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The telecoms company will retain a strong presence in Ireland focusing on cloud and security services.
Speed Fibre Group has agreed to acquire the wholesale and enterprise business unit of BT Ireland.
The deal, valued at €22m, includes BT’s domestic network infrastructure, more than 400 customers and associated teams supporting wholesale and business enterprises.
However, it does not include BT Ireland’s customer base of multinationals, large Irish organisations, its emergency call answering service or its recently divested data centre business.
BT will retain a strong presence in Ireland, with more than 400 employees based in Dublin and regionally.
This comprises a global procurement entity of more than 100 employees and a second business unit of more than 300 staff focusing on security, cloud services and connectivity to the large organisations and multinationals based in Ireland. The second business unit will be moved into a new entity called BT Business Telecoms Ireland Ltd.
The acquisition, which is expected to close later this year, is subject to customary conditions including competition approval.
Speed Fibre Group is an Irish telecommunications company and the owner of Enet and Magnet+. It was acquired by UK investor Cordiant Digital Infrastructure Limited in 2023.
The company said its acquisition of BT’s enterprise business unit will broaden its reach in the wholesale and business-to-business connectivity markets.
Speed Fibre Group CEO, Peter McCarthy, said the deal is “a positive development for the Irish market”.
Shay Walsh, managing director of BT Ireland, said the telecoms company has transformed its Irish operations over the past 18 months to enable 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,” he said.
“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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