Subject to regulatory and competition approvals, the deal is set to be completed this year.
As a result, the sale of BT Communications Ireland Ltd (BTCIL), includes the telecom giant’s domestic network infrastructure, over 400 customers and the teams supporting its wholesale and business enterprises.
However, the deal, which includes a long-term agreement for the pair to source connectivity for their respective customers from each other, does not include BT’s customer base multinationals, large Irish organisations, the Emergency Call Answering Service, associated employees and the recently divested data centre business.
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Meanwhile, after the deal, the telecoms giant will continue to have a strong presence in Ireland, employing over 400 people, with offices in Dublin and regionally and connections to its global network infrastructure.
Speed Fibre Group, Peter McCarthy, said: “We are excited to welcome BT Communications Ireland into the Speed Fibre Group family.
“This acquisition, when completed, will enable us to deliver even greater value to our customers by expanding our range of connectivity solutions. It is a positive development for the Irish market, that we expect to provide us with the scale and capabilities to better serve our growing customer base.”
BT Ireland managing director, Shay Walsh, 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 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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