Swedish telecommunications giant Ericsson announced on Friday that it had reached an agreement, worth $8.3 billion, with US wireless network operator Verizon to deliver its high-speed 5G internet solutions to the United States.
"Ericsson ... 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.," the company said in a press release.
Under the $8.3 billion deal, Verizon expects to deploy Ericsson's 5G MIMO C-band, low-band and millimeter wave solutions to enhance and expand its 5G coverage, the press release added.
Last year, the US company became the first communications service provider to receive a commercial 5G millimeter wave Street Macro base station from Ericsson's new state-of-the-art US smart factory in the state of Texas. The move was part of the Swedish tech giant's commitment to building and accelerating the nationwide build-out of 5G across the country.
SPUTNIK