BT announces agreement for TNS to acquire its Radianz business

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

Radianz, operational for over 20 years, provides financial information exchange networks and connects a global community of brokers, institutions, exchanges, and clearing and settlement houses.

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

The transaction aligns with BT's strategy to focus on its UK operations while optimizing its international business. “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,” said Building Automation System (BAS) Burger, CEO of BT International.

Phil Swindle, Managing Director, BT Radianz, noted, “We are proud to have grown and transformed Radianz over the past years while delivering mission critical services to the financial markets community.”

Lazenga, General Manager, TNS Financial Markets, added, “This is an exciting development for clients of both TNS and Radianz who will now have access to the combined suite of services.”

Evercore served as financial advisers to TNS, while Citi served as financial advisers to BT.

The Radianz unit generated revenues of approximately £142 million during the fiscal year 2024/25.