- Verizon and BT are merging their international enterprise operations in a 50:50 JV
- The JV combines BT International and Verizon’s international enterprise division
- The business is worth approximately $4 billion in combined annual revenue
Verizon and BT are merging their international enterprise operations in a 50:50 joint venture valued at $4 billion. The combined business will serve about 3,000 customers in 180 countries, according to a press release about the deal.
The JV combines BT International 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, stated the press release.
What are the current CEOs saying?
Clive Selley will continue to lead BT International as CEO to ensure readiness for the creation of the JV.
Verizon’s leadership remains unchanged, according to the announcement. Dan Schulman, CEO of Verizon, said in the press release, "Our international customers require secure, flexible connectivity that works seamlessly across borders and cloud environments. When we thought about how to best support them, this joint venture was the clear answer: a cutting-edge, AI-ready and secure platform run by a single global organization dedicated to their needs. At the same time, our relationship with those customers will stay equally strong as we continue to directly provide them with the connectivity they need in the U.S."
“Customers will benefit from new, secure and resilient connectivity platforms, which are designed for the age of AI and sovereign where it matters. It will create new opportunities for our people and long-term value for our owners. Today’s announcement marks a major milestone for BT International, and an important step forward for BT as a whole, as we deliver on our UK-focused strategy," stated Allison Kirkby, CEO of BT.
Who is the CEO of the new JV?
The two companies appointed Martijn Blanken as CEO-designate of the JV, conditional on the completion of the transaction. Blanken 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. Beginning on Sept. 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 new company.
Fierce Network has reached out to both companies for comments but had not heard back as of press time.
This is a developing story. Please check back for updates.