BT has announced the sale of its wholesale and enterprise business unit in Ireland to Speed Fibre Group for €22 million. This decision introduces a new dynamic to the Irish telecom market and, pending regulatory approval, is slated for completion by 2025.
The transaction involves the transfer of BT Communications Ireland Ltd (BTCIL) to Speed Fibre Group. This acquisition includes the company’s domestic network infrastructure and a clientele of over 400 businesses. Notably, certain aspects like multinational clients, the Emergency Call Answering Service, and a recently divested data center business are not part of this sale.
An additional facet of the deal forms a strategic partnership between BT and Speed Fibre Group to mutually source connectivity services for their customers, fostering collaboration between the two entities.
Speed Fibre Group, backed by Cordiant Digital Infrastructure Limited, aims to capitalize on this expansion. The acquisition will enhance their infrastructure capabilities, solidifying their role as a prominent player in the telecoms sector and broadening their offerings in the wholesale and B2B markets. “This acquisition enables us to deliver even greater value to our customers by expanding our range of connectivity solutions,” stated Peter McCarthy, CEO of Speed Fibre Group. Steve Marshall, Chairman of Cordiant Digital Infrastructure, echoed this sentiment, noting the transaction’s significance in expanding their Irish operations.
For BT, this sale represents a strategic move to hone its core international capabilities, primarily focusing on secure, multi-cloud connectivity services for global clients. “Today’s announcement is another key milestone in focusing our international business on what it does best: providing secure multi-cloud connectivity to large organisations globally and in Ireland,” noted Bas Burger, CEO of BT’s Business division.
Despite selling its wholesale and enterprise unit, BT remains deeply rooted in Ireland with over 400 employees. The company will maintain its alignment with a global network infrastructure via regional offices, enabling focused service delivery to multinational and large enterprise clients.
Shay Walsh, Managing Director of BT Ireland, highlighted the strategic intentions behind this move, aiming to unlock new opportunities and drive growth within the Irish telecommunications landscape. As plans progress, and regulatory approvals are pursued, both companies express a shared optimism that this deal will significantly benefit their customers and bolster the telecoms industry in Ireland.
