IDT Corporation (NASDAQ: IDTC - news) today announced that it is completing its acquisition of the InterExchange family of companies on receiving notification of the required Hart-Scott-Rodino approval. InterExchange provides satellite frame relay networking to over 20 international destinations and also operates the nation's largest international debit card platform. Continuing its rapid network deployment, IDT also announced that it will deploy two new super-node DMS 250 switches from Nortel (Northern Telecom) in Piscataway, NJ and London, UK. The Company plans to turn the switches on in June, which will enable it to route more traffic over its own telecom network, resulting in reduced costs and overall top line and bottom line growth. Additionally, the Company has completed an agreement to provide IDT with greater capacity to South America via new fiber routes and satellite capacity, giving IDT the backup bandwidth that it had been hoping to procure in another transaction. ``Now that we've increased our capacity to South America and can use InterExchange to manage it, we no longer need to chase overpriced acquisitions just to keep pace with our bandwidth requirements. Thank G-d for unanswered prayers,'' said Howard Jonas, CEO of IDT. IDT is a leading emerging multinational carrier that combines its position as an international telecommunications operator, its experience as an Internet service provider and its leading position in Internet telephony to provide a broad range of telecommunications services to its wholesale and retail customers worldwide. The company provides its customers with integrated and competitively priced international and domestic long distance, Internet access and, through its Net2Phone product offerings, Internet telephony services including Net2Phone Direct and Net2Fax. Except for historical information, all of the expectations and assumptions contained in the foregoing are forward-looking statements involving risks and uncertainties. Important factors that could cause actual results to differ materially from such forward-looking statements, include, but are not limited to, the competitive environment for Internet telephony, changes of rates of all related telco rates and services, legislation that may affect the Internet Telephony industry, IDT 's ability to operate the services described on a large scale commercial level. For additional information regarding these and other risks associated with the Company's business refer to the Company's reports filed with the SEC.