- BT and Verizon’s new joint venture could target $4 billion in annual revenue
- The companies target 3,000 global companies across 180+ countries
- AI and cloud are the two primary selling points for this new joint venture
BT and Verizon have joined forces to form a 50:50 joint venture that aims to serve around 3,000 multinational customers in more than 180 countries.
The official announcement describes the creation of a new “scaled international connectivity platform” designed for a cloud-first, AI-first world.
Martijn Blanken has been appointed CEO of the new joint venture, whose name has yet to be confirmed.
BT and Verizon target multinationals in new JV
By combining their respective expertise, the two hope to provide enterprise customers with more robust global networking, more secure connectivity and infrastructure designed specifically for local laws, regulations and data sovereignty requirements.
“Customers will benefit from new, secure and resilient connectivity platforms designed for the AI age and superior where it matters,” noted BT CEO Allison Kirkby.
“Our international customers demand secure, flexible connectivity that works seamlessly across borders and cloud environments,” added Verizon CEO Dan Schulman.
The announcement also implies that by spinning off a new JV for global companies, it will give the two companies the opportunity to improve their focus on their home markets.
BT boasted its “resilient communications and network services” and Verizon said it would bring secure connectivity via its company’s cable arm.
While it is unclear what type of companies the JV will target, it is likely to bid for contracts for some of the largest companies given the target of around 3,000 customers. Private enterprise networks, cloud connectivity, cyber security and cross-border connectivity will form the foundation of the business.
According to the companies, the joint venture could aim for around $4 billion in total annual revenue.
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