JT Group (Jersey Telecom) and CVC Capital’s infrastructure arm, CVC DIF, have finalized the acquisition of Isle of Man telco Manx Telecom Group.

The telco announced the completion of the deal yesterday, noting that the acquisition was formally completed last Friday (May 15).

First announced in October, the deal creates the largest crown dependencies telecoms provider.

Combined, JT Group and Manx Telecom will serve customers in Jersey, Guernsey, both of which are located in the Channel Islands, and the Isle of Man. All three are self-governing British Crown dependencies.

“Working alongside our strategic partner CVC DIF, we now have the scale, capability, and investment strength to accelerate next‑generation network upgrades across Jersey, Guernsey, and the Isle of Man. Together, we will continue building resilient, secure, and future‑ready digital infrastructure for our Islands,” said Daragh McDermott, CEO of JT Group.

Financial details of the deal were not disclosed, though it was reported to be worth around £500 million ($669m). JT Group has taken a 45 percent stake in Manx, with CVC DIF holding the remaining 55 percent.

Tom Goossens, partner and co-head of the DIF infrastructure fund strategy at CVC DIF, added: “Both organizations play vital roles in their local markets, and bringing them together creates a strong foundation for future investment in digital infrastructure. Our focus now is on supporting the group as it accelerates the rollout of next‑generation networks across the Crown Dependencies and expands its enterprise, IoT, and managed services capabilities internationally. We believe this partnership is well placed to create lasting value for customers, employees, and the communities we serve.”

Founded by BT in 1985, Manx Telecom is the primary provider of broadband and telecommunications on the Isle of Man. After being acquired by Telefónica in 2006, HgCapital in 2010, and floating in 2014, Manx Telecom has been owned by Basalt Infrastructure Partners since 2019.

The company launched its own dedicated data center division in 2024. Manx is currently building out its fiber network £60m ($80m) roll-out.

JT was founded in 1888 and is owned by the island’s government. The telco paired with network vendor Ericsson to launch 5G last year.