BT’s attempt to become a big player in the corporate IT market was boosted yesterday by a $3 billion (£1.6 billion) deal to provide and run Reuters’ data networks worldwide.

The deal, the biggest contract signed by BT, marks a new chapter in the telecoms company’s efforts to expand after earlier failed attempts to move into the US market.

BT is battling to offset the decline in its traditional fixed-line calls business by building its “new wave” divisions.

The telecoms company has identified IT and network services as an area of strong growth. BT recently announced plans to pour profits from its largest corporate contracts into the division servicing these markets rather than into its retail division, which covers fixed-line and consumer services.

BT’s latest deal, which is expected to generate $3 billion over 8½ years for the telecoms company, comes after its deal with Bristol-Myers Squibb, the American drugs company, in January.

The latter agreement, believed to be worth about $500 million, was ten times the size of previous telecoms contracts won by BT in the US.

The group’s biggest contract before the deal with Reuters, the information provider, was a seven-year £696 million agreement signed with Unilever in 2002.

Andy Green, head of BT’s global services division, its international arm, described the Reuters win as a blockbuster deal. “Now we have really established a world reputation for being an expert in modern IT networks,” he said.

BT was hopeful that yesterday’s deal would help the telecoms company to win contracts with Wall Street’s leading investment houses.

Mr Green said that BT’s IT division was eyeing further deals valued at about the “half a billion dollars mark”.

BT announced yesterday that it had bought Radianz, which provides telecoms networks to financial services companies, from Reuters for $175 million. BT has denied rumours that it would consider demerging its global services division. The company insisted that the division was best served as being part of the bigger group.

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