Speed Fibre Group to buy BT wholesale and enterprise business unit in Ireland
Speed Fibre Group – parent company of Magnet+ and Enet – is to buy BT Ireland’s wholesale and enterprise business unit. The transaction is subject to customary conditions including competition approval and is expected to complete in 2025.
The sale includes BT’s domestic network infrastructure, over 400 customers, and associated teams supporting wholesale and business enterprises. It does not include a 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.
Speed Fibre Group, the home of telecommunication companies Enet and Magnet+, is owned by Cordiant Digital Infrastructure Limited, a global infrastructure investor with a focus on digital infrastructure.
For BT, the sale is part of the company’s renewed focus 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: “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.”
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 18 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.”
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