Ericsson finalises managed services contract with 3 Italy

Swedish mobile phone manufacturer Ericsson http://www.ericsson.com and 3 Italy have finalised a managed services contract that they announced in January 2005. As the company reports today in a press release on its website, the five-year contract is said to be worth 15 billion Swedish Krone (1.63 billion euros), making it one of the largest managed services contracts ever signed in the telecoms industry. Revenues are expected to gradually increase over the contract term as the network evolves. 750 employees have been transferred from 3 Italy to Ericsson and the Swedish company will now manage the operator's multi-vendor network, serving more than 3.5 million subscribers.