A BT Group spokesperson confirmed to Capacity that Distributed had been sold: “BT Group no longer holds a stake in the business, but we continue to use their elastic teams for bringing additional capability to our squads.”
Subscribe today for free
BT invested £30 million in Distributed in 2022 — the first recipient of BT Digital’s startup amplifier programme — to use its on-demand Elastic Teams platform, which connects tech professionals with workplace opportunities.
At the time, BT said the platform empowered it to accelerate its digital transformation efforts by “rapidly bringing together multi-skilled digital teams… to build high-quality digital products and platforms faster and more efficiently.”
BT did not disclose the amount it has sold Distributed for, however, or who the buyer was.
The startup exit adds to BT’s ongoing efforts to streamline the business, with CEO Allison Kirkby leading efforts to simplify the business.
BT is in talks to sell off several of its non-UK assets, with reports in early November suggesting the company’s global division was put up for sale.
The telecoms giant announced a major restructuring effort earlier this year, with plans to cut its workforce by 40% by the end of the decade, the equivalent of around 55,000 jobs.
RELATED STORIES
Marc Allera to step down as BT consumer CEO, replaced by Claire Gillies
