BT and Verizon sign ‘major milestone’ tie-up to connect customers across 180 countries | Daily Reports Online
- BT and Verizon new joint venture could target $4 billion in annual revenue
- The companies are targeting 3,000 global enterprises across 180+ countries
- AI and cloud are the two primary selling points for this new joint venture
BT and Verizon have come together to form a 50:50 joint venture looking to serve around 3,000 multinational customers across more than 180 countries.
The official announcement details the creation of a new “scaled international connectivity platform” designed for a cloud-first, AI-first world.
Martijn Blanken has been appointed as CEO of the new joint venture, the name of which currently remains unconfirmed.
BT and Verizon target multinational enterprises in new JV
By combining their respective expertise, the two hope to provide enterprise customers more resilient global networking, more secure connectivity and infrastructure designed specifically for local laws, regulations and data sovereignty demands.
“Customers will benefit from new, secure and resilient connectivity platforms, which are designed for the age of AI and sovereign where it matters,” BT CEO Allison Kirkby noted.
“Our international customers require secure, flexible connectivity that works seamlessly across borders and cloud environments,” Verizon CEO Dan Schulman added.
The announcement also implies that, by spinning off a new JV for global enterprises, it would allow the two companies to improve focus on their domestic markets.
BT boasted about its “resilient communication and network services,” and Verizon said it would bring secure connectivity via its enterprise wireline arm.
Though it’s unclear which type of enterprises the JV will be targeting, it will likely bid on contracts for some of the biggest enterprises given the target of around 3,000 customers. Private enterprise networks, cloud connectivity, cybersecurity and cross-border connectivity will form the basis of the company.
According to the firms, the join venture could target around $4 billion in combined annual revenue.
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