Ericsson has struck a new partnership with Future Technologies Venture to help Ericsson expand its critical communications business into new industry verticals. Future Technologies Venture is an end-to-end solution provider of industrial connectivity networks.
Under the multiyear deal, Future Technologies Venture will become a value-added systems integrator for Ericsson, while Ericsson will provide its private LTE equipment and MINI-LINK microwave products to Future Technologies Venture’s connectivity solutions portfolio for utilities, oil and gas, mining and government verticals.
“Future Technologies has a unique reach into key verticals that Ericsson would like to expand our presence in,” said Rishi Bhaskar, VP for energy and public sector markets with Ericsson North America in a statement, adding that the agreement is “strategically beneficial for customers.”
The agreement fits into Ericsson’s wider strategy of finding new growth opportunities for LTE equipment and selling LTE equipment for private wireless networks in new industries. Last month, Ericsson launched a cellular connectivity solution that enables communications operators to offer dedicated cellular 4G LTE networks for industrial applications.