Like a shy, small town bride, Net2Phone marries beneath their station
Ever know a woman or man who could have done better, but married below their station because they didn't get out in the world and make themselves available to all the better choices out there?That's sort of the feeling I have when I think about this IDT-Net2Phone consummation formally announced less than a week ago.
A few months ago, I wrote several posts endorsing the concept that iconic IP telephony softphone service Net2Phone is too valuable a potential asset to sell itself off to a rather anonymous telecom technology company such as IDT.
I've been pounding the keyboard here wondering whether or not it would have made more sense for Net2Phone shareholders to approach selling their remaining non-IDT owned shares to a strong consumer brand who could really use a VoIP service offering to boost member communications and connectivity Someone like Amazon or MySpace.
I cannot say for sure that any such notions were ever pursued- either by Net2Phone shareholders or by either Amazon or Net2Phone.
But forget about that happening, because the deal is done. Last week, IDT and Net2Phone finally agreed on a $2.05 a share deal that will result in Net2Phone's perpetuation as a brand- but one that is wholly owned by IDT as a subsidiary.
To me, this deal is a widespread failure of vision.
Failure on the part of Net2Phone shareholders and management to push the envelope and see beyond IDT's low-ball offers - and investigate the broader possibilities.
Failure on the part of Amazon to see - as their rival eBay has- that they really need a VoIP component and here was a known entity with some cachet.
Failure on the part of MySpace and its owner, NewsCorp., to not look beyond affiliate-driven softphone service contracts and realize the material benefits upside of owning a VoIP service rather than just contracting with one.