Technology
BT Group and Verizon to form joint venture, creating a scaled international connectivity platform for multinational customers
BT Group and Verizon agree to combine their respective international operations in a 50:50 joint venture, creating a new company focused on multinational connectivity.The joint venture will serve more than 3,000 customers across more than 180 countries, representing approx. $4 billion in combined annual revenue.The combination of international networking businesses creates a future-ready, scaled organization underpinned by a new platform designed for the age of cloud and AI.Martijn Blanken is ap
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LONDON and NEW YORK, June 29, 2026 (GLOBE NEWSWIRE) -- BT Group (BT) and Verizon Communications Inc. (NYSE, Nasdaq: VZ) today announced the signing of an agreement to combine their respective international enterprise operations into a 50:50 joint venture – in a move that is set to transform international connectivity. The new joint venture will focus on serving multinational organizations. It is expected to serve more than 3,000 customers across more than 180 countries, representing approximately $4 billion in combined annual revenue. This breadth of operations will unlock significant scale efficiencies across the combined global network and service operations following completion. Designed specifically for a cloud-first world in the age of AI, the joint venture brings together BT International, which serves multinational customers with secure and resilient communication and network services around the world, with Verizon's international enterprise wireline arm, which provides secure connectivity to enterprises worldwide. Both BT and Verizon will hold equal voting rights and Verizon has agreed to pay BT an equalization payment of $625 million. By combining global scale with infrastructure designed and built to support 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 better able to focus on their domestic markets, while providing support to the new joint venture as equal shareholders. BT and Verizon have also today confirmed that Martijn Blanken has been appointed Chief Executive Officer-designate of the new joint venture, conditional on the completion of the transaction. Martijn has almost three decades in senior leadership positions across telecommunications, technology and digital infrastructure at Telstra, Openwave Systems, EXA Infrastructure and KPN, and a career spanning four continents. From September 1, 2026, he will join BT and will work with both parent companies, while observing relevant regulatory requirements, as they prepare for the launch of the proposed joint venture.