Speed Fibre Group finalises acquisition of BT Communications Ireland
Speed Fibre Group, parent company of Enet and Magnet+, has completed of its acquisition of BT Communications Ireland Ltd (BTCIL), a business unit of BT.
The acquisition, announced in Februagy 2025, includes BTCIL’s domestic network infrastructure, co-location facilities, wholesale and enterprise customer base, and the internal teams supporting them. These operations will now be integrated into Speed Fibre Group’s two brands: Enet, serving wholesale customers, and Magnet+, serving enterprise businesses.
Following the transaction, Speed Fibre Group’s network now extends to nearly 10,000km of fibre, connecting 94 towns and cities, and over 6,000 buildings including more than 2,500 in Dublin and key urban centres.
Peter McCarthy, CEO of Speed Fibre Group (pictured), said: “Uniting BTCIL and Speed Fibre Group combines market heritage, knowledge and scale, and also restores badly needed competition in the telecommunications space at a national level. By bringing together two leaders in the market, we will unlock greater scale, deeper building connectivity, and the ability to offer customers nationwide increased choice, better value, expanded reach and service excellence.
“Importantly, this acquisition also aligns with our long-term plans to future proof Ireland’s telecommunications landscape and support Ireland’s growing digital economy. Our next-generation infrastructure is designed to support high volume and decentralised data flows essential for sectors like AI, pharma, and cloud services who require fast, reliable, and scalable connectivity.”
Speed Fibre Group is owned by Cordiant Digital Infrastructure, a specialist global infrastructure investor with a focus on digital infrastructure.
Steven Marshall, chairman of Cordiant, said: “This acquisition is a fantastic synergy between two of the top three market players in Ireland. It will make Speed Fibre Group more efficient, more competitive and in a better position to roll out even more innovative and better value solutions for customers.
“With a proven management team in place, this is a transformational transaction for the Irish telecoms market. We’re very much looking forward to working with Speed Fibre Group to continue this investment trajectory so we can support customers, grow the digital industries in Ireland, and, by extension, support GDP and economic growth in Ireland.”
In August the Competition & Consumer Protection Commission cleared cleared the acquisition of BT Datacentres Ireland by Equinix for an estimated €59 million.
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