BT and Verizon Create US$4bn International Joint Venture

BT Group and Verizon Communications have signed an agreement to merge their international enterprise operations into a 50:50 joint venture, marking what both companies describe as a transformation in how multinational organisations access global connectivity.

The new entity will serve more than 3,000 customers across more than 180 countries, generating approximately US$4bn in combined annual revenue. The structure brings together BT International, which provides secure communication and network services to multinational customers, with Verizon's international enterprise wireline division.

Under the terms of the deal, both companies will hold equal voting rights. Verizon has agreed to pay BT an equalisation payment of US$625m to balance the respective contributions to the venture.

"The world's leading brands and international organisations trust BT International to connect them across the world,” says Allison Kirkby, CEO of BT Group. 

“Bringing together this expertise and heritage with Verizon's deep relationships with multinationals will create a stronger, scaled connectivity partner – one that has the reach, innovation and investment to succeed. Customers will benefit from new, secure and resilient connectivity platforms, which are designed for the age of AI and sovereign where it matters." 

Allison explains that the joint venture is an important development for BT Group as a whole. 

“It will create new opportunities for our people and long-term value for our owners,” she says. “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."

Dan Schulman, CEO at Verizon, adds: "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 organisation 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 US."

A platform built for cloud and AI

The joint venture has been designed specifically for what both operators describe as a cloud-first world in the age of AI.

By combining global scale with infrastructure built to support local compliance and sovereignty requirements, the partnership aims to accelerate the rollout of next-generation connectivity platforms.

The arrangement will allow BT and Verizon to concentrate more resources on their respective domestic markets while maintaining their relationships with international customers through equal shareholdings in the new venture.

“For BT, this is another clear marker of Allison Kirkby’s strategy to simplify the group, reduce international exposure and focus more sharply on its core UK market,” says Paolo Pescatore, Founder and TMT Analyst at PP Foresight, on LinkedIn. 

Paolo sees the deal as a pragmatic and sensible move for both companies.

"For BT, it provides a cleaner structure, supports its UK-focused strategy and removes a long-standing question mark over the future of its international business. For Verizon, it strengthens its global enterprise reach without the complexity of a full acquisition," he explains.

BT International was created in June 2025, as a dedicated operation within the BT Group. Its platforms include: 

• Global Voice: A SIP-powered, cloud-focused platform enabling voice to be carried across data networks.
• Global Fabric: An AI-ready, cloud-centric network-as-a-service (NaaS) platform that provides customers with instant, secure and resilient connectivity to apps and digital services.
• Global Edge: Launched in May 2026, this is an extension of Global Voice, it merges voice, collaboration and number management into one, vendor-agnostic service.

Martijn Blanken named CEO-designate

The two operators have appointed Martijn Blanken as CEO-designate of the new joint venture, conditional on completion of the transaction.

Martijn has nearly three decades of experience in senior leadership roles across telecommunications, technology and digital infrastructure at companies including Telstra, Openwave Systems, EXA Infrastructure and KPN, with a career spanning four continents.

From 1 September, Martijn will join BT and work with both parent companies as they prepare to launch the joint venture, while observing relevant regulatory requirements.

Clive Selley will continue to lead BT International as CEO, providing continuity during the transformation period ahead of the venture's creation. Verizon's leadership structure remains unchanged.

2027 completion expected

The transaction is expected to complete in 2027, subject to regulatory clearances and consultation with employee representatives in countries where required. Until the deal officially closes, BT and Verizon's international businesses will continue to operate independently.

The new joint venture will be incorporated in the Bailiwick of Jersey and headquartered and tax-resident in the UK. Once operational, it will establish commercial relationships with both BT and Verizon to provide end-to-end services across borders, including for customers in the UK and the US.