BT has announced an agreement to sell its Irish wholesale and enterprise business unit to Speed Fibre Group. The transaction, valued at EUR 22 million, is subject to regulatory approvals and is expected to close in 2025.
The sale of BT Communications Ireland Ltd. (BTCIL) includes its domestic network infrastructure, a customer base of over 400 businesses, and associated teams. However, the deal excludes BTCIL’s multinational (and large) Irish customer base, the Emergency Call Answering Service (ECAS), related employees, and the recently divested data center business.
As part of the transaction, BT and Speed Fibre Group will enter a long-term connectivity agreement to serve their respective customers.
Speed Fibre Group, which owns telecom providers, Enet and Magnet Plus, is backed by Cordiant Digital Infrastructure Limited. The acquisition strengthens its position as a key telecommunications infrastructure provider in Ireland, expanding its wholesale and business-to-business (B2B) connectivity offerings.
Peter McCarthy, CEO of Speed Fibre Group, said, “This acquisition enables us to deliver even greater value to our customers by expanding our range of connectivity solutions. It’s a positive development for the Irish market, providing us with the scale and capabilities to better serve our growing customer base.”
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Multi-Cloud for Multinational Corporations
For BT, the sale aligns with its strategy to focus on secure, multi-cloud connectivity for multinational corporations and large enterprises. The company will maintain its presence in Ireland with over 400 employees and regional offices, continuing to provide services through its global network.
Bas Burger, CEO, Business, BT, added, “We are confident that Speed Fibre Group will continue to deliver exceptional service to customers, and we look forward to working together with them as our future partner in Ireland.”
“We have transformed our operations in Ireland over the past eighteen months to position our various business units for future growth. This new chapter will see BT focusing on multinationals and large organizations in Ireland, with Speed Fibre Group as its wholesale network and national services partner. Through this transaction, I am confident that the complementary strengths of both entities will unlock new opportunities, drive innovation, and sustain long-term growth in the Irish telecommunications market,” Shay Walsh, Managing Director, BT Ireland, concluded.
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