Parent company of Limerick firm announces takeover of division of communications giant

THE PARENT company of a Limerick networks firm has announced a major takeover.

Dublin’s Speed Fibre Group, which owns Plassey-based Enet, has announced the acquisition of BT Communications Limited.

This is a business unit of the British-owned telecommunications giant BT Group Plc. The integration of the two businesses is under way.

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The acquisition includes BT Communications’ domestic network infrastructure, co-location facilities, wholesale and enterprise customer base, alongside the internal teams supporting them.

These operations will now be integrated into Speed Fibre Group’s two brands: Enet, serving wholesale customers from its outlet at the National Technology Park, and Magnet+, supporting enterprise businesses from its premises in Dublin.

The deal means Speed Fibre Group’s network now extends to nearly 10,000 km of fibre, connecting 94 towns and cities, and over 6,000 buildings.

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.

Speed Fibre Group chief executive Peter McCarthy said: “Uniting BT Communications Limited and Speed Fibre Group combines market heritage, knowledge and scale, and also restores badly needed competition in the telecommunications space at a national level.”

He added bringing together the two firms will afford customers across the country a wider choice and better value for money.

“Importantly, this acquisition also aligns with our long-term plans to future proof Ireland’s telecommunications landscape and support Ireland’s growing digital economy,” added Mr McCarthy.