BT Group and Verizon Communications have agreed to combine their international enterprise operations in a 50:50 joint venture, creating a new global connectivity company focused on serving multinational businesses in the cloud and artificial intelligence era.
The new venture is expected to serve more than 3,000 enterprise customers across more than 180 countries, generating approximately $4 billion in combined annual revenue.
The agreement brings together BT International, which provides secure communications and networking services to multinational organisations, and Verizon’s international enterprise wireline business, which delivers global connectivity solutions to businesses worldwide.
As part of the transaction, Verizon will make an equalisation payment of $625 million to BT, while both companies will retain equal voting rights in the new business.
According to the companies, the combination is designed to create a larger, future-ready organisation capable of accelerating the deployment of next-generation connectivity platforms tailored for cloud computing, AI applications and growing data sovereignty requirements.
Joint Venture
The joint venture is expected to deliver greater operational scale by integrating the companies’ global network infrastructure and service operations, while providing customers with secure, resilient connectivity across international markets.
BT and Verizon said the new company will enable both parent organisations to sharpen their focus on their domestic markets while continuing to support multinational customers through the jointly owned business.
The companies also announced the appointment of Martijn Blanken as Chief Executive Officer-designate of the joint venture, subject to the completion of the transaction.
Blanken brings nearly three decades of leadership experience in telecommunications, digital infrastructure and technology, having previously held senior positions at Telstra, Openwave Systems, EXA Infrastructure and KPN. He will join BT on September 1 to help prepare for the launch of the new venture.
Meanwhile, Clive Selley will continue as CEO of BT International during the transition, while Verizon’s existing leadership structure remains unchanged.
Commenting on the agreement, BT Group Chief Executive Allison Kirkby said combining BT International’s global expertise with Verizon’s strong multinational customer relationships would create a stronger connectivity provider capable of delivering secure, AI-ready networking solutions.
“Our customers will benefit from new, secure and resilient connectivity platforms designed for the age of AI while creating long-term value for our shareholders,” she said.
Verizon CEO Dan Schulman said multinational enterprises increasingly require secure and flexible connectivity that operates seamlessly across borders and cloud environments.
“This joint venture creates a dedicated global organisation focused entirely on delivering those capabilities while allowing Verizon to continue directly serving customers’ connectivity needs within the United States,” Schulman said.
The transaction is expected to close in 2027, subject to regulatory approvals, employee consultations where required and other customary closing conditions.
Until then, BT International and Verizon’s international enterprise businesses will continue operating independently.
