BT Group and Verizon are merging their international enterprise businesses into a 50:50 joint venture, creating a multinational connectivity platform serving more than 3,000 customers across 180-plus countries with combined annual revenues of around $4 billion.
The deal brings together BT International and Verizon’s international enterprise wireline arm, with Verizon paying BT an equalisation payment of $625 million reflecting the relative size of the two businesses. Completion is expected in 2027, subject to regulatory approvals.
Martijn Blanken has been appointed CEO-designate of the new venture, joining BT from 1 September ahead of the transaction closing. He brings nearly three decades of senior telecoms and digital infrastructure experience across Telstra, KPN and EXA Infrastructure, among others.
The aim of the deal is to scale the new entity in a market where global reach and cloud-native infrastructure matter increasingly to large enterprise customers. Both firms say the combination frees them to focus on their respective domestic markets while holding equal stakes in a better-resourced international operation built for AI and cloud-first connectivity demands.
Allison Kirkby, Chief Executive of BT Group, said: “The world’s leading brands and international organisations trust BT International to connect them across the world. Bringing together this expertise and heritage with Verizon’s deep relationships with multinationals will create a stronger, scaled connectivity partner – one that has the reach, innovation and investment to succeed. Customers will benefit from new, secure and resilient connectivity platforms, which are designed for the age of AI and sovereign where it matters. It will create new opportunities for our people and long-term value for our owners. Today’s announcement marks a major milestone for BT International, and an important step forward for BT as a whole, as we deliver on our UK-focused strategy.”
BT recently reported a 3$ drop in revenues.