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3G/HSPA

Ericsson Bags $5B Deal

12:30 PM -- Ericsson AB (Nasdaq: ERIC) has just announced the mother of all managed network services deals with Sprint Corp. (NYSE: S), worth up to $5 billion over seven years. (See Ericsson, Sprint Enter Agreement.)

Sprint will still own the network, and make technical decisions and choose its vendors, but 6,000 of its staff will transfer to the giant Swedish vendor, which will run the operator's CDMA, iDen, and wireline networks.

The two companies are holding a conference call later today to discuss details.

Ericsson's share price is up a couple of pennies at $9.38, while Sprint's is up 20 cents, nearly 4.7 percent, at $4.49.

— Ray Le Maistre, International News Editor, Light Reading

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