Transit has selected Veraz's NGN product suite as a core component of its new network, which in turn represents part of a US$7 million investment to enable the convergence of voice and data for IP service offerings and for the Voice over Broadband market. Implementation of the NGN is already underway and is scheduled to be completed by the end of 2006. Initial funding means a deployment serving 64 cities.
* Transit Telecom emerged through the privatisation of Brazil's telecoms sector, and currently services approximately 17,000 residential and 38,000 business customers. Transit has a strong presence in the south and southeast of Brazil but is expanding throughout the rest of the country.
** Veraz resulted from a spin-off of ECI Telecom's Next-Generation Telephony Solutions (NGTS) division and a merger with NexVerse Networks, a US VoIP start-up. While ECI Telecom remains major shareholder, Veraz plans an initial public offering in the second half of 2006 on Nasdaq, at a value estimated as much as US$500 million.