- New BT and Verizon joint venture could target $4 billion in annual revenue
- The companies target 3,000 global businesses in more than 180 countries.
- AI and cloud are the two main selling points of this new joint venture
BT and Verizon have come together to form a 50/50 joint venture to serve around 3,000 multinational customers in more than 180 countries.
The official announcement details the creation of a new “large-scale international connectivity platform” designed for a cloud and AI-driven world.
Martijn Blanken has been appointed CEO of the new joint venture, the name of which is not yet confirmed.
BT and Verizon target multinational businesses in new joint venture
By combining their respective expertise, the two hope to provide enterprise customers with a more resilient global network, 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, built for the AI era and sovereign where it matters,” noted Allison Kirkby, CEO of BT.
“Our global customers need secure, flexible connectivity that works seamlessly across borders and cloud environments,” added Dan Schulman, CEO of Verizon.
The announcement also implies that by creating a new joint venture for global businesses, it would allow both companies to better focus on their domestic markets.
BT boasted of its “resilient communications and network services” and Verizon said it would bring secure connectivity through its corporate wireline arm.
While it is unclear what type of businesses the joint venture will target, it will likely bid for contracts for some of the larger companies given the target of around 3,000 customers. Private enterprise networks, cloud connectivity, cybersecurity and cross-border connectivity will form the basis of the business.
According to the companies, the joint venture could target around $4 billion in combined annual revenue.
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