Acquisitions and spinoffs
IDT operated a wireless MVNO, TúYo Mobile on the T-Mobile network. It was terminated on May 1, 2012.[18] On July 31, 2013, IDT spun off Straight Path, a communications asset company holding 39 GHz (millimeter wave) nationwide spectrum and on average, 800 MHz of bandwidth in top 30 US markets.[19] In October 2014, IDT sold Fabrix Systems, an Israel-based software company that developed and licenses a proprietary cloud based storage and computing platform, to Ericsson.[20]
In February 2015 the company announced it had reached an agreement with Empresa de Telecomunicaciones de Cuba S.A. (ETECSA), Cuba's national telecom provider, for international long distance telephony between the United States and Cuba directly.[21]
In January 2017, Net2Phone, subsidiary of IDT Corporation, acquired LiveNinja, a Miami-based messaging and live chat technology startup. LiveNinja's messaging technology is being integrated into its new product now in development. Leveraging LiveNinja's technology, net2phone will offer a multi-channel platform for small and medium-sized enterprises that spans phone, messaging, SMS and web chat.[22]
On 24 January 2018, IDT began a pilot test on using Ripple's native cryptocurrency.[23] The aim to simplify cross border payments, in order to free up billions held in foreign Vostro accounts.[24]
In March 2018, IDT completed its spinoff of Rafael Holdings with IDT founder Howard Jonas serving as chairman of the board and chief executive officer[25] Rafael Holdings holds commercial real estate assets and interests in two clinical stage, oncology focused pharmaceutical companies. The pharmaceutical holdings consist of interests in Rafael Pharmaceuticals, Inc. and a majority stake in Lipomedix Pharmaceuticals Ltd., both of which are focused on development and commercialisation of drugs in the oncology space.[26]
On April 20, 2020, during the COVID-19 pandemic, IDT Corporation applied for and received a loan of US$10 million as part of the Paycheck Protection Program. On April 26, 2020, due to criticism of large companies who were accessing the loan program intended to help small businesses, IDT announced that they would return the loan.[27][28][29]
- November 2004: launched IDT Energy, a retail energy business.[9] It and other energy-related businesses were spun off October 2011. IDT Energy went to its shareholders as Genie Energy.[10]
- January 2006: IDT Telecom, Inc. sold to GVC Networks LLC all its IDT Winstar Solution subsidiaries: Winstar Communications, Winstar Government Solutions, LLC and Winstar Wireless, LLC.
- February 2006: IDT announced it would reacquire full ownership of Net2Phone, a company it had launched in the mid 1990s.
- March 2006: IDT sold its Russian telecom business, Corbina Telecom, to a Moscow-based consortium of private equity investors.[11]
- May 2006: IDT agreed to sell its IDT Entertainment division to Liberty Media.[12]
