Ericsson and Verizon ink landmark multi-year $8.3 Billion 5G deal

Ericsson (NASDAQ: ERIC) today announces a landmark multi-year agreement with Verizon to provide its industry-leading 5G solutions to accelerate the deployment of Verizon's world-class next-generation 5G network in the U.S.

Niklas Heuveldop, President and Head of Ericsson North America, says: “This is a significant strategic partnership for both companies and what we’re most excited about is bringing the benefits of 5G to U.S. consumers, enterprises and the public sector. We’re looking forward to working with Verizon to leverage solutions like Cloud RAN and our Street Macro, adding depth and versatility to 5G network rollouts across the U.S.”

“With this new agreement, we will be able to continue driving innovation and widespread adoption of 5G,” says Kyle Malady, Chief Technology Officer for Verizon. “We are pleased to continue this work through our long-standing relationship with Ericsson.”

Under this $8.3 billion USD agreement, Verizon will deploy Ericsson's 5G MIMO C-band, low-band and millimeter wave (mmWave) solutions to enhance and expand Verizon's 5G Ultra Wideband coverage, network performance and user experience. Ericsson's technology solutions, including Massive MIMO, Ericsson Spectrum Sharing and Ericsson Cloud RAN, are part of the high-performing Ericsson Radio System portfolio to support 5G services. Ericsson’s industry-leading software functionality provides end-users with the speed and performance they expect from 5G networks.

In 2020, Verizon was the first communications service provider to receive a commercial 5G mmWave Street Macro base station from Ericsson's award-winning new state-of-the-art U.S. smart factory in Lewisville, Texas. Ericsson is committed to building and accelerating the nationwide build-out of 5G across the country.