- Acquisition extends Speed Fibre’s fibre network to nearly 10,000 km and 94 towns and cities.
- Enet becomes Ireland’s second-largest wholesale telecoms operator, boosting competition and service options.
What happened: Speed Fibre completes $24 million acquisition of BTCIL
Speed Fibre Group, parent company of Enet and Magnet+, has completed its $24 million acquisition of BT Communications Ireland Limited (BTCIL). The deal, first announced in February, includes BTCIL’s network infrastructure, co-location facilities, wholesale and enterprise customers, and supporting staff.
BTCIL’s operations will now integrate into Speed Fibre’s two brands. Enet will handle wholesale clients, while Magnet+ will serve enterprise businesses. Additionally, the companies agreed on a long-term connectivity arrangement to ensure smooth service for both sets of customers.
Peter McCarthy, chief executive of Speed Fibre, said the deal will unlock greater scale, improve building connectivity, and offer customers better nationwide options.
The acquisition expands Speed Fibre’s fibre footprint to nearly 10,000 km, covering 94 towns and cities and over 6,000 buildings, including more than 2,500 in Dublin. As a result, Enet becomes Ireland’s second-largest wholesale telecoms operator, providing faster service and more competitive choices.
Cordiant Digital Infrastructure Limited, the London-listed owner of Speed Fibre, called the acquisition a “fantastic synergy between two of the top three market players in Ireland,” according to chair Steven Marshall.
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Why it’s important
The acquisition strengthens Ireland’s telecoms infrastructure at a critical time. By combining resources, Speed Fibre can deliver faster connectivity, wider coverage, and better reliability to enterprise and wholesale customers.
Moreover, the deal shows the strategic importance of network scale. Integrating BTCIL helps Speed Fibre compete with incumbent operators, expand fibre access in urban and regional areas, and support Ireland’s growing digital economy.
