator for new technology ventures adjacent to the Rutgers Business School.
About IDT Corporation:
IDT Corporation (NYSE: IDT), through its IDT Telecom division, provides retail telecommunications and payment services to help immigrants and the under-banked conveniently and inexpensively communicate and share resources around the world. IDT Telecom’s wholesale business is a leading global carrier of international long distance calls. IDT also holds a majority interest in Zedge (www.zedge.net), developer of the popular eponymous app for mobile content discovery and acquisition. For more information on IDT, visit www.idt.net.
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