Net2phone is a software/services company whose principal line of business is SIP-based and PacketCable-based VoIP. They were established in 1996 and completed their initial public offering in 1999. In 2000, Net2Phone acquired internet appliance company Aplio. In August of the same year, AT&T invested $US1.4 billion for a 32% share. The company merged with former parent company IDT Corp. in a transaction announced March 13, 2006, becoming a wholly owned subsidiary of IDT.