Manx Telecom has announced it has been sold to CVC DIF and the JT Group, a company owned by the Jersey Government
The long rumoured acquisition has been confirmed today will see the company roll 5G out on the island.
The deal is being supported by CVC DIF, the infrastructure strategy of global private markets manager CVC, and is subject to regulatory approvals.
Gary Lamb, CEO of Manx Telecom Group, said: “We’ve always been proud to serve the Isle of Man, and this partnership marks an exciting new chapter, with JT sharing our core values and long-term vision.
“Working together with JT and CVC DIF, we’re in a strong position to accelerate innovation locally through 5G investment, as well as supporting the continued growth of our Group businesses OV in Global IoT and Synapse360 in Managed IT Services to deliver the high-quality service our customers expect.”
Milestone
Daragh McDermott, CEO of JT Group, added: “This is a significant milestone for JT Group and Manx Telecom Group. We’re bringing together two operators with strong community ties and a shared ambition to invest in the future, including accelerating the rollout of 5G connectivity across the Isle of Man.
“With CVC DIF as our strategic partner, we’re building a stronger platform for innovation and growth – one that benefits customers, employees, and the wider Isle of Man community.”
Tom Goossens, from CVC DIF, said: “Our investment in Manx Telecom Group reflects our conviction in the long-term value of resilient, locally rooted digital infrastructure.
“As the Isle of Man’s incumbent operator, Manx Telecom Group offers a strong platform for innovation and growth, and we are excited to support its next phase of development.
“The partnership with JT Group further builds on this foundation, enabling us to scale operational capabilities across the Crown Dependencies and beyond. Together, we aim to accelerate investment in next-generation networks and deliver enhanced connectivity and enterprise services to customers.”