Ericsson’s official website announced that the company has reached a landmark multi-year 5G cooperation agreement with US telecom operator Verizon, valued at US$8.3 billion. Ericsson will provide Verizon with its industry-leading 5G solutions to accelerate Verizon’s 5G network deployment in the United States.

Niklas Heuveldop, President and Head of Ericsson North America, said: “This is an important strategic partnership for both companies. We are most excited about bringing the benefits of 5G to American consumers, businesses, and the public sector. We are looking forward to working with Verizon to use our Cloud RAN and Street Macro solutions to add depth and versatility to the rollout of 5G networks across the United States.”

Verizon Chief Technology Officer Kyle Malady said: “Through this new agreement, we will be able to continue to promote 5G innovation and widespread adoption. We are pleased to continue this work through our long-term relationship with Ericsson.”