- Companies enter strategic partnership agreement focused on Europe and North America Ericsson today announced an agreement with SpectraSite Holdings, Inc. (Nasdaq: SITE), under which the companies will combine expertise and capacity to meet the growing demand for fast rollout of wireless networks focusing on the US and the European market. The agreement is part of Ericsson's strategy for leadership in 3G and the continued outsourcing of non-core activities to world-class partners. Under the terms of the agreement, Ericsson will utilize SpectraSite's rapidly growing portfolio of strategically located towers, rooftops and raw land sites. SpectraSite will finance the construction and will retain ownership of all sites developed under the agreement. "Ericsson is dedicated to the rapid deployment of wireless networks globally," said Melker Norlund, VP, Division Global Services, Ericsson. "To meet this goal, we must select best-in-class partners. SpectraSite has the world's largest, most impressive portfolio of sites, with more than 50,000 today already around the world. Together, we can offer a total solution to wireless operators."
"This is an extremely significant agreement for SpectraSite," said Steve Clark, Chief Executive Officer, SpectraSite. "Ericsson is recognized as a global leader in the telecom industry, and they have been named in 17 of 22 third generation commercial agreements in the world, which clearly positions them at the forefront of 3G network deployment. In addition to 3G demand, we anticipate significant opportunities to work jointly with Ericsson on 2G rollouts. This agreement represents substantial revenue opportunities for SpectraSite, both recurring from site lease agreements, and non-recurring from network development work. We look forward to a long-term relationship with Ericsson."
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