Inteliquent^tm IQNT, a
leading provider of global interconnection and interoperability solutions,
announced today that it has definitively settled a previously disclosed
dispute with one of its largest customers relating to the termination of
certain long distance traffic. As part of the settlement, Inteliquent will
make a one-time payment of $9 million in December to this customer. The
settlement agreement contained a full and mutual release related to this
dispute.
In addition to the settlement, Inteliquent and the customer have agreed to new
terms that govern a portion of their commercial relationship. As a result,
effective October 5, 2012, Inteliquent will continue to provide various voice
services to the customer, but at pricing that is significantly lower than the
previous rate structure. Also, the Company will pay the customer a significant
amount for certain long distance traffic that it terminates to the customer's
network.
Inteliquent also confirms that it is not aware of any similar material
disputes with other telecom carriers.
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