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Ericsson Signs $8.3 Bln Deal To Provide 5G Solutions To Verizon

Swedish telecom equipment maker Ericsson (ERIC) announced Friday a multi-year $8.3 billion agreement to provide its 5G solutions to accelerate Verizon Communications, Inc.'s (VZ) next-generation 5G network in the U.S.

Under the deal, Ericsson will deliver 5G solutions, including Massive MIMO, Ericsson Cloud RAN and software to strengthen and expand Verizon's world-class 5G network.

Verizon will deploy Ericsson's 5G MIMO C-band, low-band and millimeter wave or mmWave solutions to enhance and expand its 5G Ultra Wideband coverage, network performance and user experience.

In 2020, Verizon was the first communications service provider to receive a commercial 5G mmWave Street Macro base station from Ericsson's U.S. smart factory in Lewisville, Texas.

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