STOCK TITAN

5G + LEO: Verizon and Project Kuiper team up to develop consumer and enterprise connectivity solutions

Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
Rhea-AI Summary

Verizon and Amazon's Project Kuiper Collaboration

On October 26, 2021, Verizon announced a strategic collaboration with Amazon's low Earth orbit satellite network, Project Kuiper. This initiative aims to enhance connectivity for unserved and underserved communities, utilizing Verizon's mobile network and Project Kuiper's satellite capabilities. The partnership focuses on expanding Verizon's 4G/LTE and 5G services and developing solutions for various industries, including agriculture and transportation. Amazon has committed an initial $10 billion to the project, aiming to improve global broadband access.

Positive
  • Strategic collaboration with Amazon's Project Kuiper to enhance connectivity.
  • $10 billion commitment from Amazon supports the initiative, enhancing broadband access.
  • Focus on extending Verizon's 4G/LTE and 5G networks to rural and remote areas.
Negative
  • None.

Collaboration builds on expanding connectivity, cloud and customer experience partnership between Amazon and Verizon

What you need to know:

  • Strategic collaboration aims to pair Verizon’s terrestrial mobile network with Amazon’s low Earth orbit (LEO) satellite network, Project Kuiper.
  • Project Kuiper to deliver cellular backhaul solutions to extend Verizon’s 4G/LTE and 5G data networks, connecting rural and remote communities in the U.S.
  • Verizon and Project Kuiper to explore joint connectivity solutions for domestic and global enterprises across agriculture, energy, manufacturing, education, emergency response, transportation and other industries.

BASKING RIDGE, N.J., Oct. 26, 2021 (GLOBE NEWSWIRE) -- Today, Verizon Communications Inc. (NYSE, Nasdaq: VZ) and Project Kuiper, an advanced low Earth orbit (LEO) satellite network from Amazon.com, Inc. (NASDAQ: AMZN), announced a strategic collaboration to develop connectivity solutions for unserved and underserved communities. As part of the collaboration, Project Kuiper and Verizon have begun to develop technical specifications and define preliminary commercial models for a range of connectivity services for U.S. consumers and global enterprise customers operating in rural and remote locations around the world.

Project Kuiper is an initiative to increase global broadband access through a constellation of 3,236 satellites in low Earth orbit (LEO) around the planet. The system will serve individual households, as well as schools, hospitals, businesses and other organizations operating in places where internet access is limited or unavailable. Amazon has committed an initial $10 billion to the program, which will deliver fast, affordable broadband to customers and communities around the world.

Verizon Chairman and CEO Hans Vestberg said, “Project Kuiper offers flexibility and unique capabilities for a LEO satellite system, and we’re excited about the prospect of adding a complementary connectivity layer to our existing partnership with Amazon. We know the future will be built on our leading 5G network, designed for mobility, fixed wireless access and real-time cloud compute. More importantly, we believe that the power of this technology must be accessible for all. Today’s announcement will help us explore ways to bridge that divide and accelerate the benefits and innovation of wireless connectivity, helping benefit our customers on both a global and local scale.”

Connecting unserved and underserved communities in the United States

The partnership seeks to expand coverage and deliver new customer-focused connectivity solutions that combine Amazon’s advanced LEO satellite system and Verizon’s world-class wireless technology and infrastructure. To begin, Amazon and Verizon will focus on expanding Verizon data networks using cellular backhaul solutions from Project Kuiper. The integration will leverage antenna development already in progress from the Project Kuiper team, and both engineering teams are now working together to define technical requirements to help extend fixed wireless coverage to rural and remote communities across the United States.

Amazon CEO Andy Jassy said, “There are billions of people without reliable broadband access, and no single company will close the digital divide on its own. Verizon is a leader in wireless technology and infrastructure, and we’re proud to be working together to explore bringing fast, reliable broadband to the customers and communities who need it most. We look forward to partnering with companies and organizations around the world who share this commitment.”

Delivering new connectivity solutions for global enterprise customers        

This partnership will also pave the way for Project Kuiper and Verizon to design and deploy new connectivity solutions across a range of domestic and global industries, from agriculture and energy to manufacturing and transportation. The Kuiper System is designed with the flexibility and capacity to support enterprises of all sizes. By pairing those capabilities with Verizon’s wireless, private networking and edge compute solutions, the two will be able to extend connectivity to businesses operating and deploying assets on a global scale.

Betsy Huber, President, The National Grange said: "The agriculture industry is going to see dramatic changes in how it operates and succeeds in the next several years. Smart farms, bringing technology to agriculture, and connecting the last mile of rural America will be at the forefront of helping our industry to provide food for billions around the globe. Ensuring connectivity in rural areas will be key to making these endeavors a success. We're excited to see the leadership from both companies working together to help take our industry to the next level."

Amazon and Verizon have previously teamed up to serve customers across many industries, including integrating Verizon's 5G Edge MEC platform with AWS Wavelength and forming the Voice Interoperability Initiative. This collaboration builds on the relationship between the two companies, and lays the groundwork for Amazon and Verizon to serve additional consumer and global enterprise customers around the world.

To learn more about partnering with Amazon and the Project Kuiper team, email kuiper-partners@amazon.com.

Verizon Communications Inc. (NYSE, Nasdaq: VZ) was formed on June 30, 2000 and is one of the world’s leading providers of technology and communications services. Headquartered in New York City and with a presence around the world, Verizon generated revenues of $128.3 billion in 2020. The company offers data, video and voice services and solutions on its award-winning networks and platforms, delivering on customers’ demand for mobility, reliable network connectivity, security and control.

Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Amazon strives to be Earth’s Most Customer-Centric Company, Earth’s Best Employer, and Earth’s Safest Place to Work. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Career Choice, Fire tablets, Fire TV, Amazon Echo, Alexa, Just Walk Out technology, Amazon Studios, and The Climate Pledge are some of the things pioneered by Amazon. For more information, visit amazon.com/about and follow @AmazonNews.

Media contact:

James Watkins
jwtk@amazon.com

Kim Ancin
Kimberly.ancin@verizon.com


FAQ

What is Verizon's collaboration with Amazon's Project Kuiper about?

Verizon's collaboration with Project Kuiper focuses on enhancing connectivity for underserved communities by integrating Verizon's mobile network with Amazon's satellite technology.

How much has Amazon committed to Project Kuiper?

Amazon has committed an initial $10 billion to Project Kuiper to improve global broadband access.

What industries will benefit from the Verizon and Project Kuiper partnership?

The partnership will benefit various industries including agriculture, energy, manufacturing, and transportation by providing enhanced connectivity solutions.

When was the Verizon and Project Kuiper partnership announced?

The partnership was announced on October 26, 2021.

What are the primary goals of the Verizon and Project Kuiper collaboration?

The primary goals are to extend Verizon's mobile networks to rural areas and develop connectivity solutions for global enterprise customers.

Verizon Communications

NYSE:VZ

VZ Rankings

VZ Latest News

VZ Stock Data

178.43B
4.21B
0.04%
65.53%
1.2%
Telecom Services
Telephone Communications (no Radiotelephone)
Link
United States of America
NEW YORK