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BT - Company Report
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Company Reports are concise reports that provide a review of the company's activities, corporate strategy and recent developments.
BT is one of the world's leading providers of communications solutions and services, operating in 170 countries. The company's principal activities include: networked IT services; local, national and international telecommunications services; broadband and Internet products and services; and, converged fixed/mobile products and services. BT consists principally of four lines of business: BT Global Services, Openreach, BT Retail, and BT Wholesale. The BT of today was largely created by a radical restructuring of the company in the 2002 financial year. This restructuring involved the UK’s largest-ever rights issue (raising UK£5.9 billion), the demerger of O2 (comprising BT’s wholly-owned mobile assets in Europe), the disposal of significant non-core businesses and assets, the unwinding of Concert (the company's joint venture with AT&T) and the creation of customer-focused lines of business. BT's principal acquisition in the 2005 financial year was Infonet, one of the world’s leading providers of international managed voice and data network services. The company also acquired the 74% of Albacom that it did not already own. Albacom (now BT Italia) provides data transmission, voice and internet services to the Italian business communications market. In the 2006 financial year, BT acquired Radianz, a leading financial services extranet provider, from Reuters. It also acquired Atlanet, a Fiat subsidiary providing domestic telecommunications services to Fiat and other non-Fiat business customers throughout Italy, further reinforcing BT's position in the Italian market. During the 2007 financial year, BT completed a number of key transactions: the acquisition of dabs.com, one of the UK’s leading online retailers of IT and technology products; the purchase of California-based Counterpane Internet Security Inc, a leading provider of managed networked security services; a recommended cash offer for ISP PlusNet plc; the purchase of i2i Enterprise Pvt Ltd, a Mumbai-based enterprise services company distributing BT Infonet products and services to major Indian and multinational companies; the acquisition of International Network Services Inc (INS), a leading global provider of IT consulting and software solutions, based in California; and, increased its stake in i.Net, the company's Italian hosting and managed security subsidiary, from 51% to 65.4%. BT also completed a number of smaller transactions in the 2007 financial year, including: a joint venture with KDDI to address the growing market for the provision of global managed network services and global outsourcing services to organisations headquartered in Japan; a venture with Jubilant Enpro, part of the Jubilant Group, an Indian conglomerate, to apply for national long-distance and international long-distance licences in India; and, the disposal of its full-time satellite broadcast As of October 2007, in the 2008 financial year BT: entered into a conditional agreement to acquire Comsat International, a leading provider of data communication services for corporations and public sector organisations in Latin America; acquired Brightview Group Limited, an ISP; purchased Basilica Computing, a provider of IT solutions to UK businesses; submitted a binding offer to CS Communication & Systemes, a French IT systems and network services provider, to acquire its Mission Critical Infrastructures division; agreed to acquire INS Group SA, a Belgium-based network and systems integrator; submitted a binding, conditional offer to acquire 68.6% of Net2S SA's outstanding issued share capital. Based in Paris, Net2S provides technology consulting and engineering services for critical business solutions to large corporate customers; and, acquired Lynx Technology, a UK-based supplier of IT services. BT was created in 1981 when the telecommunications network arm of the General Post Office (GPO) was spun-off as a separate entity. The company was transformed from a state-owned enterprise to a public limited company in 1984, under the aegis of the Telecommunications Act of 1984, and shares in the business were sold in a series of public offerings between 1984 and 1993. All of BT's shares are now publicly-traded on stock exchanges in London and New York.
This Company Intelligence Report was produced as part of
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