BT and Transaction Network Services (TNS) today announced that TNS has agreed to acquire BT’s Radianz business. The transaction is expected to close in the first half of 2026, subject to customary closing conditions, including regulatory approvals.
Founded over 20 years ago, Radianz provides networks for the exchange of financial information and connects a global community of brokers, institutions, exchanges, and clearing and settlement organizations with thousands of applications and services essential to the daily functioning of the global capital markets.
TNS is a global provider of ultra-low latency trading infrastructure, connectivity services and market data.
The planned transaction is in line with BT’s strategy to become a national leader in the UK, while also seeking opportunities to optimise its international business.
“This is an exciting development for both TNS and Radianz clients, who will now have access to a combined suite of services, as well as our investments in new capabilities,” said Tom Lazenga, general manager of TNS’s Financial Markets business. “With a large global network of financial connectivity points and our leading low-latency platform, today’s news further cements TNS’s position as a leading partner for financial market participants around the world.”
Bas Burger, CEO of BT’s international business, said: “Today’s announcement is another key milestone in focusing our international business on what it does best: delivering secure multi-cloud connectivity for large organisations around the world. Our Radianz business will enter a new era with TNS and we are confident that TNS will continue to provide customers with an exceptional level of service.”
Phil Swindle, Managing Director of BT Radianz, added: “We are proud to have developed and transformed Radianz over the past few years, delivering critical services to the financial markets community. I am confident that through this planned transaction, the complementary strengths of Radianz and TNS will unlock new opportunities, drive innovation and deliver sustainable growth for both existing and new clients.”
Evercore acted as financial advisor to TNS and Jones Day acted as legal advisor to TNS. Citi acted as financial advisor to BT and Bryan Cave Leighton Paisner acted as legal advisor to BT.
In the 2024/25 financial year, the Radianz division generated revenue of around £142 million.
Founded in 1990 with headquarters in the United States and offices in Europe and Asia, TNS is a global provider of infrastructure-as-a-service (IaaS) solutions for the financial markets, telecommunications and payments industries. The company’s broad portfolio of innovative and value-added services supports the operations of thousands of organizations in more than 60 countries, ensuring their efficient interaction, secure execution of critical processes and agile implementation of new technologies. In 2021, TNS became a wholly owned subsidiary of Koch Equity Development LLC (KED), the investment and acquisition division of Koch, Inc. Learn more at tnsi.com.
BT Group is a leading provider of fixed and mobile telecommunications in the UK, as well as related secure digital products, solutions and services.
BT Group consists of three customer divisions: Consumer – serving private customers and families in the UK; Business – serving companies and government agencies; Openreach – a wholly owned subsidiary with independent management, providing fixed infrastructure services to more than 700 telecommunications providers across the UK. British Telecommunications plc is a wholly owned subsidiary of BT Group plc and combines virtually all of the group’s businesses and assets. BT Group plc shares are listed on the London Stock Exchange.
Source: Reuters