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M2 PRESSWIRE-17 October 2002-ITXC: ITXC named The Fastest Growing Technology Company in North America on the 2002 Deloitte & Touche Technology Fast 500 (C)1994-2002 M2 COMMUNICATIONS LTD
PRINCETON, NEW JERSEY, USA -- ITXC Corp. (Nasdaq: ITXC), one of the world's leading global wholesale voice carriers, today announced that it is number one on the 2002 Deloitte & Touche Technology Fast 500, a ranking of the 500 fastest growing technology companies in North America.
Rankings are based on percentage revenue growth over five years, from 1997-2001. ITXC grew its revenue 293,493% from $59,000 in 1997 to $173,220,000 in 2001.
"ITXC is honored to be named the fastest growing technology company in America and Canada," said Chairman and CEO of ITXC Tom Evslin. "We are also particularly pleased to report that the telecommunications industry is alive and well for companies who can deliver value without accumulating massive debt. The number of international calls continues to grow. The number of mobile phones continues to grow and countries around the world are rapidly deregulating. The turmoil in our industry is both an obstacle and an opportunity. These are exciting times.
"Five years ago we began developing the proprietary technology which makes it possible for us to get the economic advantage of using the world's largest network, the Internet, to carry ordinary phone calls without sacrificing the quality that callers expect," Evslin continued. "The capital advantage of using the Internet made it possible for us to build a global network with a footprint in over 170 countries without going into debt (and it is debt that has destroyed many players in the telecommunications industry). The capital and operational advantages to our wholesale customers of the huge...