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Telecoms infrastructure provider Speed Fibre Group has officially completed its acquisition of BT Communications Ireland Limited (BTCIL), marking a significant consolidation in the Irish telecommunications market. The deal, valued at €22 million, sees Speed Fibre take ownership of BTCIL’s domestic network infrastructure, co-location facilities, and wholesale and enterprise customer bases.
Speed Fibre Group, which owns the Irish fibre operators Enet and Magnet+, will integrate BTCIL’s operations into these two brands. Enet will continue serving wholesale customers, while Magnet+ will focus on enterprise businesses. The acquisition is expected to generate significant synergies, allowing for greater scale, deeper building connectivity, increased customer choice nationwide, better value, expanded reach, and enhanced service quality.
This acquisition significantly expands Speed Fibre Group’s network footprint to nearly 10,000 kilometres of fibre optic cable, connecting 94 towns and cities across Ireland and over 6,000 buildings, including more than 2,500 in Dublin alone.
The deal also secures a long-term agreement for BT and Speed Fibre Group to continue sourcing connectivity from each other, ensuring service continuity for both organisations and their customers.
“This acquisition also aligns with our long-term plans to future proof Ireland’s telecommunications landscape and support Ireland’s growing digital economy,” said Speed Fibre Group’s CEO Peter McCarthy.
Speed Fibre Group is owned by the London-listed investment company Cordiant Digital Infrastructure Limited, which sees the acquisition as a strategic investment advancing its digital infrastructure portfolio in Ireland.
The acquisition was first announced in February this year and had to undergo customary conditions, including approval by the Competition and Consumer Protection Commission (CCPC), which was recieved in April.
BT Communications Ireland, prior to the sale, managed approximately 3,400 kilometres of fibre and served around 400 customers across telecoms, enterprise, and government sectors. Despite the sale of this wholesale and enterprise business unit, BT retains a separate presence in Ireland, focusing on cloud, security, and multinational connectivity services, with an estimated 400 employees spread across these operations.
The divestment represents the latest step in BT’s journey to streamline its operations and pare back its international businesses.
“We are delighted to conclude this successful transaction which represents the next step in our strategy to become a more agile and focused business. We will continue to invest in this important market for our multinational customers to provide them with secure multi-cloud connectivity and deliver on our purpose to connect for good,” said Bas Burger, CEO of BT International.
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