JT Group and CVC DIF complete acquisition of Manx Telecom following final regulatory approval
- JT Group and CVC DIF have completed the acquisition of Manx Telecom following final regulatory approval on Friday 15th May
- The transaction strengthens JT's position as the largest full-service telecoms provider across the Crown Dependencies
- The combined entity will accelerate next-generation network upgrades across Jersey, Guernsey and the Isle of Man
- CVC DIF will support expansion of enterprise, IoT and managed services capabilities internationally
- The partnership aims to deliver world-class digital infrastructure with long-term investment backing
JT Group has completed its acquisition of Manx Telecom alongside strategic partner CVC DIF, following final regulatory approval.
The transaction was formally completed on Friday 15th May, marking a significant development for telecommunications infrastructure across the Crown Dependencies.
The acquisition strengthens JT's position as the largest full-service telecoms provider across Jersey, Guernsey and the Isle of Man, combining local operations with the investment capabilities of CVC DIF, a leading global infrastructure fund manager.
Daragh McDermott, chief executive of JT Group, said: "We are delighted to complete this acquisition and formally bring two trusted telcos together. Working alongside our strategic partner CVC DIF, we now have the scale, capability and investment strength to accelerate next-generation network upgrades across Jersey, Guernsey and the Isle of Man. Together, we will continue building resilient, secure and future-ready digital infrastructure for our Islands."
Andy Green, chair of the JT Board, described the completion as an important moment for both organisations and the communities they serve.
"This partnership is about building long-term resilience and ensuring that the Crown Dependencies continue to have access to world-class digital infrastructure," he said. "By bringing our organisations together - supported by the expertise and investment of CVC DIF - we are creating a stronger platform for innovation, growth and service excellence. I'm delighted to see this next phase begin, and I'm confident it will bring meaningful benefits to customers, businesses and the wider economies of our islands."
The combined entity will focus on accelerating the rollout of next-generation networks across the Crown Dependencies whilst expanding enterprise, Internet of Things and managed services capabilities internationally.
Tom Goossens, partner and co-head of the DIF Infrastructure fund strategy at CVC DIF, said: "We are pleased to see the transaction complete and to formally begin our long-term partnership with JT Group and Manx Telecom. Both organisations play vital roles in their local markets and bringing them together creates a strong foundation for future investment in digital infrastructure. Our focus now is on supporting the group as it accelerates the rollout of next-generation networks across the Crown Dependencies and expands its enterprise, IoT and managed services capabilities internationally. We believe this partnership is well placed to create lasting value for customers, employees and the communities we serve."
JT Group is a government-owned telecommunications provider headquartered in Jersey, Channel Islands. The company delivers connectivity, mobile, broadband and enterprise solutions across the Channel Islands and internationally, with strategic investment in fibre, 5G and IoT platforms.
Manx Telecom Group is the leading telecommunications and digital solutions provider on the Isle of Man, offering fixed line, mobile, fibre broadband and data centre services. The company is currently rolling out Fibre to the Premises broadband across the island.
The group includes OV, a global IoT and connectivity business, and Synapse360, a managed IT services provider specialising in cloud and data protection solutions.
CVC DIF, founded in 2005 and headquartered in Amsterdam, manages approximately €23 billion of infrastructure assets across energy transition, transport, utilities and digitalisation sectors. The fund manager has over 260 staff across 12 offices and forms the infrastructure strategy of private markets manager CVC.
Q&A
Q: When was the acquisition completed?
A: The acquisition was formally completed on Friday 15th May, following all required regulatory approvals.
Q: Who are the parties involved in the acquisition?
A: JT Group, together with its strategic partner CVC DIF, acquired Manx Telecom. JT Group is a government-owned telecommunications provider based in Jersey, whilst CVC DIF is a global infrastructure fund manager.
Q: What areas will the combined entity serve?
A: The combined entity will serve the Crown Dependencies of Jersey, Guernsey and the Isle of Man, whilst also expanding enterprise, IoT and managed services capabilities internationally.
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