The Speed Fibre Group, a notable telecom infrastructure provider, recently completed a €22 million acquisition of BT Communications Ireland Limited (BTCIL). This acquisition marks a pivotal moment in the Irish telecommunications landscape, consolidating resources and expanding network capabilities across the nation.
Post-acquisition, Speed Fibre will integrate BTCIL’s operations into two existing brands, Enet and Magnet+. Enet will cater to wholesale clients while Magnet+ will focus on enterprise customers. This strategic move promises operational synergies, which should lead to better connectivity, expanded customer options, and enhanced service quality.
The transaction extends Speed Fibre Group’s reach to almost 10,000 kilometers of fiber optic cables. These cables presently connect 94 towns and cities, as well as over 6,000 buildings, including more than 2,500 in Dublin. Such infrastructural expansion strengthens their position in the market significantly.
Additionally, the deal involves a long-term agreement for mutual connectivity sourcing between BT and Speed Fibre. This ensures uninterrupted services for both companies and their customers. Peter McCarthy, CEO of Speed Fibre, remarked, “This acquisition also aligns with our long-term plans to future proof Ireland’s telecommunications landscape and support Ireland’s growing digital economy.”
Owned by Cordiant Digital Infrastructure Limited, the acquisition is seen by its executives as a strategic addition to the company’s digital infrastructure portfolio in Ireland. The move underscores Cordiant’s commitment to expanding its influence in digital infrastructure investments.
On the other hand, BT Communications Ireland, before the sale, managed approximately 3,400 kilometers of fiber and served a wide range of sectors including telecoms, enterprise, and government. Despite the sale, BT will maintain its presence in Ireland, continuing operations in cloud, security, and multinational connectivity services with a workforce of roughly 400 employees.
CEO of BT International, Bas Burger, expressed satisfaction with the transaction, saying, “We are delighted to conclude this successful transaction which represents the next step in our strategy to become a more agile and focused business.”
