RealTime IT News

Telstra Takes 20 Percent Stake in Extant

Teltra and US-based Extant have announced a Memorandum of Understanding under which Telstra will take a 20 per cent equity interest in the company.

Extant is building a wide broadband data communications network and establishing an Internet-based independent data clearinghouse between competitive and incumbent local exchange carriers (LECS) in major US markets.

As a strategic investment partner, Telstra will secure exclusive rights to the Extant system for the Asia-Pacific region as well as providing extensive service capability to the Extant Clearinghouse Community for the local region. Extant will provide Telstra regional and local US interconnect services with its local partners.

Telstra managing director for Global Wholesale John Hibbard, said the MoU is consistent with Telstra's international growth strategy.

"As Telstra moves into the data and Internet environment, the association with Extant will greatly enhance our ability to quickly respond to the emerging non-voice wholesale market, not only in the US, but also in Asia, as the service capability is expanded," he said.