Wednesday, March 9, 2005

BT Signs $3 Billion Contract with Reuters

BT will become Reuters supplier of network services in a contract under which Reuters is expected to spend in the region of $3 billion over eight and a half years. Under the deal, BT will provide and manage secure data networks for Reuters products and services worldwide.

BT will also acquire Radianz, a leading financial services extranet provider, from Reuters for $175 million for the business plus any cash remaining on the balance sheet, net of working capital adjustments, at the date of completion. BT said the acquisition of Radianz is an important step in its ongoing transformation into a global provider of networked IT services.

Following the acquisition, Radianz will continue to provide high quality extranet services for Reuters and the global financial services market.

  • In February 2005, BT completed its acquisition of Infonet, one of the world's leading providers of global managed voice and data network services for corporate customers. Infonet, which will be renamed BT Infonet, becomes part of BT Global Services.


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