BT and Verizon Merge — What Changes Now?

The deal targets a very specific pain point: multinational businesses that need seamless, secure, and compliant connectivity across dozens of countries at once. Fragmented networks, inconsistent service, and outdated infrastructure have long frustrated global enterprises. This joint venture aims to eliminate all of that — and the scale behind it is hard to ignore.

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What Exactly Is the BT-Verizon Joint Venture?

BT Group and Verizon have agreed to combine their respective international enterprise arms into a 50:50 joint venture. The new company will serve over 3,000 customers across more than 180 countries, generating approximately $4 billion in combined annual revenue. Both companies hold equal voting rights, and Verizon has agreed to pay BT an equalization payment of $625 million.

The venture brings together BT International — which delivers secure, resilient communication and network services to multinational clients worldwide — with Verizon’s international enterprise wireline business, which provides cross-border secure connectivity to major enterprises. Together, they form a single, cloud-first, AI-ready platform built specifically for the demands of global business today.

The new entity will incorporate in the Bailiwick of Jersey and establish its headquarters and tax residency in the United Kingdom.

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A CEO Already In Place

Leadership decisions move fast when stakes are this high. BT and Verizon have named Martijn Blanken as Chief Executive Officer-designate of the new joint venture, subject to the transaction closing.

Blanken brings almost three decades of senior leadership experience across telecommunications, technology, and digital infrastructure. His career spans four continents, with major roles at Telstra, Openwave Systems, EXA Infrastructure, and KPN. Starting September 1, 2026, he joins BT and begins working alongside both parent companies to prepare for the venture’s formal launch.

Clive Selley remains at the helm of BT International as CEO in the meantime, maintaining continuity through the transition. Verizon’s existing leadership stays unchanged on their side.

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What the Leaders Are Saying

BT Group Chief Executive Allison Kirkby did not hold back on her confidence in the deal. “The world’s leading brands and international organizations trust BT International to connect them across the world,” she said. “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.”

Kirkby added that customers will gain access to new, secure, and resilient connectivity platforms designed for the age of AI, with sovereignty built in where it matters most.

Verizon CEO Dan Schulman framed the deal around what enterprise clients actually need right now. “Our international customers require secure, flexible connectivity that works seamlessly across borders and cloud environments,” he said. “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.”

Schulman also reassured U.S.-based clients that Verizon continues to serve them directly on domestic connectivity.

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Built for Cloud, AI, and Sovereign Compliance

This deal goes beyond a business merger. The joint venture reflects a fundamental shift in what enterprise connectivity now requires. Businesses operating across borders face growing pressure from data sovereignty laws, cloud migration demands, and the need for AI-ready infrastructure. A fragmented, multi-vendor approach simply cannot keep up.

The combined platform addresses all three fronts. It delivers scale efficiencies across a unified global network, supports local compliance and sovereignty requirements market by market, and accelerates the rollout of next-generation connectivity tools. According to the official Verizon announcement, the venture design targets the age of cloud and AI from the ground up — not as an afterthought.

Meanwhile, both BT and Verizon gain something equally valuable: the freedom to sharpen their focus on domestic markets, while retaining equal ownership of a global powerhouse. The joint venture will also maintain commercial relationships with both parent companies, ensuring end-to-end service continuity for clients in the U.K. through BT and in the U.S. through Verizon.

Goldman Sachs led financial advisory for BT, with Freshfields LLP handling legal counsel. Morgan Stanley advised Verizon, and Kirkland & Ellis LLP served as legal counsel on that side.

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When Does the BT-Verizon Deal Close?

The transaction targets a 2027 completion, pending regulatory clearances across multiple markets and consultations with employee representatives in countries where required. Until the deal officially closes, BT International and Verizon’s international business continue to operate independently, with full commitment to their existing customers.

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Questions and Answers

What is the BT and Verizon joint venture?
BT Group and Verizon are forming a 50:50 joint venture that merges their international enterprise operations into one company. The new entity will serve over 3,000 customers in more than 180 countries with around $4 billion in combined annual revenue. It targets multinational businesses that need secure, AI-ready, cross-border connectivity.

Who leads the new BT-Verizon joint venture?
Martijn Blanken takes the role of CEO-designate for the BT-Verizon joint venture, pending deal completion. He brings nearly 30 years of experience across telecom and digital infrastructure. Blanken joins BT from September 1, 2026, to help both parent companies prepare for the venture launch.

When will the BT-Verizon joint venture close?
The BT-Verizon joint venture expects to close in 2027. Regulatory clearances and employee consultations in multiple countries must happen first. Both companies continue operating their international businesses independently until completion.

Why did BT and Verizon form a joint venture?
Global enterprises need one reliable partner for secure connectivity across borders, cloud platforms, and compliance requirements. BT and Verizon formed this joint venture to deliver a single, AI-ready platform that replaces fragmented multi-vendor solutions. Both parent companies also gain tighter focus on their domestic markets as a result.