Verizon Communications and BT Group have agreed to combine their international enterprise operations into a 50:50 joint venture, creating a new global connectivity business designed to serve multinational companies across more than 180 countries. According to MarketScreener and Bloomberg, the venture will support over 3,000 business customers and generate approximately $4 billion in combined annual revenue, strengthening both firms’ ability to deliver secure, AI-ready networking and cloud connectivity solutions.
Under the agreement, Verizon will make a $625 million equalization payment to BT to ensure equal voting rights between the two partners. The new company will combine BT International with Verizon’s international enterprise wireline business, creating a dedicated platform focused on multinational organizations operating across global markets. The joint venture will be headquartered and tax resident in the United Kingdom, incorporated in Jersey, and led by Martijn Blanken, former chief executive of EXA Infrastructure, subject to completion of the transaction.
BT Chief Executive Allison Kirkby said the partnership represents a major milestone in the company’s strategy to refocus on its domestic UK operations while creating a stronger international connectivity platform for global customers. Verizon Chief Executive Dan Schulman said the venture would provide enterprises with secure, flexible, and cloud-ready connectivity across borders while allowing Verizon to sharpen its focus on its core U.S. market. The transaction is expected to close in 2027, subject to regulatory approvals and employee consultations, with both companies continuing to operate independently until then, as reported by Financial Times.
Industry analysts say the partnership reflects the growing demand for integrated global networking solutions as businesses accelerate cloud adoption, artificial intelligence deployment, and cross-border digital operations. By combining their international infrastructure and expertise, Verizon and BT aim to create one of the world’s largest enterprise connectivity platforms, positioning the joint venture to compete more effectively in the rapidly evolving global telecommunications market while enabling both parent companies to concentrate on growth opportunities in their domestic markets.
