BlackRock partners with Verizon for private 5G network at new state-of-the-art NYC HQ

Rhea-AI Summary

Verizon Business and BlackRock announced the deployment of a private 5G network at BlackRock’s new headquarters in New York's Hudson Yards, marking a significant first for commercial 5G implementation in the U.S.

The network enhances secure connectivity for critical areas such as trading floors and conference centers, facilitating advanced applications like AR/VR and real-time edge computing.

Verizon’s On Site 5G offers a scalable platform, combining 5G Ultra Wideband with LTE, positioning BlackRock at the forefront of data-centric innovation.

Positive

• First commercial implementation of Verizon's On Site 5G network in the U.S.
• Enhances secure connectivity for BlackRock's new headquarters, supporting advanced workplace applications.
• Positions BlackRock as a leader in utilizing innovative technologies like AR/VR and IoT.

Negative

• None.

Marks the first commercial implementation of Verizon Business’ On Site 5G private network solution in the U.S.

BARCELONA, Spain and NEW YORK, March 01, 2022 (GLOBE NEWSWIRE) -- Verizon Business and BlackRock announced today that BlackRock’s new global headquarters at 50 Hudson Yards in New York will feature a private 5G network from Verizon.

The deal brings secure 5G Ultra Wideband connectivity to areas of BlackRock’s brand new Hudson Yards facility where high speed and low latency are put to optimal use, such as its trading floor, client-facing conference center, cutting edge auditorium, and meeting rooms.

The On Site 5G deployment can replace office WiFi and allows BlackRock to take advantage of workplace-of-the-future tools and applications including virtual enhanced training, AR/VR, enhanced security management and monitoring, real-time edge computing and emerging data-centric technologies that require high bandwidth and low latency.

“5G Ultra Wideband is the platform for 21st century business and should be a prerequisite for any workplace that aims to be state of the art and future ready,” said Tami Erwin, CEO of Verizon Business. “BlackRock’s decision to outfit their new headquarters with On Site 5G from Verizon Business puts them at the forefront of data-centric innovation, in full view of clients, guests and partners, who can enjoy the on-premises private network and all its benefits as well.”

“Our vision from the very beginning was to create a world-class, tech-centric experience for our people and our clients,” said Rob Goldstein, COO of BlackRock. “Partnering with Verizon Business to deploy On Site 5G at our new headquarters will help us turn that vision into reality. As we usher in a new world of work, the vibrant and dynamic environment that we are looking to create will give our people the best opportunities to succeed and better serve our clients.”

On Site 5G is a secure non-standalone private network that combines 5G Ultra Wideband small cells with an LTE packet core and supporting radios, providing compatibility with a wide range of both LTE and 5G devices. The offering uses 5G radios from Corning Incorporated.

As 5G technology and capabilities advance and evolve, On Site 5G provides customers with a scalable, customizable platform to take advantage of developments in burgeoning technologies such as IoT, AI/ML, AR/VR, real-time edge compute and much more.

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 $133.6 billion in 2021. 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.

VERIZON’S ONLINE MEDIA CENTER: News releases, stories, media contacts and other resources are available at verizon.com/news. News releases are also available through an RSS feed. To subscribe, visit www.verizon.com/about/rss-feeds/.

Media contact:
Matt Conte
matthew.conte@verizon.com
917-848-3040

Kyle Ragonese
kyle.ragonese@verizon.com
973-224-5708

FAQ

What is the significance of Verizon's On Site 5G network deployment for BlackRock?

The deployment marks the first commercial implementation of Verizon's private 5G network in the U.S., enhancing secure connectivity in BlackRock’s headquarters.

How will BlackRock utilize Verizon's On Site 5G network?

BlackRock will leverage the network for applications requiring high speed and low latency, such as virtual training and real-time data processing.

What technology does Verizon's On Site 5G network combine?

The network combines 5G Ultra Wideband small cells with an LTE packet core, enabling compatibility with various LTE and 5G devices.

What are the benefits of the 5G network for BlackRock's operations?

The 5G network supports advanced applications, improves security management, and enhances customer experiences in high-demand environments.

What was Verizon's revenue in 2021?

Verizon generated revenues of $133.6 billion in 2021, reflecting its position as a leading provider of technology and communications services.