The tie-up will combine the companies’ international enterprise operations into a connectivity venture with about $4 billion in annual revenue and more than 3,000 customers across around 180 countries.
BT Group and Verizon Communications said they will merge their international enterprise operations into a 50:50 connectivity joint venture aimed at serving multinational clients. The new company will represent about $4 billion in combined annual revenue, serve more than 3,000 customers in around 180 countries, and be led by chief executive officer-designate Martijn Blanken. As part of the agreement, Verizon will make a $625 million equalisation payment to BT, while the two companies will retain equal voting rights in the venture. The deal reshapes how both telecom groups approach cross-border corporate customers, a segment where scale, network reach and multinational service capabilities are central.