BT today announced that it has completed the sale of its Irish wholesale and enterprise business unit to Speed Fibre Group.

The transaction, first announced on 5 February 2025, has been cleared by the Irish the Competition and Consumer Protection Commission.

BT will maintain a strong presence in Ireland post divestment, with over 300 colleagues serving multinational companies and large organisations, and offices in Dublin and regionally. This team will also continue delivering the Emergency Call Answering Service. In Dublin, BT also employs over 100 experts in its global procurement unit, BT Sourced.

The transaction also includes a long-term agreement between BT and Speed Fibre Group to source connectivity for their respective customers from each other.

Bas Burger, CEO of BT International, said: “We are delighted to conclude this successful transaction which represents the next step in our strategy to become a more agile and focused business. We will continue to invest in this important market for our multinational customers to provide them with secure multi-cloud connectivity and deliver on our purpose to connect for good.”

BT was advised on the transaction by Citi, PWC, and Simmons & Simmons. Cordiant and Speed Fibre Group were advised by McCann Fizgerald, PwC, and Matheson.

ENDS

Dublin, 5 February 2025: BT today announced that it has reached an agreement for the sale of its Irish wholesale and enterprise business unit to Speed Fibre Group. The transaction is subject to customary conditions including competition approval and is expected to complete in 2025. 

The sale of BT Communications Ireland Ltd. (BTCIL) includes BT’s domestic network infrastructure, over 400 customers, and associated teams supporting wholesale and business enterprises. It does not include BTCIL’s customer base of multinationals, large Irish organisations, the Emergency Call Answering Service, associated employees, and the recently divested data centre business (subject to regulatory approval). 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.

The enterprise value of the put and call agreement for the acquisition of the share capital of BTCIL is €22 million.

Speed Fibre Group, the home of telecommunication companies Enet and Magnet+, is owned by Cordiant Digital Infrastructure Limited, a specialist global infrastructure investor with a focus on digital infrastructure. This acquisition will solidify Speed Fibre Group’s standing as a leading provider of telecommunications infrastructure in Ireland, broadening its reach in the wholesale and business-to-business connectivity markets. It will enhance Speed Fibre Group’s ability to deliver advanced connectivity solutions by integrating BTCIL’s complementary capabilities and domestic customer base.

For BT, the sale is part of the company’s ongoing transformation of its international business, focused on delivering secure, multi-cloud connectivity to multinational customers and large organisations in Ireland and around the world. Post-transaction, BT will continue to have a strong presence in Ireland, with over 400 employees, with offices in Dublin and regionally, and connections to BT’s global network infrastructure and propositions.

Peter McCarthy, CEO of Speed Fibre Group, said: “We are thrilled to announce that BT Communications Ireland, which includes wholesale and enterprise connectivity customers, will become part of Speed Fibre Group, marking an exciting milestone in our shared journey. 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.”

Steve Marshall, Chairman of Cordiant Digital Infrastructure Limited, said: “This transaction is an important addition to our Irish platform, representing a significant step in our strategy to build scale in key geographies. BT Communications Ireland Ltd’s capabilities complement Speed Fibre Group’s existing operations, enhancing our ability to support the growing connectivity needs of Irish businesses.”

Bas Burger, CEO, Business, BT, said: “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. Our Irish wholesale and enterprise business unit, which has been a leading alternative provider for more than 30 years, will enter a new era with Speed Fibre Group. 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. 

Shay Walsh, Managing Director, BT Ireland, said: "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 organisations 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."

BT was advised on the transaction by Citi, PWC, and Simmons & Simmons. Cordiant and Speed Fibre Group were advised by McCann Fizgerald, PwC, and Matheson.

About Speed Fibre Group: 

Speed Fibre Group is the home of telecommunication companies Enet and Magnet+. Speed Fibre Group owns and oversees entities generating a combined annual turnover exceeding €86M; Speed Fibre Group employs approximately 190 people, with operations in Limerick and Dublin and proudly serves a customer base of more than 11,000 customers. In addition, it boasts over 1 million people benefiting from wholesale networks - including mobile phone users, students, residential broadband users, public sector workers and staff in multinational organisations. Further details here: www.speedfibregroup.ie

Enet operates a nationwide wholesale telecoms network, delivering extensive connectivity solutions across Ireland. Its infrastructure includes over 5,600 km of fibre, comprising the Irish State’s Metropolitan Area Networks (MANs), proprietary metro networks, a unique dark fibre backhaul system, and one of the country’s largest licensed wireless networks

Taken together, Enet’s infrastructure creates a fully integrated nationwide telecommunications network that is truly open access in nature, enabling retail service providers and network operators to deliver world class data connectivity services to their customers throughout Ireland and enabling them to connect internationally.

Enet also offers carriers a wide and innovative range of world-class fibre and wireless wholesale products and services, ranging from Managed Connectivity, Infrastructure Access, Direct Internet Access and white label broadband. Further details here: www.enet.ie

Magnet+ is an independent connectivity provider in Ireland, offering a full suite of telecommunications solutions, including dedicated connectivity, voice, and cloud services. By combining network neutrality with world-class technical knowledge, Magnet+ offers integrated telecommunications solutions utilising its fibre, wireless, 4G, and 5G infrastructure to meet the exact needs of each client, supported by outstanding customer service. Further details here: www.magnetplus.ie

Speed Fibre Group is owned by Cordiant Digital Infrastructure Limited, (listed and traded on the London Stock Exchange as LON:CORD) an operationally focused specialist digital infrastructure investor. The business primarily invests in the core infrastructure of the digital economy - data centres, fibre-optic networks and telecommunication and broadcast towers in Europe and North America. Further details can be found here: www.cordiantdigitaltrust.com.

Dublin, 23 December 2024: BT Group Plc and Equinix today announced that Equinix has agreed to acquire BT’s datacentre business in Ireland, which includes two datacentres in CityWest and Ballycoolin, Dublin. The EUR59 million transaction is expected to complete during the first half of 2025, subject to competition and regulatory clearance.

The transaction follows a review of assets in Ireland and includes two optimally located, well-invested, and carrier-neutral facilities of approximately 150,000 gross square feet combined, a highly experienced team, and global as well as Irish customers.

BT’s asset-light strategy internationally includes a transition away from owning and operating datacentre facilities, towards partnering with globally scaled organisations. This asset-light strategy and partnership approach for datacentre services gives BT a much more commercially scalable and flexible model that delivers multiple benefits to customers with services available in over 560 locations worldwide. 

Shay Walsh, Managing Director, BT Ireland said, “This announcement with Equinix marks an exciting new chapter for our datacentre business in Ireland. The deal builds on our existing successful partnership with Equinix and ensures that customers will benefit from top-tier datacentre services nationally and globally, allowing BT to specialise in our core strengths in cloud, networking, and security.”

Peter Lantry, Managing Director, Equinix Ireland, said, “Equinix has a vital and long- established business in Ireland, with a strong track record of delivering huge value to individuals and companies throughout the Irish economy. This acquisition of assets from our existing facility enables us to continue to offer exceptional interconnection services from our unique global platform, augmenting the EUR35M annual contribution to national economic output arising from Equinix’s direct and indirect spend, measured in 2022.”

“We look forward to working closely with BT to ensure a seamless transition, welcoming their datacentre team and customers to Equinix and bringing the scale, expertise, and investment that next generation datacentre facilities require for excellent service delivery for organisations in Ireland and globally.”

In the coming months, Equinix will support the transition of the datacentres from BT, ensuring uninterrupted operations to customers and positioning the facilities as integral parts of Equinix’s global network.

About Equinix
Equinix (Nasdaq: EQIX) is the world's digital infrastructure company®. Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.

Forward-Looking Statements

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