BT Announces Sale of Its Irish Business Unit to Speed Fibre Group

BT has agreed to sell its Irish wholesale and enterprise business, BT Communications Ireland Limited (BTCIL), to Speed Fibre Group for EUR 22 million. The deal, subject to regulatory approval, is expected to close in 2025. “The transaction also comprises of a long-term agreement for BT and Speed Fibre Group to source connectivity for their respective customers from each other,” BT said on Wednesday.

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Also Read: Equinix to Acquire BT’s Datacentre Business in Ireland for EUR 59 Million

Key Details of the Acquisition

The acquisition includes BTCIL’s domestic network infrastructure, over 400 customers, and supporting teams. However, BT will retain its multinational and large Irish enterprise customers, emergency call services, associated employees and recently divested data centre business. As part of the deal, BT and Speed Fibre Group will maintain a long-term connectivity partnership.

Speed Fibre Group, the parent company of Enet and Magnet+, is owned by Cordiant Digital Infrastructure. According to the official release, the acquisition strengthens its position in Ireland’s wholesale and B2B telecoms market, enhancing its ability to deliver connectivity solutions by integrating BTCIL’s complementary capabilities and domestic customer base.

BT’s Ongoing Global Transformation Strategy

For BT, the sale aligns with its ongoing global transformation strategy, focusing on delivering multi-cloud connectivity to multinational customers and large organisations in Ireland and worldwide

“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,” said the CEO of Speed Fibre Group.