The new joint venture will focus on serving multinational organizations. It is expected to serve more than 3,000 customers in over 180 countries, representing combined annual revenues of approximately $4 billion. This breadth of operations will generate significant economies of scale across the combined global network and service operations once the transaction is complete. Designed specifically for a cloud-first world in the age of AI, the joint venture brings together BT International—which provides multinational customers with secure and resilient network and communications services worldwide—with Verizon’s international business fixed-line division, which delivers secure connectivity to businesses around the globe.
Both BT and Verizon will have equal voting rights, and Verizon has agreed to pay BT a compensation payment of $625 million. By combining global scale with infrastructure designed and built to meet local compliance and sovereignty needs, the joint venture will create a stronger platform for growth and accelerate the rollout of next-generation connectivity platforms. Customers will benefit from secure and resilient connectivity designed to meet data, operational, and regulatory requirements. At the same time, the parent companies will be able to better focus on their domestic markets while supporting the new joint venture as equal shareholders.
BT and Verizon also confirmed today that Martijn Blanken has been named CEO-designate of the new joint venture, pending completion of the transaction. Martijn has nearly three decades of experience in senior management roles across the telecom, technology, and digital infrastructure sectors, including positions at Telstra, Openwave Systems, EXA Infrastructure, and KPN, and a career spanning four continents.
Effective September 1, Verizon will join BT and collaborate with both parent companies, adhering to all relevant regulatory requirements, as they prepare for the launch of the proposed joint venture. Clive Selley will remain at the helm of BT International as Chief Executive, ensuring the continuity of BT International’s ongoing transformation in preparation for the joint venture. Verizon’s leadership remains unchanged. Allison Kirkby, Chief Executive of BT Group, said: “Leading global brands and international organizations rely on BT International to connect them around the world. Combining this expertise and track record with Verizon’s strong relationships with multinational companies will create a stronger, larger-scale connectivity partner with the reach, innovation, and investment needed to succeed. Customers will benefit from new, secure, and resilient connectivity platforms, designed for the AI era and sovereign where necessary. This will create new opportunities for our people and long-term value for our shareholders.” Today’s announcement marks a significant milestone for BT International and a major step forward for BT as a whole, as we deliver our UK-focused strategy.” 2 of 3 Dan Schulman, CEO of Verizon, said: “Our international customers need secure and flexible connectivity that works seamlessly across borders and in cloud environments. When we considered how best to support them, this joint venture was the clear answer: a cutting-edge, AI-ready, and secure platform managed by a single global organization dedicated to their needs. At the same time, our relationship with those customers will remain just as strong as ever, as we continue to directly provide them with the connectivity they need in the US.” The transaction is subject to regulatory approvals and consultation with employee representatives in countries where required. The international divisions of BT and Verizon will continue to operate independently until the transaction officially closes, maintaining a full commitment to their respective customers.
