- New BT and Verizon joint venture could reach $4 billion in annual revenue
- The companies target 3,000 global companies in more than 180 countries.
- AI and cloud are the two main selling points of this new joint venture
BT and Verizon have joined forces to form a 50:50 joint venture that seeks to serve around 3,000 multinational customers in more than 180 countries.
The official announcement details the creation of a new “international connectivity platform at scale” designed for a cloud-first and artificial intelligence-first world.
Martijn Blanken has been appointed CEO of the new joint venture, whose name is not yet confirmed.
BT and Verizon target multinational companies in new joint venture
By combining their respective experiences, the two hope to provide enterprise customers with more resilient global networks, 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, designed for the AI era and sovereign where it matters,” said BT chief executive Allison Kirkby.
“Our international customers require 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 companies, it would allow the two companies to improve their focus on their domestic markets.
BT boasted of its “resilient communications and networking services” and Verizon said it would provide secure connectivity through its business landline division.
Although it is not clear what type of companies the joint venture will target, it will likely bid on contracts for some of the largest companies, given the target of around 3,000 customers. Private enterprise networks, cloud connectivity, cybersecurity and cross-border connectivity will form the foundation of the enterprise.
According to the companies, the joint venture could achieve combined annual revenues of about $4 billion.
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