BT and Transaction Network Services (TNS) today announced that TNS has agreed to acquire BT’s Radianz business. The transaction is expected to complete during the first half of 2026 subject to customary closing conditions, including regulatory clearance.

Launched over 20 years ago, Radianz provides financial information exchange networks and connects a global community of brokers, institutions, exchanges and clearing and settlement houses to the thousands of applications and services they need for the everyday running of the world’s capital markets.

TNS is a global provider of ultra-low latency trading infrastructure, connectivity and market data services.

The planned transaction aligns with BT's strategy to become a UK-focused national champion while exploring options to optimise its international business.

“This is an exciting development for clients of both TNS and Radianz who will now have access to the combined suite of services in addition to our investments in new capabilities,” said Tom Lazenga, General Manager, TNS Financial Markets. “With a large global network of financial endpoints and our industry leading low latency platform, today’s news firmly cements TNS as the premier partner serving financial market participants globally.”

Bas Burger, CEO of International at BT said: “Today’s announcement is another key milestone in focusing our international business on what it does best: providing secure multi-cloud connectivity to large organisations globally. Our Radianz business unit will enter a new era with TNS and we are confident that TNS will continue to deliver exceptional service to customers.”

Phil Swindle, Managing Director, BT Radianz, added: "We are proud to have grown and transformed Radianz over the past years while delivering mission critical services to the financial markets community. I am confident that through this planned transaction the complementary strengths of both Radianz and TNS will unlock new opportunities, drive innovation and create sustainable growth for our existing and new customers."

Evercore served as financial advisers to TNS and Jones Day served as legal advisers to TNS. Citi served as financial advisers to BT and Bryan Cave Leighton Paisner served as legal advisers to BT.

Notes to editors

During the fiscal year 2024/25 the Radianz unit generated revenues of approx. £142 million.

About Transaction Network Services (TNS)

Founded in 1990 and with headquarters in the United States and offices across Europe and Asia, TNS is a global provider of Infrastructure-as-a-Service (IaaS) solutions to the financial, communications and payments markets. Its extensive portfolio of innovative, value-added services supports thousands of organizations across more than 60 countries to interact efficiently, conduct mission critical processes securely and adopt new technologies flexibly. In 2021, TNS became a wholly owned subsidiary of Koch Equity Development LLC (KED), the principal investing and acquisition arm of Koch, Inc. For more information, please visit tnsi.com.

About BT Group

BT Group is the UK’s leading provider of fixed and mobile telecommunications and related secure digital products, solutions and services.

BT Group consists of three customer-facing units: Consumer serves individuals and families in the UK; Business covers companies and public services; Openreach is an independently governed, wholly owned subsidiary wholesaling fixed access infrastructure services to its customers - over 700 communications providers across the UK.

British Telecommunications plc is a wholly owned subsidiary of BT Group plc and encompasses virtually all businesses and assets of the BT Group. BT Group plc is listed on the London Stock Exchange.

For more information, visit www.bt.com/about

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