Telecoms provider Speed Fibre completes €22m deal for BT Communications Ireland

Speed Fibre Group is the parent company of Enet and Magnet+

Speed Fibre Group chief executive Peter McCarthy. The telecoms infrastructure providerhas acquired BT Communications Ireland Limited.

Mon, 01 Sep, 2025 - 07:32

Martin Claffey

Telecoms infrastructure provider Speed Fibre Group has completed the acquisition of BT Communications Ireland Limited (BTCIL), the company announced on Monday.

Speed Fibre Group is the parent company of Enet and Magnet+. The deal valued at €22m was first announced in February and includes BTCIL’s domestic network infrastructure, co-location facilities, wholesale and enterprise customer base, and the internal teams supporting them. These operations will now be integrated into Speed Fibre Group’s two brands: Enet, serving wholesale customers, and Magnet+, serving enterprise businesses.

"By bringing together two leaders in the market, we will unlock greater scale, deeper building connectivity, and the ability to offer customers nationwide increased choice, better value, expanded reach and service excellence," said Speed Fibre Group chief executive Peter McCarthy.

Speed Fibre Group’s network will now extend to nearly 10,000 km of fibre, connecting 94 towns and cities, and over 6,000 buildings including more than 2,500 in Dublin. This strengthened footprint positions Enet as Ireland’s second-largest wholesale telecoms operator, enabling faster service delivery and providing real competition in the marketplace.

The transaction also includes a long-term agreement for BT and Speed Fibre Group to source connectivity from each other, ensuring continuity of service for both organisations and their customers. "This acquisition also aligns with our long-term plans to future proof Ireland’s telecommunications landscape and support Ireland’s growing digital economy," said Mr McCarthy.

Speed Fibre Group itself is owned by London-listed investment company Cordiant Digital Infrastructure Limited. “This acquisition is a fantastic synergy between two of the top three market players in Ireland," said Cordiant chair Steven Marshall.