BT Completes Radianz Acquisition

BT closes its purchase of Radianz from Reuters

April 29, 2005

1 Min Read

LONDON -- BT today announced that it has completed its acquisition of Radianz, the leading financial services extranet provider, from Reuters.

The acquisition has been approved by the US and EU competition authorities on the terms announced on March 10, 2005. The transfer of shares and funds between Reuters and BT was completed today and Radianz is now under the ownership of BT.

Andy Green, chief executive officer, BT Global Services, said: "The Radianz offering is a very significant addition to BT's global portfolio.

Financial services companies demand extremely high performance and resilient services and we aim to develop the Radianz model to deliver additional value added services for this market." Howard Edelstein, president & chief executive officer of Radianz, said:

"The closing of this deal marks a significant milestone in the development of Radianz. BT provides Radianz with increased global scope and substantial financial resources while cementing our position as a neutral shared infrastructure provider for the financial industry."

In recent months BT has also acquired Infonet and Albacom.

BT Group plc

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