BT Group and Verizon Communications have announced a landmark agreement to combine their international enterprise businesses into a 50:50 joint venture, creating one of the world’s largest global connectivity providers for multinational enterprises. The new company is designed to meet the growing demand for secure, cloud-first networking and AI-ready communications while enabling both telecom giants to sharpen their focus on their domestic markets.
The joint venture is expected to serve more than 3,000 multinational customers across more than 180 countries, generating approximately $4 billion in combined annual revenue. By integrating BT International with Verizon’s international enterprise wireline business, the partners aim to deliver significant operational scale, stronger global network capabilities, and improved service efficiency for enterprise customers operating across multiple regions.
As part of the transaction, Verizon will pay BT an equalization payment of $625 million, while both companies will retain equal voting rights in the new entity. The combined business will provide secure, resilient and AI-ready connectivity platforms designed to meet increasingly complex data sovereignty, compliance and regulatory requirements across global markets.
The joint venture will also accelerate the deployment of next-generation networking platforms by combining global infrastructure with localized compliance capabilities. Customers are expected to benefit from enhanced cross-border connectivity, cloud networking, and resilient communications tailored for AI-driven business operations.
Leadership of the new company has already been outlined. Martijn Blanken has been appointed Chief Executive Officer-designate, subject to regulatory approval and completion of the transaction. Bringing almost three decades of leadership experience across telecommunications, technology and digital infrastructure, Blanken has previously held senior roles at Telstra, Openwave Systems, EXA Infrastructure and KPN, with a career spanning four continents. He will join BT on September 1, 2026, to oversee preparations for the launch of the new business. Meanwhile, Clive Selley will continue as CEO of BT International during the transition, while Verizon’s leadership remains unchanged.
The new company will be incorporated in the Bailiwick of Jersey, while its headquarters and tax residency will be located in the United Kingdom. Once operational, it will establish commercial relationships with both parent companies, enabling seamless end-to-end connectivity for BT customers in the UK and Verizon customers in the United States.
The transaction remains subject to regulatory approvals and employee consultations where required. Until the deal closes, BT International and Verizon’s international enterprise operations will continue to operate independently while maintaining uninterrupted service for their respective customers.