BT enters agreement with TNS for the sale of its Radianz business

BT and Transaction Network Services (TNS) announced TNS's agreement to acquire BT’s Radianz business. The acquisition is anticipated to finalize in the first half of 2026, contingent on regulatory approval and other customary closing conditions.

Established over 20 years ago, Radianz offers financial information exchange networks that connect brokers, institutions, exchanges, and clearing and settlement houses with essential applications and services for capital market operations.

TNS specializes in ultra-low latency trading infrastructure, connectivity, and market data services. The acquisition aligns with BT's strategy of becoming more focused on its UK operations while examining ways to enhance 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 Burger, CEO of BT International. “Our Radianz business unit will enter a new era with TNS, and we are confident that TNS will continue to deliver service to customers.”

Phil Swindle, Managing Director of BT Radianz, stated, “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 opportunities for our existing and new customers.”

Lazenga, General Manager of 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 in addition to our investments in new capabilities.”

Financial advisers Evercore and legal advisers Jones Day represented TNS, while Citi and Bryan Cave Leighton Paisner advised BT in the transaction.

In fiscal year 2024/25, the Radianz unit reported revenues of approximately £142 million.