Telecommunications company BT said today it has completed the sale of its Irish wholesale and enterprise business unit to Speed Fibre Group.
The deal, which was first announced in February, has been cleared by the Irish the Competition and Consumer Protection Commission.
BT said it will maintain a strong presence in Ireland after the deal, with over 300 workers serving multinational companies and large organisations, and offices in Dublin and regionally.
Its Irish team will also continue delivering the Emergency Call Answering Service.
In Dublin, BT also employs over 100 experts in its global procurement unit, BT Sourced.
Bas Burger, CEO of BT International, said today's deal represents the next step in the company's 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," he add.
Speed Fibre Group is the parent of telecommunications companies Enet and Magnet+, and is owned by Cordiant Digital Infrastructure Limited.
Following today's transaction, it said its network now extends to nearly 10,000 km of fibre, connecting 94 towns and cities, and over 6,000 buildings including more than 2,500 in Dublin and key urban centres.
Peter McCarthy, CEO of Speed Fibre Group, said that uniting BTCIL and Speed Fibre Group combines market heritage, knowledge and scale, and also restores badly needed competition in the telecommunications space at a national level.
"By bringing together two leaders in the market, we will unlock greater scale, deeper building connectivity, and the ability to offer customers nationwide increased choice, better value, expanded reach and service excellence," he said.
"Importantly, this acquisition also aligns with our long-term plans to future proof Ireland's telecommunications landscape and support Ireland’s growing digital economy," Mr McCarthy said.
"Our next-generation infrastructure is designed to support high volume and decentralised data flows essential for sectors like AI, pharma, and cloud services who require fast, reliable, and scalable connectivity," he added.
