Transaction Network Services (TNS) has reached an agreement to acquire BT’s Radianz business. The transaction is anticipated to conclude during the first half of 2026, pending customary closing conditions, including regulatory clearance.
Launched over two decades ago, Radianz provides financial information exchange networks, connecting a global community of brokers, institutions, exchanges, and clearing and settlement houses. These connections enable access to thousands of applications and services essential for the daily operations of global capital markets. TNS is a global provider specializing in ultra-low latency trading infrastructure, connectivity, and market data services.
This planned acquisition aligns with BT’s strategic objective to concentrate on its UK operations as a national champion while assessing options to optimize its international business portfolio. For TNS, the acquisition is expected to expand its service offerings and market presence.
Tom Lazenga, General Manager of TNS Financial Markets, noted that the development is beneficial for clients of both TNS and Radianz, who will gain access to a combined suite of services and new capabilities. He added that the integration of Radianz’s extensive global network with TNS’s low-latency platform positions TNS as a premier partner for financial market participants worldwide.
Bas Burger, CEO of International at BT, stated that the announcement represents a significant step in focusing BT’s international business on providing secure multi-cloud connectivity to large organizations globally. He expressed confidence that TNS will continue to deliver exceptional service to Radianz customers. Phil Swindle, Managing Director of BT Radianz, highlighted the pride in Radianz’s growth and transformation, emphasizing its role in providing mission-critical services to the financial markets community. Swindle believes the complementary strengths of both entities will foster new opportunities, drive innovation, and create sustainable growth for existing and new customers.
For the fiscal year 2024/25, the Radianz unit generated approximately £142 million in revenues. Evercore served as financial advisers to TNS, with Jones Day providing legal counsel. Citi acted as financial advisers to BT, while Bryan Cave Leighton Paisner provided legal advice.
Founded in 1990, TNS is headquartered in the United States with offices across Europe and Asia. It operates as a global provider of Infrastructure-as-a-Service (IaaS) solutions across financial, communications, and payments markets. TNS supports thousands of organizations in over 60 countries, enabling efficient interactions, secure mission-critical processes, and flexible adoption of new technologies. Since 2021, TNS has been a wholly owned subsidiary of Koch Equity Development LLC. BT Group is a leading UK provider of fixed and mobile telecommunications and related secure digital products and services, comprising three customer-facing units: Consumer, Business, and Openreach. British Telecommunications plc, a wholly owned subsidiary of BT Group plc, is listed on the London Stock Exchange.
